Supreme Court orders not to arrest Chairman and CEO of Nepal Investment Mega Bank
Kathmandu.The Supreme Court (SC) has issued an interim order against the bank’s chairperson Prithivi Bahadur Pandey and Chief Executive Officer (CEO) Jyoti Prakash Pandey.
The office-bearers of the bank had reached the Supreme Court claiming that they were preparing to arrest them at a time when a criminal investigation was underway related to the share auction process of Smart Telecom Pvt. Ltd. The court stayed their arrest for the time being.
A single bench of Justice Tek Prasad Dhungana has not ordered to stop the investigation.
The court has summoned both the parties for a discussion on August 12, 2083, saying that it is necessary to hear the statements of both the parties on whether or not to arrest them while the investigation is ongoing.
Prior to this, the court issued a temporary interim order not to arrest the petitioners for the purpose of investigation. After further deliberations, the court will decide whether to continue the order or not.
The bank is conducting a criminal investigation into the process related to the auction of shares in the hypothecation of Smart Telecom. Chairman Pandey, CEO Pandey and other officials of the bank had filed a writ petition at the Supreme Court claiming that they would be arrested in connection with the investigation.
Pragya Raj Rajbhandari, poet Kumar Tibrewal, Dipankar Shakya Udaya, Shalikram Belbase and Shova Shrestha are also the petitioners in the writ petition.
The apex court has also sought a written response from the opposition. The court has also directed to inform the concerned authorities about the court’s order.
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