Kathmandu. To get a loan from a bank, a normal customer has to go through a long process. It is not uncommon for land assessments, document examinations, risk analyses to take weeks or months to reach various levels of approval. However, it may be surprising to hear that a piece of land was bought for Rs 1.17 crore, its value was increased by more than 15 times on the day of purchase, and within three days, loans worth crores of rupees were disbursed. More importantly, the company was blacklisted after the loan was not repaid. However, the bank did not stop giving such loans.
In this way, the same thing happened again in the bank which did not recover the overvalued loan. Again, overvaluation, overvaluation on the same day of buying land at a low price, and within a short time, another loan of crores. Ramesh Raj Aryal, who is currently the director of Prabhu Bank, is involved in such a serious issue.
Now let’s understand the incident.
In the first instance, land worth Rs 1.17 crore was purchased, valuation of Rs 17 crore on the same day and a loan of Rs 70 million was disbursed within a short time. According to the evidence submitted by the shareholders of Kumari Bank to the Rastra Bank, the land purchased by the company for Rs 1.17 crore was valued at Rs 170 million on the same day when Ramesh Raj Aryal was the CEO of the present Kumari Bank. Based on this, a loan of Rs 30 million was approved within three days and after 11 days, an additional loan of Rs 4 crore was disbursed. Later, the debt was trapped. It has been claimed.
Similarly, another case has also decreased in Kumari Bank. The land purchased by Kumari Builders for Rs 1.05 crore when Aryal was the CEO of the company was approved, based on the valuation of Rs 13.26 crore the next day, the loan was approved for Rs 7.62 crore. Later, the concerned borrower was blacklisted after the loan could not be repaid.
After that, a loan of Rs 160 million was issued from the then Mahalaxmi Development Bank in the name of International Club for the purchase of the same land, out of which Rs 12.51 crore was transferred to Prabhu Bank.
And the connection behind all this seems to be the current scam case of Prabhu Bank.
Currently, CIB is investigating the loan of Rs 48 crore given by Prabhu Bank to Asian Village Resort. The Central Bureau of Investigation (CIB) has arrested the then Chief Business Officer of the bank, Rashmi Panta, for further investigation. However, Ramesh Raj Aryal is the director of Prabhu Bank, and the company that evaluated Asian Village Resort and the valuer who helped take loan from the then NCC Bank by overvaluing it is the same company, according to an application filed at the Rastra Bank.
Ramesh Raj Aryal could not be reached for comment.
Ramesh Raj Aryal was in the news due to various controversies in the past. The Nepal Rastra Bank (NRB) had directed Kumari Bank to return the amount for illegally exceeding her salary and perks.
Likewise, the NRB had asked him to step down from the post of director of Citizens Bank.
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