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Lamshal bargains Rs 50 M with NIBL, Press Council interrogates

By Our Reporter
Madan-Lamsal-e1419397211231On the issue of Vibor Bank’s investment on New Business Age Pvt Ltd, the Nepal Rastra Bank and Central Investigation Bureau (CIB) of the Nepal Police have drawn their attention. Vibor Bank through the Vibor Capital Ltd, had purchased the share worth 24 million two hundred thousand rupees.
The central bank has already questioned on the Vibor investment on the publications.
Even in the record of the Loan Information Centre, Lamshal has been found drawing 24 million two hundred thousand rupees from the Vibor Bank and 10 million from Prabhu Bank. Besides, he has drawn home loan worth Rs 5.8 million.
Lamshal owned the company and he personally have taken loans but there is no record of repayment of such loans.
As a bank defaulter, the Nepal Rastra Bank is likely to blacklist Lamshal and the CIB may start investigation on him as bank defaulter, said a source.
Meanwhile, some bankers have complained that Lamshal is bargaining money by publishing fabricated news against reputed bankers.
Meanwhile, the Nepal Investment Bank Ltd (NIBL), one among the few reputed banks ranked at the top position in the banking sector in the country, has filed a complaint at the Press Council against the Arthik Abhiyan, published by Lamshal for publishing fabricated reports defaming the top managements of the Bank.
Chief Executive Officer of the Bank, Jyoti Prakash Pandey lodged a complaint at the Press council with factual evidences and sought legal remedies and action against the newspaper for attempting to defame the image and reputation of the and its management.
He had complained as the daily published seven stories and a cartoon in its editions with the specific motive of defaming the image of the institution and its officials. The complaint pointed out that that the newspaper had violated the defamation and slander laws of the country.
“Furthermore, by refusing to publish the bank’s rebuttal submitted to the daily’s editor by NIBL’s Chairman Prithvi Bahadur Pandey, the newspaper violated the code of journalistic ethics,” it is stated.
With the motive of linking the incident with the surname of the bank’s chairman Prithvi Bahadur Pandey and CEO Jyoti Prakash Pandey, the daily on March 17 had published a story titled, “Who owns the bullets in bank locker: Lama or Pandey?”, The daily twisted the facts related to the case and brought in the name Pandey without any basis according to the complaint.
The complaint pointed out that “As per the existing laws, the banks have no right to check the locker users’ bags and see what valuables they are carrying owing to privacy and confidentiality clauses.”
The complaint also said that the newspaper carried out a concerted malicious campaign against the bank and its management by falsely implicating them in various developments and issues in the country.
“The campaign against the Bank and its officers was motivated because the daily failed to publish the rejoinders and denials issued by the bank and the top management.
In response to the complaints, the Press Council asked the Arthik Abhiyan and its editor to formally publish the rebuttal issued by Nepal Investment Bank Limited and its top management on Tuesday. Furthermore the Council gave the business daily a week’s time to come up with evidences to substantiate the accusations made in its news stories against the bank and its executives.
The council wanted to know why the rebuttal was not published by the business daily and directed its editor to do the same without any delay.
It is learnt that Lamshal had approached the Bank demanding business loan worth 50 million rupees. As the Bank asked him to meet the criteria, he was fired against the NIBL management and started blackmailing the Bank’s Chairman, CEO and the Bank as well by producing false reports.

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