By Our Reporter
Binod Chaudhary is the only billionaire in Nepal listed in the Forbes Billionaires. He is the owner of CG Group which runs several businesses and industries in Nepal.
However, a recent incident has unmasked the real face of the CG Group after the Central Investigation Bureau (CIB) of Nepal Police arrested Arun Chaudhary, brother of Binod, for grabbing 10 ropanis land of Bansbari Leather and Shoes Factory.
CIB arrested Arun of the CG Group and Ajit Narayan Singh Thapa, the then executive chairman of Bansbari Leather and Shoes Factory, for transferring the land to Chaudhary.
Now both are in police custody, and the district court has already ordered their release, stating that they could face cases remaining outside of police custody. However, political nexus and other issues are suspected for such an order.
Binod Chaudhary is a lawmaker from the Nepali Congress and is said to be close to party president Sher Bahadur Deuba and his spouse, Arzoo Rana. Considering the influence of Binod and the non-cooperation of the court, the CIB may face problems in concluding the investigation and punishing the guilty.
The arrest of Arun has revealed how the CG Group has grabbed government property. There can be other lands grabbed by the group.
Immediately after Arun’s arrest, Binod raised the issue in the central committee meeting of the Nepali Congress, and the business organisations issued statements against the arrests.
Arun Chaudhary was arrested from his residence in Lajimpat.
However, the land currently belongs to billionaire Binod Chaudhary.
He is running Chandbag Residency and Chandbag School on the illegally occupied government land. He had occupied the land in 1986.
Chaudhary had captured government land in the name of establishing Champion Footwear.
The fake company had claimed to produce one million pairs of shoes, and the Bansbari Leather and Shoe Factory would get 2,500 unit shares in the factory.
After occupying the government land, Chaudhary registered a shoe manufacturing company, but it was shut down six years later without producing a single pair of shoes.
During that time, the company was registered in the name of Arun and his wife, however, presently, the land is owned by Binod.
It is said that the land in the past was jointly owned by three Chaudhary brothers– Binod, Basanta and Arun. Later, Basanta separated from the joint family, leaving two brothers in the CG group.
Although the occupied land is now owned by Binod, the government did not dare to arrest Binod but arrested his younger brother Arun.
Coincidentally, the Pushpakamal Dahal-led government arrested Arun a few days after NC President Sher Bahadur Deuba reportedly asked PM Dahal to vacate the post of the PM.
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