Kathmandu, May 16: Nepal Investment Mega Bank CEO Jyotiprakash Pandey, who had been kept in custody by the Central Investigation Bureau (CIB) under charges related to criminal breach of trust, has been released from detention on Friday evening on attendance bail.
A joint bench of Supreme Court Justices Saranga Subedi and Shanti Singh Thapa ordered his release after necessary hearings on an interim order in response to a habeas corpus petition filed by Pandey’s wife, Niru Dahal.
Pandey had been arrested from Sindhuli district headquarters while traveling to Madhesh in connection with the bank’s loan recovery process. Contrary to the allegations made by the CIB, the court order interpreted the overall collateral management and loan recovery process as part of standard banking procedures.
During Friday’s hearing, three government lawyers—including Deputy Attorneys General Sanjiv Raj Regmi and Lok Raj Parajuli, along with Assistant Attorney General Shridhar Aryal—argued on behalf of the state. Representing Pandey were four lawyers, including senior advocates Sushil Pant, Shambhu Thapa, and Raman Shrestha.
People’s News Monitoring Service.
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