Kathmandu, April 21: Prime Minister Balendra Shah has sought a written explanation from Home Minister Sudan Gurung over discrepancies in his asset declaration and alleged links with businessman Deepak Bhatta, currently in police custody in a money laundering case. Gurung has claimed he purchased shares through loans.
His office confirmed that a written clarification was submitted Monday evening after the issue drew public attention. Gurung had earlier defended himself publicly, saying the investments were loan-financed and documented through banking channels.
Despite the clarification, key questions remain.
First, the source of Gurung’s total shareholding worth Rs 431.56 million is unclear. He disclosed investments under four categories, including shares in non-listed companies and Rs 274.56 million in listed or soon-to-be-listed firms. He named two companies, Star Micro Insurance and Liberty Micro Insurance, but only after media reports surfaced. It is still unclear whether all shares were bought through loans or just these two.
His trading history raises further doubts. Gurung began buying shares only recently, making limited purchases in the secondary market, all in a single company, N.R.N. Infrastructure and Investment Ltd. Most of his holdings appear to be founder shares. Whether these, too, were loan-funded remains unanswered.
Second, his asset declaration lists the source of investment as “business, ancestral property, or investment,” with no mention of loans. If loans financed the shares, why was this not disclosed?
Third, the section requiring disclosure of outstanding loans was left blank, suggesting he had no liabilities. This contradicts his claim of borrowing funds.
Fourth, Gurung reported all holdings as ordinary shares, while evidence suggests a significant portion consists of founder shares.
Fifth, he has not addressed his business ties with Bhatta. Their association, including Gurung’s founder stakes in companies linked to Bhatta, raises questions about the origin of funds and the depth of their relationship.
Gurung has argued that investing in shares is not a crime. True. The problem is failing to explain where the money came from.
Meanwhile, expectations that the Rastriya Swatantra Party would raise the issue internally have not materialized. A central committee meeting on Monday reportedly did not discuss the matter. Party spokesperson Manish Jha said decisions require formal proposal and discussion, avoiding direct comment.
The silence stands out, especially after earlier disciplinary action against former minister Deepak Kumar Sah over misuse of authority. Questions sent to the party’s disciplinary committee and Gurung remain unanswered.
People’s News Monitoring Service
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