According to CIB, Maharjan caused loss of Rs 2.37 million to the Agricultural Development Bank Maharajgunj. The then manager of the bank Karam Singh Bhandari was also involved in the forgery, CIB said. Maharjan was arrested by a CIB team from Baneshwar Height area of Kathmandu.[break]
CIB sub-inspector Ishwar Babu Karki said, "Maharjan had taken the loan from the bank by presenting forged documents of the land which was not suitable for collateral."
The 1 ana 2 paisa land belonging to Usha Sinjapati was presented at the bank as 1 ropani 2 ana for a non-operational Sinjapati Printing Press on 14 October 14, 2003, police said.
The Supreme Court on Oct 11, 2011 had convicted Maharjan imposing a Rs 1.18 million penalty on him and ordering the authorities to recover Rs 2.37 million from him.
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