KATHMANDU, April 23: Industrialist Shekhar Golchha has been arrested by the Central Investigation Bureau (CIB) of Nepal Police in Kathmandu on Thursday.
CIB officials said Golchha was taken into custody in connection with an investigation into multiple alleged offences. They maintained that the arrest was made as further investigation is required into various charges he faces.
Shekhar Golchha elected senior vice-president
The CIB said the arrest was made on the basis of an initial probe report prepared by the Securities Board of Nepal (SEBON).
Golchha, former chair of Himalayan Reinsurance Limited, is alleged to have been involved in violations under Sections 94, 95, 96(1) and 98 of the Securities Act, 2063 BS. The CIB said further investigation and legal action will proceed under Section 103(3) of the same Act.
Police confirmed that Golchha was arrested from Naxal after obtaining an arrest warrant from the Kathmandu District Court in Babarmahal on Thursday.
Following his arrest, he has been taken into custody in Pulchowk, where further investigation is currently underway, according to security sources.
