KATHMANDU, Aug 16: Piyush Bahadur Amatya, the chairman of Amatya Group, was released by the The Kathmandu District Court on Tuesday after paying Rs 50 million bail. His two aides Sanjeev Tuladhar and Rajat Gurubacharya were however sent to jail after failing to pay Rs 10 million bail each, sought by the court.
Amatya, the authorized distributor of Mitsubishi vehicles for Nepal, was arrested on July 31 after he was allegedly found to have swindled around Rs 44 million from several persons saying he would invest in casino.[break]
Amatya, who also owns the Fulbari Hotel, is the biggest bank defaulter of the country and owes around Rs 4 billion to a consortium of banks led by Nepal Bank Limited.
Amatya along with his family members has been blacklisted by Credit Information Bureau after failing to repay various loans to execute various projects.
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