KATHMANDU: Supreme Court (SC) has ordered the release of Nepal Investment Mega Bank Limited (NIMB) Chief Executive Officer Jyoti Pandey on a personal recognizance bond while allowing the investigation against him to proceed.
A division bench of Justices Saranga Subedi and Shanti Singh Thapa directed authorities to release Pandey in the presence of a senior advocate.
Arrest of NIMB CEO Pandey triggers banking sector alarm over co...
The apex court also ordered that Pandey must obtain prior permission before leaving the country if foreign travel becomes necessary.
Issuing a habeas corpus order, the bench ruled that there were insufficient grounds at this stage to keep Pandey in custody for investigative purposes.
Earlier, Pandey’s wife Niru Dahal had filed a habeas corpus petition at the Supreme Court, alleging that his detention was unlawful.
The Central Investigation Bureau (CIB) had arrested Pandey in connection with an investigation into allegations including criminal breach of trust linked to the auction process of assets belonging to Smart Telecom.
