KATHMANDU, Aug 11: The Special Court has set bail at Rs 10 million for businessman Shekhar Golchha in a money laundering case.
Two weeks ago, the Kathmandu District Court had also ordered Golchha’s release on bail totaling Rs 10 million in cases related to insurance and securities transactions. The district court set bail at Rs 7.5 million in the insurance-related cases and an additional Rs 2.5 million in the securities transaction case.
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Golchha, former president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and chairman of Golchha Group, was initially arrested on April 24 for further investigation based on an inquiry report by the Securities Board of Nepal (SEBON).
Following its investigation, the Central Investigation Bureau of Nepal Police filed charges against Golchha in financial crime cases involving alleged insider trading, market manipulation and money laundering.
