KATHMANDU, May 29: The Supreme Court on Tuesday ordered the authorities to further investigate the source of millions of US dollars of Ajeya Raj Sumargi-owned Muktishree Cement Industry Private Limited now frozen at Nepal Rastra Bank.
KATHMANDU, Jan 17: Business tycoon Ajeya Raj Sumargi has been found making investment in a company in Cyprus in violation of Nepali laws that bar Nepali nationals from making investment abroad, according to the revelation of a year-long investigation by the Centre for Investigative Journalism (CIJ) and the International Consortium of Investigative Journalists (ICIJ). The Act Restricting Investment Abroad, 1964, prohibits any Nepali from making investment abroad.
KATHMANDU, Feb 7: The Supreme Court on Tuesday issued an interlocutory stay order in favor of businessman Ajaya Raj Sumargi, allowing him to use Rs 2 billion which was transferred from a foreign bank and subsequently frozen by Nepal Rastra Bank.
KATHMANDU, Jan 8: A dispute has resurfaced between two media owners - Kailsh Sirohiya of Kantipur Media Group and Ajeyaraj Parajuli Sumagri of Thaha Sanchar - with the latter registering a defamation case against the former at the Kathmandu District Court on Sunday. Sumargi has sought Rs 250 million in compensation from Sirohiya for 'defaming' him through Kantipur Publication.