An asset laundering case has been filed against energy investor Gyanendralal Pradhan. The district attorney's office registered a case in the Kathmandu district court last Friday for the crime of illegal insider trading of shares in the secondary market.

According to the public prosecutor's office, a case has been filed against Pradhan who, while he was the chairman of Nepal Hydro Developers Limited, obtained insider information and profited by insider trading of shares against the law. Spokesperson of the Public Prosecutor's Office Sitaram Aryal said that Rs 260.39 million has been demanded against Pradhan. 

'Nepal Hydro Developers Limited's then chairman Gyanendralal Pradhan through his family members bought the company's shares in the secondary market on the basis of a complaint received through the Nepal Securities Board. In the

investigation, even though Pradhan himself did not sell his shares, it was seen that the action of selling shares with the help of his family was not done with good intentions. Also, seeing that the business is taking advantage of the market price, it seems that there is a fraudulent transaction in the market contrary to the section 97 and 98 of the Securities Act 2063.' 

It is seen that Pradhan sold shares in the name of his wife, unmarried daughter and son when he was the director of the company and after his resignation. Although Pradhan stated that he distributed the shares through shareholding, the details of the transaction were not mentioned, so it was found to be fraudulent, according to the investigation conducted by the Money Laundering Investigation Department.

"During the statement, even though Pradhan mentioned the transaction after the shareholding, during the household name list, when investigating the details received from the relevant securities broker and CDSC, it seems that the transaction was carried out without mentioning the shareholding," the filed case said.

Pradhan is accused of having transacted business against the provisions of Rule 38 of Rule 38 of 2073.

Analyzing the chart price of Nepal Hydro Developers Limited (NHDL), which is listed on the Nepal Stock Exchange, the last trading price of the shares was 625 per share on July 14, 078, the date when Pradhan started naming his family members to sell his shares.

When comparing the price with the last price of two months, it seems that there is an increase of 84 percent.  "On June 14, 2078, the last trading price of the said shares is 340 per share," the indictment said, "the price of the said shares in the secondary market is 

With the tainted intention of getting profit from high growth, the accused Pradhan, before resigning from the directorship of the company on August 13, 2018, and after resigning, repeatedly transferred 4 lakh 13 thousand 62 shares to family members and then sold them several times to gain profit. appears.' 

In the same case, when the Securities Board investigated, a case was also filed against him for fraudulent trading of shares. According to the investigation conducted by the board, the amount he earned by selling shares that cannot be sold according to the law was automatically obtained from the crime and related to the crime and was confirmed to be from illegal sources. 

Pradhan had transferred 30,500 shares of the company in the name of Mrs. Vimala Shrestha Pradhan on July 14, 1978, and 150,000 shares on October 29, 1978, and 97,250 shares on December 5, 1978. Similarly, it is mentioned in the indictment that on 078 Jan 20, a total of 3 lakh 77 thousand 750 shares divided into 1 lakh shares were sold through the secondary market of the securities. 

Similarly, it is mentioned that when Pradhan was the chairman of the company, 30 thousand 500 shares were transferred to his son Chetan Pradhan on July 14, 1978, and 63 thousand 604 shares were transferred to his family name on July 14, 1978 to 32 thousand 906 shares on October 5, 1978. When Pradhan was the chairman, it was found that 63 thousand 604 shares of 32 thousand 906 shares were transferred in the name of his unmarried daughter Nivitha on July 14, 1978 and 32 thousand 906 shares on October 5, 1978.

After leaving the chairmanship and selling the shares in the name of his daughter, he made Nivita a director in the same company from 15th November 078. In the study of the board itself, it has been found that Pradhan traded 3 lakh 66 thousand 580 shares worth Rs 185 million 72 thousand 947 in the name of wife Vimala. Pradhan bought 5 thousand 364 shares and sold 70 thousand 434 shares in the name of his son Chetan and traded 75 thousand 798 shares worth 4 crore 8 lakh 49 thousand 365 rupees.