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According to the Kathmandu District Court order, Ravi Lamichhane, then managing director of Gorkha Media Pvt Ltd and chairman of the National Independent Party, applied to purchase 1,80,000 shares of Gorkha Media Network Pvt Ltd.
In the order of Kathmandu District Court Judge Madhav Prasad Adhikari to release Lamichhane on a bond of 60 lakhs, it is mentioned that Lamichhane is not only the managing director of Gorkha Media but also bought shares.
'Swarna Lakshmi Multi-Purpose Co-operative Societies, although it is seen that he is innocent as he has not taken any money, but the defendant Ravi Lamichhane is willing to invest in 1,80,000 shares of Gorkha Media Network Pvt. He applied to get permission to purchase 1,80,000 shares out of the shares, and when he took the shares, he saw that the shares of the said company were purchased. It is seen that the defendant is also a shareholder and managing director of Gorkha Network Media Pvt Ltd,' the order said.
Lamichhane had stated that the shares were through 'sweat shares', but the court has written in the order that there is evidence that he bought the shares. "This defendant Ravi Lamichhane is the managing director of Gorkha Network Media Pvt. Ltd., he did not buy shares from Gorkha Media Network Pvt. Ltd., he got the shares as sweat shares. It is mentioned in the order that even though I resigned from the said company, I transferred the shares without taking the money for the shares. Lamichhane stated that he did not know anything about the money coming from Swarnalakshmi Multi-Purpose Cooperative to the account of Gorkha Network Media Pvt.
Lamichhane has been denying his involvement in cooperative fraud. He also gave a denial statement to the public prosecutor and the court. "Despite Ravi Lamichhane's denials in the statement before the investigating officer and this court, it appears that a criminal complaint has been filed against these defendants," the order states.
