The Abuse of Authority Investigation Commission has gone to the Supreme Court against the decision of the special court acquitting the defendant who was accused of misappropriating funds by providing loans illegally from Royal Merchant Banking and Finance Limited, which also owns Citizen Investment Fund.

The Authority has appealed to the Supreme Court on Thursday, claiming that the decision of the special court acquitting those involved in loan embezzlement by ignoring the established precedents and the facts/evidence revealed by the investigation, should be punished as per the demand.

The Authority had filed a special case a few years ago saying that Anoj Shrestha, the owner of NBDS Supermart Pvt. Ltd., should be punished for illegally extending loans from the fund, which is also an investment of the fund, with the connivance of the defendants, including the then director of the Citizens Investment Fund, Chibi Raman Adhikari, and the then director of finance, Vasant Malla.

In a case where fines and prison sentences were demanded for illegal financing of loans, the special judge acquitted the defendants saying that the claim was not sufficient. The decision of the Special Authority has been rejected saying that the precedent set by the authority has been ignored, the facts and evidence revealed by the investigation have been ignored.

The authority has filed a special case against the defendants Chairman of the Board of Directors of Finance Malla, Managing Director Madhuwanlal Shrestha, Director of Civic Investment Fund and representative appointed for Finance, Chabri Raman Adhikari, Director of Finance Bharatkaji Shrestha, Assistant General Manager of Finance Pradip Bahadur Karmacharya, Senior Manager Bikas Shrestha and Engineer Vikas Shrestha assigned for loan disbursements, with a demand of Rs. was . The bench of

special chairman Teknarayan Kunwar and member Ram Bahadur Thapa acquitted the defendants on the grounds that the demand of the authority was not met and that the case was pending in another court after investigating the banking offense and the amount of the Citizen Investment Fund was not revealed.

Similarly, among the defendants who were acquitted, 11 more people have been appealed with the demand for punishment. It is mentioned in the appeal that the officer, Malla and the debtor Ravin Lama should be imprisoned and fined 20 million 194 thousand 556 rupees for embezzling the loan against the banking procedure by giving more than the debtor's status. An appeal has been made against the defendants Vasant Malla, Madhuvan Lal Shrestha, Madhur Lal Sinya, Rita Bade Shrestha Sevacharya, Chhabiraman Adhikari, Bharatkaji Shrestha, Lokendraman Karmacharya and a fine of Rs. 11 lakh 54 thousand 708.

Adhikari, Sevacharya, Suvarna Rajbhandari, Bishnu Prasad Dhital, Ichcha Bahadur Gurung and Lokendraman Karmacharya should be punished with a fine of 1 crore 45 lakh 1 thousand 83 in the appeal.

Basant Malla, Madhuwanlal Shrestha, Madhurlal Sinya, Rita Bade Shrestha Sevacharya, Chhabiraman Adhikari, Bharatkaji Shrestha, Lokendraman Karmacharya and the defendant Manoj Kumar Vetwal, owner of Innovative Concept Nepal Pvt. Ltd., have been ordered to be imprisoned and fined Rs.

Similarly, it is mentioned in the appeal that Rs. Naresh Dahal, the owner of Panchkanya Suppliers Pvt. Ltd., a debtor from

Finance Limited, should be punished with a penalty of Rs. It has been claimed that the person involved should also be punished for giving a loan of Rs. Another creditor, Ram Bahadur Shah, director of Ram Shah Versatile Business Company, has been charged with imprisonment and a fine of Rs 43.5 million 98 thousand 566 for giving a loan contrary to the procedure mentioned in the credit investment guidelines. It has been said in the appeal of the authority that Mukunda Prasad Parajuli, the director of Mr. Hardware Shop from