Prabhu Bank CEO Ashok Sherchan has been released on bail. The decision to release him was made by the Government Attorney's Office, Kathmandu, citing health reasons and the fact that the evidence requested by the court was not immediately available.

Additional Inspector General of Police (AIG) Manoj KC, head of the Central Investigation Bureau (CIB), said that Sherchan was released from custody after the decision of the government prosecutor. He said, “We had taken him for an extension of his remand as we still had to complete the work including the statement, but he has been released after the decision of the government prosecutor.”

Mohan Kumar Basyal, head of the Special Public Prosecutor’s Office, Kathmandu, said that the additional evidence was not immediately received as per the order of the special court bench when he was taken for an extension of his remand last time. “Since that evidence has not been received now, it seems that the investigation can be carried out even if he is kept outside,” he said, “There are also health reasons why he was not sent for an extension.”