Shankar Agrawal, the owner of Shankar Group, has been arrested.
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Shankar Group owner Shankar Agrawal has been arrested.
The Central Investigation Bureau of the police arrested Agrawal from Kathmandu on Friday on charges of money laundering.
The Money Laundering Investigation Department is investigating Agrawal. The department had sent a letter to the bureau to arrest and produce him in the course of its investigation.
Shankar Group chairman Agrawal has been arrested after businessman Deepak Bhatt was arrested in a money laundering case. According to police sources, other members of Shankar Group have also been drawn into the investigation.
Agrawal is the founding chairman of Shankar Group. Shankar Group is a leading business house in Nepal. The main company is Jagadamba Steel. Along with steel, this group has invested in sectors including cement, hydropower, consumer goods, trade and others in Nepal.
This group has been operating many businesses in partnership with another controversial businessman, Deepak Bhatt, in recent years. Bhatt was arrested by the police on Thursday and is being investigated. Agrawal was also arrested today in the same process.
* In the news published earlier, Sulabh Agrawal of Shankar Group was arrested, but his father Shankar Agrawal has been arrested, so an error has been corrected with an apology. -S.
