Agrawal, who is also the chairman of Jagdamba Holdings under the Shankar Group, was taken into custody by the Money Laundering Department this morning.
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Shankar Group director Sulabh Agrawal has been arrested in a money laundering case. Agrawal, who is also the chairman of Jagdamba Holdings under Shankar Group, was taken into custody by the Money Laundering Investigation Department this morning.
It has not been disclosed where he was arrested. The department had taken Shankar Group chairman Shankarlal Agrawal, who is also Sulabh's father, into custody from Kathmandu on Friday during the investigation.
Soon after Shankar Agrawal was arrested during the investigation into suspicious financial transactions between Infinity Holdings and Shankar Group, his son Shulav was also arrested.
Based on a letter from the Money Laundering Investigation Department, the Central Investigation Bureau (CIB) of the police arrested Infinity Holdings chief Deepak Bhatt from Naxal, Kathmandu, on Thursday.
Agrawal has been detained at the District Police Complex, Lalitpur. After suspicious financial transactions worth crores were noticed, Nepal Rastra Bank had sent a letter to the department two and a half years ago to investigate the financial transactions between Shankar Group and Infinity Holdings.
Then the department took an initial statement from Bhatt in December 2020. But after only conducting a general investigation, the department returned the complaint to the Rastra Bank without filing a case in April. After senior Rashtriya Swayamsevak leader Balendra Shah became the Prime Minister, the department revived the old file and started the investigation again.
