Kathmandu District Court Judge Tilak Bahadur Karki's bench on Wednesday ordered an extension of the remand against Agrawal.
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Sulabh Agrawal, who was arrested for money laundering, has been given a seven-day extension of his remand.
Kathmandu District Court Judge Tilak Bahadur Karki on Wednesday ordered an extension of his remand. Along with Agrawal, businessman Deepak Bhatta has also been given seven more days to investigate. Bhatta was also arrested on Chaitra 19, 2082 for money laundering.
Agrawal, chairman of Jagdamba Holdings under Shankar Group, was taken into custody by the Money Laundering Department on Chaitra 22. The department had taken Sulabh's father, Shankar Group chairman Shankarlal Agrawal, under custody from Kathmandu during the investigation. But he has been released on bail.
Shankar Agrawal's son Shulav was also arrested soon after his arrest during the investigation into suspicious financial transactions between Infinity Holdings and Shankar Group.
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. After that, the department had taken an initial statement from Bhatt in December 2079. But after only a general investigation, the department had returned the complaint to the Rastra Bank in last Baisakh without filing a case. After senior Rashtriya Swayamsevak leader Balendra Shah became the Prime Minister, the department had revived the old file and started the investigation again.
