The Kathmandu District Court on Monday granted permission to keep Golchha in custody for an additional three days for investigation.
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Businessman Shekhar Golchha, who was arrested for an offence under the Securities Act, 2063, has been remanded for 3 days.
Kathmandu District Court Judge Dandapani Lamichhane on Monday granted permission to keep Golchha in custody for an additional 3 days for investigation. He was arrested by the Central Investigation Bureau of the Police from Naxal area on Thursday.
Based on the preliminary investigation report of the Nepal Securities Board, Golchha, in collusion with the then Chairman of Himalayan Reinsurance Limited, as per Sections 94, 95, 96 Sub-section (1) and Section 98 of the Securities Act, 2063, the Bureau received the preliminary investigation report of the Board, 2083, for further investigation and action in the offence.
Golchha is the former president of the Federation of Nepalese Chambers of Commerce and Industry.
The Securities and Exchange Board of Nepal had prepared an investigation and supervision report on the collusion of a group of controversial businessmen, Deepak Bhatta and Sulabh Agrawal, in which six people, including Golchha, are suspected of collusion.
