The Central Bureau of Investigation (CIB) made the arrest in Kathmandu on Wednesday morning.
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Nepal Investment Mega Bank Limited Chief Executive Officer (CEO) Jyoti Prakash Pandey has been arrested. According to the police, Pandey was arrested at around 8 pm on Tuesday during a vehicle check in the bus park area of Kamalamai Municipality-6, Sindhuli. He was found running away with his mobile phone switched off.
Smart Telecom Pvt. Ltd., which came into operation after obtaining a basic telephone service license from the Nepal Telecommunications Authority on 2070 Baisakh 2, did not renew the license as per the rules. As per Section 25(5) of the Telecommunications Act, 2053, the license was automatically cancelled from 2080 Baisakh 3.
Thereafter, the Nepal Telecommunications Authority took control of all the company's assets, infrastructure and telecommunications network as per the Asset Management Regulations of Telecommunications Service Providers, 2079 BS.
The police have stated that Pandey, who is also the chairman of the Loan Recovery Committee (LRC), is being investigated on charges of irregularities in the auction process with the aim of dishonestly terminating the rights to the property of the Government of Nepal.
According to the police, in the auction notice published by Nepal Investment Mega Bank on Asoj 3, 2082, Smartcell had mentioned that it should include the house rent and electricity bill due to the landlord in the bid amount of about 400 million rupees.
However, the allegation that the landlord has not paid the house rent and electricity bill even after receiving the amount has become a subject of investigation.
