BANKE, July 30 : Government authorities have filed a case at the High Court Tulsipur, Nepalgunj bench, in connection with the Rs 2.5 billion embezzlement scandal involving Karnali Development Bank. The lawsuit filed by the District Government Attorney’s Office, Banke demands recovery of Rs 3.2 billion from 109 individuals.
According to the court’s information officer Bal Bahadur Bisht, the case has been formally registered. Among the accused, Rajendrabir Rai, Ved Prakash Singh Thakuri, Pashupati Dayal Mishra, and Bhuvan Basnet appeared before the court, while the remaining 105 individuals are absconding. Statements from the four arrested individuals will be recorded starting Thursday.
On December 26, 2024, Nepal Rastra Bank had declared the development bank as problematic. The bank had reported total deposits of Rs 4.9 billion. Karnali Development Bank was established in 2013 AD.