Kathmandu. Smart Telecom had become the property of the government. The bank could not auction it as it was already a government property. Moreover, Ncell would not have been able to participate in the auction. The then chairman of Nepal Telecommunication Authority (NTA) Bhupendra Bhandari and the then governor of Nepal Rastra Bank, Maha Prasad Adhikari, joined the government.
Bhandari has now been arrested. The CEO of the bank has been arrested. An arrest warrant has been issued against the promoter and a warrant has also been issued against the bosses of Ncell. All of their accounts have been frozen.
The Central Investigation Bureau (CIB) of Nepal Police has submitted its investigation report to the District Government Attorney Office, Kathmandu in connection with the illegal auction and embezzlement of properties worth billions of rupees of Smart Telecom.
The report has recommended action against 22 people including former officials of Ncell, NIMB Bank, then Smart Telecom and Nepal Telecommunication Authority (NTA). It has also been suggested that they should claim about Rs 96 billion in damages.
Now, after studying the CIB report, the District Government Attorney’s Office will prepare to file the charge sheet at the Kathmandu District Court.
If this offense is proved, the bosses of Nepal Investment Mega Bank to Ncell may be in jail and may have to pay a huge financial loss. Those who have been misbehaving with the help of political power for a long time are now in the trap of the law after the new government came to power.
