Kathmandu court demands millions in bail from business defendants in insurance case

Kathmandu – The Kathmandu District Court has demanded bail amounting to millions of rupees from defendants with business backgrounds in three different cases.

The bench of Judge Shiv Prasad Acharya has been conducting continuous hearings since Ashadh 24, demanding bail from the businesspeople involved in these cases.

According to a complaint filed by the Nepal Insurance Authority, Kupondole, 42 individuals, including Deepak Kumar Shrestha, have been charged under the Insurance Act 2079.

In this case, the court has demanded a bail of 20 million rupees from defendant Sulabh Agrawal and 15 million rupees from Deepak Bhatt, as informed by Kathmandu District Court Information Officer Shiv Khatiwada.

Similarly, in a case related to the Nepal Securities Board, heard by Judge Acharya’s bench, an additional bail of 23 million rupees has been demanded from Agrawal. This case involves two defendants, including him.

In another case under the same Securities Act, related to Nepal Micro Insurance Limited, the bench has demanded 15 million rupees from Agrawal and 10 million rupees from Deepak Bhatt.

In this case, 81 individuals, including Nepal Securities Board Committee member Sujal Malla, have been charged. In total, across all these cases, a bail of 58 million rupees has been demanded from Sulabh Agrawal and 25 million rupees from Deepak Bhatt.