Supreme Court issues show cause order on Jyotiprakash Pandey’s arrest

The Supreme Court has issued a show cause order on a habeas corpus petition filed against the arrest of Jyotiprakash Pandey, the CEO of Nepal Investment Mega Bank Limited. The order was made by the bench of Justice Abdul Aziz Musalman, following a petition filed by Pandey’s wife, Niru Dahal Pandey, demanding an explanation for his arrest.

The court has also instructed both parties to be present for a discussion on an interim order. Pandey was arrested by the Central Investigation Bureau of the police on Wednesday, in connection with the auctioning of assets belonging to Smart Telecom Pvt. Ltd.

The government has alleged that there was an attempt to illegally seize Smart Telecom’s assets. However, the bank maintains that the auction process was conducted in accordance with legal procedures and with the approval of Nepal Rastra Bank.

Despite following the regular process for the auction, accusations have been made against the government for exerting undue pressure on the businessperson.