Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Supreme Court of Nepal has ordered the Central Investigation Bureau (CIB) to submit a written response within 24 hours regarding the detention of businessman Shekhar Golchha.
A single bench of Justice Nripdhwaj Niraula issued the order on Tuesday while hearing a habeas corpus petition filed against Golchha’s detention. The court directed authorities to present the detainee along with a written explanation through the Office of the Attorney General Nepal within 24 hours of receiving the notice, excluding travel time.
The petition was filed by Golchha’s wife, Seema Golchha, claiming that he was being held unlawfully and demanding his immediate release.
In its order, the court also instructed that copies of the petition be sent to the defendants, asking them to submit written responses within the given deadline. It further directed authorities to present the investigation file after the response is received or the deadline expires.
Golchha was taken into custody by the CIB last Thursday under charges related to violations of the Securities Act 2063, including Sections 94, 95, 96, and 98.
According to a preliminary investigation report prepared by the Securities Board of Nepal (SEBON), Golchha and others are alleged to have been involved in activities influencing the securities market through collusion and actions contrary to prevailing laws.
Based on the report, SEBON had recommended further investigation and legal action, leading to his detention by the CIB.
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