Fiscal Nepal
First Business News Portal in English from Nepal
Shankar group chair directors
KATHMANDU: Shanker Lal Agrawal, chairman of the Shanker Group, has been released after completing his statement at the Department of Money Laundering Investigation.
Director General Gajendra Kumar Thakur confirmed that Agrawal was freed after his बयान process concluded. He had been detained a few days earlier as part of an ongoing money laundering investigation.
Meanwhile, the Kathmandu District Court has extended the custody of Sulabh Agrawal by five days for further investigation. He was arrested on Sunday on charges related to money laundering.
Court spokesperson Dipak Kumar Shrestha stated that the extension was granted following initial hearings.
The investigation into the Agrawals is ongoing, with authorities examining alleged financial irregularities. The Shanker Group, whose flagship company is Jagdamba Steels, is one of Nepal’s leading industrial conglomerates with investments across multiple sectors.
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