Home Minister Sudhan Gurung Linked to Controversial Business Figures

Kathmandu. It has been revealed that Home Minister Sudhan Gurung holds share investments in businesses linked to money laundering accused individuals, including Deepak Bhatt and Sulav Agrawal.

Gurung, who rose to a powerful position in a short time after entering politics alongside the Gen-Z movement that campaigned on slogans of good governance and change, was found to be a founding shareholder of Star Micro Insurance, a company that received its license under the influence of intermediary Deepak Bhatt.

Sudhan's name appears at number 49 on the initial share registry list of the insurance company. It appears he has invested 2.5 million rupees in shares in the company.

The company is a micro-insurance firm that received its license in 2079 BS. In the company, which has yet to issue an IPO, investments from Infinity Holdings—a company linked to Deepak Bhatt—as well as the Jagdamba Group and the Shankar Group are visible. The operators of these groups are currently in police custody during investigations into money laundering.

Although he holds shares in the insurance company, Sudhan did not disclose this in his asset declaration. In the asset details submitted by Home Minister Sudhan to the Office of the Prime Minister and Council of Ministers last week, he only mentioned founding share investments in companies named Hope Holdings and Anuj Premium Apartments.

Did you miss it?

Sudhan Gurung under question after connection with Deepak Bhatt revealed, what does the RSP say?

Additionally, he presented details of shares worth 27.4 million rupees traded in the securities market. However, these shares of Star Micro Insurance are not of the nature traded in the securities market, so they do not fall into this category.

When Surya Prasad Silwal was the chairman of the Insurance Authority, seven micro-insurance companies were granted licenses. It is widely discussed that all companies that received licenses in this manner did so under the influence of Deepak Bhatt. Being a founding shareholder of such a company and failing to disclose the details has raised questions about Sudhan's transparency.

Furthermore, it was previously revealed that the Shankar Group was at the forefront of providing the largest foreign and domestic donations to the organization 'Hami Nepal'. These incidents suggest that serious questions are being raised about him.

Attempts to reach Home Minister Gurung for comment on this matter were unsuccessful.