Businessmen Deepak Bhatt and Sulabh Agrawal Face Hearing in Money Laundering Case

Kathmandu. A hearing on detention and release of businessmen Deepak Bhatt and Sulabh Agrawal, who have been prosecuted in a money laundering case, is being held at the Special Court today. After the statement is completed today, the hearing on detention and release will be held in the bench of Special Court Chairman Sudarshan Dev Bhatta and judges Umesh Koirala and Bidur Koirala. After the hearing on detention and release, the court will make a decision to either send them to jail or release them on bail.

As the statement was not completed on Monday, both were sent to judicial custody. A claim of Rs 26,632,771,059.68 has been made against the defendant Bhatt for money laundering. Deepak Bhatt, Shankar Group director Sulabh Agrawal and Shankar Lal Agrawal, Sandeep Chachan Agrawal and Amit Mor have been named as defendants in the money laundering case. Sandeep Chachan is the chairman of the brokerage company Broker No. 55.

A case has been filed against them for money laundering by misusing funds from companies including Himalayan Re-Insurance. Deepak Bhatt was arrested on Chaitra 19 for investigation in the money laundering case. Shankar Group director Sulabh Agrawal was arrested on Chaitra 22.

According to the charge sheet submitted to the court, they are accused of adding an additional value of Rs 35,688,6023 to their owned house and land in the fiscal year 2074-75 and adding it to their assets. It is claimed that an additional capital of Rs 45 crore was added to Infinity Holdings Pvt. Ltd. in FY 2077-78.

Similarly, it has been found that an additional capital of Rs 95 million was added in FY 2079-80. The Department of Money Laundering Investigation claims that these amounts were increased from funds obtained through banking offenses by misappropriating loans.