Former Finance Minister Bishnu Poudel Accused of Corruption; Rs 20.9 Crore Claimed

Kathmandu. Former Finance Minister Bishnu Poudel has been charged with corruption in the Special Court. The Department of Money Laundering Investigation has claimed an amount of Rs 20.9 crore against Poudel.

Poudel, who was arrested on Asar 8, facilitated the purchase of shares in Shriram Tobacco Company Pvt. Ltd. for businessman Deepak Bhatt by misusing his position, according to the investigation findings. In his statement to the investigation officers, Poudel claimed that he did not tell the directors of Shriram Tobacco Company to give 20 percent of the shares to Deepak Bhatt's company.

In his statement, he said, 'The allegation that I told the directors of Shriram Tobacco Industry to give shares to Deepak Bhatt's company and arranged a meeting is completely false. I have no involvement in the mutual relationship between Deepak Bhatt and Shriram Tobacco Industry.'

Poudel stated that he was acquainted with the directors of Shriram Tobacco Industry only because they were residents of his constituency. In his statement, he said, 'The claim that I facilitated the transfer of 20 percent shares of Shriram Tobacco Industry Pvt. Ltd. to Deepak Bhatt's company as per my instruction is false.'

Similarly, Poudel claimed that he did not target Shriram Tobacco when giving consent for the import of tobacco. In his statement, he said, 'The Ministry of Industry, Commerce and Supplies is the responsible body for tobacco import. The Ministry of Finance has agreed to 'submit a proposal to the Government of Nepal (Cabinet) to determine the required quantity for industrial purposes based on need and justification and ensure that it is not misused' from the concerned ministry. Other allegations are baseless and false. When agreeing to the import of tobacco, the concerned ministry did not target Shriram Tobacco Company Pvt. Ltd. or any other manufacturing company, firm, or individual.'

• Poudel's Full Statement:

The Insurance Authority of Nepal is an autonomous body established and operating in accordance with the prevailing laws, so there is no legal provision for the Finance Minister to direct it. The details of the complaint against me are entirely false. There is no truth to the allegations against me. These allegations are not based on facts and evidence. The authority to grant licenses to Himalayan Reinsurance and other micro-insurance companies lies with the Insurance Authority of Nepal. I have no involvement with anyone regarding the granting of licenses to Himalayan Reinsurance and other micro-insurances, API policies, broker licenses, and the new stock exchange. All allegations against me are baseless and completely false.

The allegation that I told the directors of Shriram Tobacco Industry to give 20 percent of the shares to Deepak Bhatt's company and arranged a meeting is completely false. I have no involvement whatsoever in the mutual relationship between Deepak Bhatt and Shriram Tobacco Industry. It is normal to know the directors of the industry because they are residents of the constituency from which I am contesting elections. The claim that I facilitated the transfer of 20 percent shares of Shriram Tobacco Industry Pvt. Ltd. to Deepak Bhatt's company as per my instruction is false. I cannot be held responsible for the mutual transactions of any person or business that I am unaware of or not involved in.

The allegation that I misused my position and influence as Finance Minister to arrange the sale of high-value shares of Shriram Tobacco Industry Pvt. Ltd. at a low price to Himalayan Assets, controlled by the defendant Deepak Bhatt, is completely false. I am unaware of the large amount of money received by Deepak Bhatt's company as dividends from the said company. I have not arranged any scheme to help him conceal or evade the illegal source of his assets. I have no involvement in such activities. The allegations against me are factually incorrect, baseless, and false.

The Ministry of Industry, Commerce and Supplies is the responsible body for tobacco import. The Ministry of Finance has agreed to 'submit a proposal to the Government of Nepal (Cabinet) to determine the required quantity for industrial purposes based on need and justification and ensure that it is not misused' from the concerned ministry. Other allegations are baseless and false. When agreeing to the import of tobacco, the concerned ministry did not target Shriram Tobacco Company Pvt. Ltd. or any other manufacturing company, firm, or individual.

I was not even aware of the complaint against Shriram Tobacco Industry Pvt. Ltd. in the Revenue Investigation Department. It is beyond imagination that I would facilitate something I am unaware of or that is against the law.

The allegation that I arranged for the license of Janakpur Cigarette Factory to be given to Shriram Tobacco Industry Pvt. Ltd. is completely false. In the decision of the Government of Nepal (Cabinet) dated Baishakh 15, 2082, based on a proposal from the Ministry of Finance, it was stated that to reduce the financial and administrative burden on the Government of Nepal due to increasing expenses in public enterprises that have been closed for a long time and are operating at a continuous loss, the government's investment in such enterprises would be managed. Accordingly, approval was granted to manage the government investment in seven public enterprises including Janakpur Cigarette Factory Limited, Gorakhkali Rubber Industry, Udaipur Cement Industry Limited, Hetauda Cement Industry Limited, Nepal Metal Company Limited, Butwal Textile Factory Limited, and Nepal Orient Magnesite Pvt. Ltd. in accordance with Section 6 of the Public Enterprises (Government Investment Management) Act, 2050, and to publish the notice in the Nepal Gazette. The second part of that decision states that the report should be submitted to the Government of Nepal (Cabinet) within three months after completing the tasks mentioned in the first part.

The claims that I facilitated the complaint in the Revenue Investigation Department, arranged for the purchase of shares of Himalayan Reinsurance without premium, gave the brand 'Yak Cigarette' of Janakpur Cigarette Factory to Shriram Tobacco Industry, and facilitated the purchase of shares of various micro-insurance companies in exchange for 20 percent shares with Deepak Bhatt are baseless and false. I have not done any such acts. I have not gained any benefit by illegally assisting or facilitating money laundering or other offenses for anyone. I have not misused my position and influence. I have not assisted or facilitated Deepak Bhatt in committing money laundering offenses. As the coordinator of the steering committee formed for the purpose of money laundering prevention and in my capacity as Finance Minister, I have not violated my legal duties to assist or facilitate the defendant Deepak Bhatt in committing offenses.

I do not know the individuals named Ram Prasad Dhakal, the alleged chairman of Shriram Tobacco Industry Pvt. Ltd., and Sarvan Beriwal, a director. I know Chunnu Prasad Sharma, Kamal Kishore Malpani, and Tan Bahadur Pandey. They are individuals from the constituency from which I contest elections. I have no personal dealings, transactions, or business partnerships with them. I have mobile contact with acquaintances.