Businessman Shekhar Golchha arrested

Kathmandu / April 23: Businessman Shekhar Golchha has been arrested.

He was taken into custody by the Central Investigation Bureau (CIB) of Nepal Police.

CIB Spokesperson Shiva Kumar Shrestha confirmed that Golchha has been detained for investigation.

His arrest follows an investigation and supervision report prepared by the Securities Board of Nepal into alleged collusion in share trading involving controversial businessmen Deepak Bhatta and Sulav Agrawal, who are already in police custody in a money laundering probe.

The report names five individuals—Raj Bahadur Shah, Shubhi Agrawal, Rishi Raj More and Sandip Chachan, among others—as accused and identifies several others, including Golchha, as facilitators. It links the group to activities such as credit trading, price manipulation and unsettled transactions that may have artificially influenced share prices.

According to the report, funds associated with Golchha and several institutions were used by a stockbroker to purchase shares in the names of Bhatta and others. The broker is said to owe Golchha around Rs525 million.