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UML central member Mishra arrested over embezzlement at Karnali Development Bank

Setopati

Setopati

Kathmandu, July 2

FILE

Former chairman Pashupati Dayal Mishra has been arrested in connection with the Karnali Development Bank embezzlement case.

Superintendent of Police Yuvaraj Khadka, spokesperson for the Central Investigation Bureau (CIB) of Nepal Police, said that Mishra was arrested on Wednesday from Nepalgunj, Banke.

Mishra is also a central member of the CPN-UML. He was a candidate for mayor of Nepalgunj Sub-metropolitan City in the 2022 local elections but was defeated. Mishra served as the chairman of Karnali Development Bank from 2009 to 2018.

The CIB has concluded that over Rs 2.5 billion was misappropriated from Karnali Development Bank.

Police previously arrested 65-year-old Rajendra Bir Raya, former board member and the then-chief executive officer of the bank, in connection with the embezzlement.

Raya was apprehended by a CIB team in May from Belahiya, Siddharthanagar Municipality-1, Rupandehi. Mishra, however, had been absconding.

The police, in coordination with Nepal Rastra Bank, are investigating them under the Banking Offenses and Punishment Act.

#pashupati dayal mishra
#arrest
#karnali development bank
#embezzlement
#misappropriation
#cpn-uml
#uml
#central member

Published Date: 2025-07-02 17:47:00

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