Realtor Sudhir Basnet has been released after submitting bails at four different courts.
He was released
Sunday evening after submitting bail at Bhaktapur District Court, according to Jailer at the Dilli Bazar Jail Arun Pokharel. Basnet, who was jailed after not being able to submit bail, had submitted bail in three courts.
Basnet has over a dozen pending cases in the district courts in Bhaktapur, Kathmandu and Syangja, and the Patan High Court. "He has been released on date after submitting bail amount in Bhaktapur District Court. He has not been given a clean chit," Pokharel said.
The Supreme Court (SC) in August 2014 had ordered arrest of chairman of Oriental Cooperative who was accused of not returning the savings of commoners. He was arrested on charge of misappropriating Rs 1.60 billion of commoners.
He had invested savings of depositors of Oriental Cooperative in housing projects by violating cooperatives regulations.
He has also defaulted on loans taken from different commercial banks. He has borrowed Rs 700 million from different banks including Rs 217.10 million from Rastriya Banijya Bank, Rs 204.60 million from Prime Commercial Bank, Rs 73.60 million from Kumari Bank, Rs 61.50 million from Siddhartha Bank, Rs 140.60 million in the name of Kohinoor Hill Housing and Kohinoor Builders.
He has also borrowed Rs 200 million from NIC Asia Bank in the name of Oriental Builders.
