The Kathmandu District Court has refused to grant permission to keep businessman Shekhar Golchha in custody for investigation.
On Tuesday, a bench of Judge Mona Singh rejected the request for his remand, according to court officer Hemanta Bhattarai.
"The request was denied, stating that bail has already been accepted following the Supreme Court's order, and that if investigation is necessary, it should be conducted by keeping him out on guarantee," he said.
Earlier, a joint bench of Justices Mahesh Sharma Paudel and Shreekanta Paudel at the Supreme Court had issued a mandamus order directing authorities to conduct necessary investigation by releasing Golchha on bail or guarantee.
He was being investigated under the Securities Act, 2006. However, the Supreme Court issued the mandamus ordering his release, citing Section 104 (1) of the act, which allows accepting bail or guarantee during an investigation.
Accordingly, the Central Investigation Bureau (CIB) had taken Rs 500,000 as bail from him.
However, the Supreme Court had not addressed the issue of investigation under the Insurance Act, 2022. Based on that, the CIB sought an extension of Golchha’s custody for separate charges, but the district court rejected the request.
