13 among NCC Bank board members held for financial irregularities

Kathmandu: Central Investigation Bureau (CIB) of Nepal Police on Friday arrested 13 persons including the board members of Nepal Credit and Commerce (NCC) Bank for financial irregularities.

NCC Bank’s board members Bishnu Dhital, Ichha Bahadur Gurung, and Durga Dutta Joshi among other 10 people were arrested for misappropriating Rs 1.59 billion, CIB sources said.

SP Ghanashyam Aryal said all the arrested individuals have been detained at CIB office in Maharajgunj, Kathmandu.

They were arrested for further investigation after Nepal Rastra Bank complained about financial embezzlement.

The Central Bank has accused the NCC Bank’s board members of disbursing loans by exceeding the value of collateral.

Subarna Raj Bhandari, Madhuban Lal Shrestha, Rishiraj Bhatta, Ram Chandra Basaula, Bikash Shrestha, Sagar Neupane, Man Bahadur Raut, Binit Mani Upadhyay, Mohan Kharel and Sudip Thapa were arrested.