Nepal | July 14, 2020

Arrest warrant issued against Padma Jyoti

Himalayan News Service
Share Now:

Kathmandu, November 11

Kathmandu District Court today issued an arrest warrant against Padma Jyoti, chair man of Jyoti Group, in a case related to housing fraud.

A single bench of Justice Shree Krishna Bhattarai of KDC has permitted Metropolitan Police Range, Teku, to arrest Jyoti for further investigation, confirmed KDC Registrar Ananda Prasad Shrestha.

The arrest warrant follows the arrest of Padma Jyoti’s younger brother and Vice-chairman of Jyoti Group Roop Jyoti in the same case. On Thursday, police had arrested Roop, who is also the former state minister of finance and renowned industrialist, and his daughter Suruchi Jyoti from Tribhuvan International Airport on their return from Singapore.

Earlier, a case was filed by Bijendra Krishna Malla against Jyoti Group. Malla had complained that he paid Rs 27.6 million in instalments since September 2014 for a house at Bansbari, Budanilkantha, to Landmark Developers, in which the Jyoti Group has a stake, but he still has to get possession of the house.

Meanwhile, the Federation of Nepalese Chambers of Commerce and Industry has expressed its deep concern about Jyotis’ arrest. “The arrest of members of Jyoti Group has created havoc in the entire private sector. Such activities will certainly affect the business environment and discourage investment in the long run,” said Shekhar Golchha, senior vice-president of FNCCI.

Stating that the government could have launched an investigation into the case without taking the Jyotis into custody, Golchha said frequent arrest of industrialists in this manner would have a lasting adverse impact on the business environment and overall economy of the country.


A version of this article appears in print on November 12, 2019 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Manchester United, Marcus Rashford, Premier League

United stay fifth after Saints grab last-gasp leveller

MANCHESTER: Manchester United's Champions League qualification hopes suffered a blow after an equaliser deep in stoppage time from Michael Obafemi earned Southampton a 2-2 draw in the Premier League at Old Trafford on Monday. United, unbeaten in 18 games in all competitions, were poised to m Read More...

Capital budget spending at two-decade low of 40 per cent

KATHMANDU, JULY 13 With just two days remaining for the 2019-20 fiscal year to end, capital budget expenditure throughout the year stands at one of the worst ever at 39.62 per cent. Officials at the Ministry of Finance said capital expenditure during the current fiscal year, which was primaril Read More...

Mayur company resumes bus service in Kathmandu

Kathmandu, July 13 Mayur Yatayat Company resumed its bus services from today in Kathmandu valley amid the COVID-19 pandemic. The decision of Mayur Yatayat has come as a relief to commuters at a time when other public transportation entrepreneurs were refusing to operate their services citing f Read More...

‘Press freedom should involve accountability’

Kathmandu, July 13 Minister of Communications and Information Technology Dr Yubaraj Khatiwada said the CIT Ministry ought to start digitisation first, by utilising the advancement of information technology. As the government has adopted a digital framework, we should become paperless in our activ Read More...

Absconding murder suspect held after 13 years

Kathmandu, July 13 Police have nabbed one of the two prime murder suspects of the much-hyped Sitapaila murder case that had happened 13 years ago. Two workers at a saw mill had allegedly killed its owner, his wife and inflicted serious injuries to their 15-year-old son on the night of 2 Januar Read More...

US debates school reopening, WHO warns 'no return to normal'

MIAMI: The resurgence of the coronavirus in the United States ignited fierce debate Monday about whether to reopen schools, as global health officials warned that the pandemic will intensify unless more countries adopt comprehensive plans to combat it. “If the basics aren’t followed, there is Read More...

landslide

COVID-19 control, disaster management top priorities

Kathmandu, July 13 Tokha Municipality in Kathmandu has set priorities for containment of COVID-19 crisis and disaster management in the budget for the upcoming fiscal year. The municipality that is located in the northern belt of Kathmandu unveiled a budget for Rs 1.58 billion for the fiscal y Read More...

US budget deficit hits all-time high of $864 billion in June

WASHINGTON: The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues. The Treasury Department reported Monday that the deficit hit $864 billion last Read More...