Kathmandu, July 1:

The Kathmandu District Court (KDC) today released Sitaram Prasain after he submitted

his property-related documents as collateral amounting to Rs 18.4 million.

“He has submitted the bail and we have set him free,” said Kathmandu District Court Registrar Krishna Ram Koirala. The KDC on Thursday had set Rs 18 million as bail amount to proceed with the bank loan default case filed by the Office of the Kathmandu District Government’s Attorney.

According to Koirala, he had submitted his and his relatives’ property-related documents

as bail.

The KDC also issued summons to the 48 others accused to attend the KDC in order to defend the case within 70 days as they were involved in the case of embezzling Rs 334 million.

Among the accused, the KDC has called: DB Gurung, Basudev Giri, Jang Bahadur Shrestha, Salikram Mathema, Bhagwat Shrestha, Kailash Bhakta Karanjit, Him Gurung, Sunil Gurung.

It has also called Nepal Rastra Bank’s licence holder evaluators — Narayan Babu Lohani, Binod Dawadi, Pramod Bahadur Thapa, Monalisha Silpakar, Purusottam Sharma and Kanchan Parajuli. The charge sheet claimed that the bank evaluators did not perform their duty while evaluating the collateral while releasing the amount.