KATHMANDU: Former Nepal Telecommunications Authority (NTA) chairman Bhupendra Bhandari has been released on Rs 2.5 million bail in the Smart Telecom asset auction case.
Kathmandu District Court Judge Umanath Gautam on Friday ordered Bhandari’s release. The Kathmandu District Government Attorney’s Office has charged him in a facilitator role based on the Nepal Police’s Central Investigation Bureau (CIB) investigation.
The case involves 22 defendants charged with fraud, organised crime and offences related to banking and financial institutions. The government has sought recovery of Rs 96.12 billion in alleged losses.
The CIB investigated alleged collusion in the auction of Smart Telecom’s assets after they came under government ownership.
