KATHMANDU: The Special Court has ordered businessman Rishi Raj Mor to post Rs100 million in bail in a money laundering case before being released pending trial.

A joint bench of judges Narayan Prasad Paudel, Dilli Ratna Shrestha and Umesh Koirala issued the order on Thursday, directing that Mor be released on bail and remain on regular court attendance while the case proceeds.

According to the charge sheet, Mor is accused of conspiring with Deepak Bhatt and other defendants to manipulate the stock market and launder illicit assets. Prosecutors allege that the accused misused funds belonging to Himalayan Reinsurance, purchased shares in their personal names, and later sold those shares back to the company. They are also accused of colluding with Bhrikuti Stock Broking Company to influence the securities market.

In its order, the Special Court stated that Mor should be released after depositing Rs100 million in cash or submitting a bank guarantee of an equivalent amount, with the final determination of the allegations to be made after a full trial and examination of evidence.