Kathmandu. The court has allowed the police to arrest Kedar Singh, the manager of Laxmi Sunrise Bank. The court has allowed the police to investigate the case of cheating and criminal breach of trust.
He has been accused of collusion in the case of approving the loan, not giving the loan but auctioning the collateral.
He has also been automatically suspended from the bank after a case of cheating and criminal breach of trust was registered against him. According to the Employee Bylaw of the bank approved by the Rastra Bank, the employee will be automatically suspended from the day the case is registered in the court for a criminal offense.
The apex court has also ordered the arrest of former CEO of the bank Suman Sharma, employees Subodh Joshi and credit head Rabindra KC.
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