SC Orders Sumargi to Deposit Withdrawn Amount

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SC Orders Sumargi to Deposit Withdrawn Amount

January 11: The Supreme Court (SC) has issued a written order to the proprietor of Muktishree Cement Industry, Ajaya Raj Sumargi, to deposit the amount he had recently withdrawn from bank.

The decision comes almost two weeks after the apex court allowed businessman Sumargi to withdraw money deposited in bank despite being blocked by the Nepal Rastra Bank. A single bench of Justice Deepak Raj Joshi had issued a short-term stay order on December 25, directing  the authorities concerned not to prevent Sumargi from withdrawing the amount from the bank. Following the stay order, Sumargi had withdrawn USD 7 million from his bank account.

However, a division bench of Chief Justice Cholendra Shumsher Rana and Justice Dr Ananda Mohan Bhattarai on Tuesday denied continuing the previous order, terming the decision to be wrong.

Subsequently, the SC on Wednesday issued the written directive to Sumargi to deposit the withdrawn amount in the same bank account.


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