Kathmandu, May 28
The Supreme Court has ordered authorities not to allow businessman Ajeya Raj Sumargi to withdraw the controversial $75 million his company received as FDI.
The court has also ordered authorities to investigate into the source of the fund and determine whether Sumargi breached money laundering laws while trying to withdraw the money.
Sumargi, who received $75 million as FDI for his Muktishree Cement Industries, had moved the Supreme Court after the central bank refused to allow him to withdraw the amount. Then Justice Deepak Raj Joshee ordered the central bank to release the amount. But 14 days after the order, a bench of justices Cholendra Sumsher Rana and Ananda Mohan Bhattarai ordered that Sumargi not be allowed to withdraw the amount.
The case was settled by Chief Justice Rana and Justice Bam Kumar Shrestha on Monday. The bench has quashed Sumargi’s claim over the money and ordered an investigation.
