Agarwal, chairman of Shankar Group, partner of middleman Deepak Bhatt, arrested
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Media Baaji
- Sat, 4 April 2026
Kathmandu. Shankar Lal Agarwal, the chairman of Shankar Group, the business partner of Dipak Bhatt's business partner, the ever-powerful middleman, Shankar Lal Agarwal, has been arrested when there was a government led by Nepali Congress and CPN-UML0. The Money Laundering Investigation Department arrested him on Friday for investigation after he was linked to the business with businessman Bhatt, who was previously arrested for the crime of money laundering.
Bhatt was arrested on Thursday by CIB, Central Investigation Bureau of Nepal Police. At the request of the Money Laundering Investigation Department, Bhatt was arrested and handed over to the department itself. The District Court, Kathmandu has given the department a deadline to keep him in custody for 10 days. Sources said that a suspicious amount was deposited in Bhatt's account from the bank account of Jagdamba Steel under the Shankar Group.
The department has prepared to file a case in court against the accused including Bhatta claiming more than five billion rupees. After it was confirmed that Himalayan Re-Insurance and its subsidiaries had misused 3.81 billion rupees to buy the shares of companies including Nepal Re-Insurance, the department started an investigation against Bhatt.
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