Mandamus prohibiting the use of money by Businessman Sumargi

KATHMANDU: The Supreme Court has issued a mandamus order asking the banks not to allow the use of money businessman Ajay Sumargi brought from abroad, reasoning the source of money. A division bench of Chief Justice Cholendra Shumsher Rana and Justice Bam Kumar Shrestha decided that the money Sumargi brought from abroad could not be allowed for use.

“The money stashed in the bank account of Sumargi’s company does not have the condition to be released for use,” the order said, asking for the clarity over the source of the money. “Was the anti-money laundering act attracted while bringing in the money? The related body need to make decision whether it has to take action,” the order read.

Businessman Sumargi had brought the hefty amount of some RS 800 billion, which was banned by Nepal Rastra Bank for use.