Kathmandu- In the high-profile embezzlement case involving Mahalaxmi Bikas Bank’s Gokuleshwor branch in Darchula, the High Court’s Mahendranagar Bench has ordered mixed custodial outcomes for the four accused bank employees. Two have been released on bail, while the remaining two have been sent to judicial custody for pre-trial detention. The case, involving alleged misappropriation of Rs 28.5 million, is still under investigation.
Bail for Two Employees
According to the court order, Ambadatta Pant, an employee at the customer support desk, has been released on bail of Rs 1 million, while Dhananjaya Pant, an employee of the credit department, has been released on bail of Rs 2.5 million.
District Police Office, Darchula, Inspector Bikram Bahadur Shahi confirmed that both accused were released after depositing the bail amounts as directed by the court.
Two Sent to Jail for Pre-Trial Detention
Meanwhile, Sagar Shahi, the then branch manager of the Gokuleshwor branch, and Nirmala Saud, an employee of the cash department, have been remanded to prison pending trial. Police said the court decided to keep them in judicial custody considering the gravity of the charges and the ongoing investigation.
Background of the Case
All four employees were arrested earlier on charges of embezzling Rs 28.5 million from the bank. According to police investigations, the accused allegedly diverted funds that should have remained in the bank’s vault and invested them in the online gambling platform ‘One X Bet’, which is banned in Nepal.
The arrests were made in mid-July, after which the accused remained in police custody for several weeks. During the investigation phase, their remand was extended multiple times—up to five extensions—by the High Court’s Mahendranagar Bench, citing the need for further inquiry and financial verification.
Investigation Still Underway
District Police Office spokesperson and Deputy Superintendent of Police Prakash Chandra Dahal has stated that the investigation is ongoing and has not yet reached a final conclusion. Police are examining banking records, transaction trails, and digital evidence linked to the alleged online betting activities.
Following the arrests, Mahalaxmi Bikas Bank suspended all four employees and appointed replacement staff to ensure uninterrupted banking services at the Gokuleshwor branch.
What Lies Ahead
While two accused are now out on bail and two remain in custody, police say the case is far from concluded. A final verdict will depend on the completion of the investigation and subsequent court proceedings.
The case has raised serious questions about internal controls, oversight, and regulatory compliance within banking institutions, particularly in remote branch operations.
