Prabhu Bank CEO Ashok Sherchan Released on Bail

Kathmandu — Prabhu Bank Limited Chief Executive Officer Ashok Sherchan has been released on bail, following a decision by the Special Public Prosecutor’s Office on Friday.

Sherchan had been in custody for 26 days before the order for his release was issued.

He was arrested on November 14 from Prabhu Bank’s central office in Babarmahal, as part of an ongoing investigation. Officials have not disclosed further details regarding the conditions of bail or the next phase of the legal process.

Authorities said the investigation related to the case is still ongoing, and Sherchan may be required to cooperate further as proceedings continue.