Industrialist Shekhar Golchha has been released from custody after depositing a total bail amount of NPR 10 million following an order from the Kathmandu District Court.
The decision was delivered by a single bench of Judge Pratima Kumari Bhattarai Pokharel following a detention hearing on Tuesday. Court Information Officer Shiva Khatiwada stated that the court ordered Golchha to be released upon securing NPR 7.5 million for alleged insurance offenses and NPR 2.5 million for alleged securities offenses.
Golchha secured his release from custody by providing a bank guarantee for the specified bail sum.
The legal proceedings stem from a charge sheet filed at the court on June 10 by the District Government Attorney's Office, based on an investigation report compiled by the Central Investigation Bureau of the Nepal Police. Prior to this development, bail had also been sought from co-defendants Deepak Bhatta and Sulav Agrawal in connection with the same case.
The judicial proceedings will continue as the court moves forward with the next phases of trial and legal evaluation.
