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Last Updated: Sun, 07.10.12 9:09

Shrestha arrested over taking Rs 446 million loan through insider lending from crisis-ridden Crystal Finance

Two weeks after the Nepal Rastra Bank’s (NRB) board declared Crystal Finance Company crisis-ridden, Dibya Kumar Shrestha was nabbed by the police on Saturday. Shrestha was arrested for allegedly taking loans worth Rs 446 million through insider lending from the finance company.

A team from the Central Investigation Bureau (CIB) of Nepal Police arrested Shrestha from a place nearby Saraswoti Campus in Kathmandu.

Shrestha's wife Anju Devi and daughter Alpana are among the promoters of the finance company. Shrestha has been accused of taking loans without any kind of collateral and against the banking norms. Nepalnews.com