Police arrest three for floating loans in illegal manner resulting loss to the company

Police have arrested then chairman of Nepal Sri Lanka Merchant Banking & Finance Ltd Rubi Joshi along with two board members Shreeram Lamichhane and Gaurishankar Chaudhary for floating loans in an illegal manner that is against the Central Bank.

While the Nepal Rastra Bank (NRB) had given final approval to the company to go for merger system with Nepal Bangladesh Bank, these accused members have said to be floated huge amount of loans without any records resulting some Rs. 353.1 million loss to the company, according to Central Investigation Bureau. nepalnews.com