RCCC grilling on CIT cases Kathmandu, July 15-The Royal Commission for Corruption Control (RCCC) Thursday started seeking explanations from the executive director of the Citizen Investment Trust (CIT) Nandahari Sharma, deputy manager Shushil Kumar Sharma and debtor Nisha Thapa.The investigation team of the Commission has filed cases, as per the Clause 17 of the Corruption Control Act 2059, against the three on charges of being involved in irregularities while issuing and taking loans from the Trust, the RCCC said.The CIT had issued about Rs. 50 million to debtor Nisha Thapa four months ago when she already was in the list of defaulter of the Standard Finance Company and Siddhartha Bank from where she had taken loan amounting Rs. 40 million and Rs.20 million respectively.The collateral, a piece of land at Putali Sadak, that was used for the CIT loan had already been deposited in the Standard Finance Company and Siddhartha Bank and the land was about to be auctioned by the finance company to recoup its loans.The investigation also found that Thapa had even taken Rs. 4 million loan from Harati Cooperatives with the same land as surety and the money was used to pay the interest to the finance company. The debtor has found that she has taken loan by creating shadow company named B N Supermarket and the CIT officials were found guilty of providing her the loan knowing that the land was used as collateral in another company. They are charged of misusing the deposits of the civil servants, the Commission said.The issuance of the loan was also against the criteria of the CIT Act 2047, the RCCC said. All three are under judicial custody.

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