Tuesday, March 18, 2008

SC Penalises NRB Guv, ED on Corruption Charges

The Supreme Court today penalised two top officials of the Nepal Rastra Bank (NRB) -- governor Bijaya Nath Bhattarai and executive director Surendra Man Pradhan in a corruption case.Issuing a verdict in a corruption case filed against Bhattari and Pradhan, a single bench justice Tahir Ali Ansari said: "SC found that the duo embezzled 51,732 US Dollars by terminating a contract signed with a joint venture of Lloyd Hill Oakton, USA, in association with KPMG, Sri Lanka". The apex court has asked them to pay a fine equal to the amount embezzled.On June 29, 2007, the Commission for the Investigation of Abuse of Authority had filed the case against Bhattaai and Pradhan claiming that they had caused a loss of Rs 30 million by terminating the contract. The contract was signed on February 6, 2006.The Special Court had transferred the case to the apex court on February 17 after the Special Court judges could not decide the case.

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