Seven-Day Remand Extended Against Sulabh Agrawal; Investigation Continues with Dipak Bhatta

KATHMANDU — A seven-day remand has been extended against businessman Sulabh Agrawal, who was arrested on charges of money laundering. The bench of Judge Tilak Bahadur Karki at the Kathmandu District Court issued the order for remand extension on Wednesday.

The court has also granted an additional seven days for the investigation against businessman Dipak Bhatta alongside Agrawal. Bhatta was also arrested on money laundering charges on April 1, 2026.

Agrawal, Chairman of Jagdamba Holdings under the Shankar Group, was taken into control by the Department of Money Laundering Investigation on April 4, 2026. During the course of the investigation, the department also took into control Shankarlal Agrawal, Chairman of the Shankar Group and father of Sulabh, from Kathmandu. However, he has been released on a surety bail.

Sulabh was arrested the day after his father was taken into custody, as part of the investigation into suspicious financial transactions between Infinity Holdings and the Shankar Group.

After observing suspicious financial transactions worth millions, the Nepal Rastra Bank had written to the department nearly two and a half years ago to investigate the financial dealings between the Shankar Group and Infinity Holdings. Subsequently, the department had taken a preliminary statement from Bhatta in January 2023. However, after only a general inquiry, the department returned the complaint to Rastra Bank without filing a case last year.

After Balendra Shah, a senior leader of the Rastriya Swatantra Party, became Prime Minister, the department revived the old file and resumed the investigation. The investigation is now progressing against both Sulabh Agrawal and Dipak Bhatta under the same case. With the court’s order, an additional seven-day period has been allotted for the investigation.