KATHMANDU: The hearing of the case against Prabhu Bank CEO Ashok Sherchan has been postponed for Monday.
A writ petition was filed in Patan High Court demanding that the decision to appoint Ashok Sherchan as the Chief Executive Officer of Prabhu Bank should be annulled as it is against the law.
A joint bench of Judge Subhash Paudel and Dipendra Adhikari at Patan High Court is scheduled of whether or not to issue an interim order. However, The hearing was postponed after the officials of Prabhu Bank and Nepal Rastra Bank could not bear the complete documents.
Advocate Anita Thapa filed a writ petition in the High Court on January 27, demanding that the decision of the board of directors should be annulled, saying that Ashok Sherchan was appointed CEO contrary to the provisions of the Bank and Financial Institutions Act.
Moreover, Prabhu Bank’s CEO Sherchan has not only been accused of taking illegal appointments but also involved in issuing millions of loans in the name of his relatives. Central Investigation Bureau (CIB) of Nepal Police has been investigating the case.
