Himal Press 
This combo photo shows Deepak Bhatta (left) and Sulabh Agrawal.
KATHMANDU: The Kathmandu District Court has granted a seven-day remand for businessmen Deepak Bhatta and Sulabh Agrawal in connection with an ongoing money laundering investigation.
A bench of District Judge Tilak Bahadur Karki on Wednesday allowed authorities to keep the two in custody for further investigation.
The Department of Money Laundering Investigation (DoMLI) had sought a 30-day remand for the two, arguing that the investigation has reached its final stage.
“The investigating officer present on behalf of the investigating body has stated that the investigation work has reached its final stage, and that it is necessary to keep the accused in custody for some more time to conduct the investigation regarding the related case within the scope of the property and documents attached for property confiscation, and to prepare the charge sheet,” the bench said in the order. “Since the investigation has been completed and the charge sheet, along with the case file, is being prepared, permission is granted to keep the accused in custody for seven days under Section 19 (1) of the Asset (Money) Laundering Prevention Act, 2008, for the purpose of preparing the charge sheet.”
The DoMLI arrested Bhatta in coordination with the Central Investigation Bureau (CIB) of Nepal Police on April 2 and Agrawal three days later.
Investigating officers of DoMLI are examining multiple suspicious transactions linked to Bhatta and Agrawal, including the transfer of Rs 450 million from Jagadamba Steel, owned by Agrawal, to Bhatta’s personal account. Officials say Bhatta used the money, through his firm Infinity Holdings, to invest in Himalayan Re-insurance Company.
