KATHMANDU: Police on Thursday arrested Shekhar Golchha in connection with the insider trading of Nepal Reinsurance Company.
A team of the Central Investigation Bureau (CIB) of Nepal Police arrested Golchha from Narayanchaur in Kathmandu. “Golchha has been arrested for questioning in connection with the insider trading of Nepal Reinsurance shares,” said a CIB source.
The Securities Board of Nepal had recommended to the CIB to conduct the necessary investigation in this matter. “Golchha was arrested on the basis of this recommendation,” said a source, “The Securities Board of Nepal has pointed out that Golchha was involved in the share trading of Deepak Bhatta, who was arrested in connection with the money laundering investigation. That issue is the main reason for Golchha now.” Businessman Bhatta is currently in police custody.
Golchha had resigned from the post of chairman of Himalayan Reinsurance on March 25. He is also the former president of the Federation of Nepalese Chambers of Commerce and Industry.
