Kathmandu, April 21 -- The Central Investigation Bureau (CIB) is conducting an investigation against controversial businessman Durga Prasai on charges of banking offence and money laundering.

According to Superintendent of Police Sudhirraj Shahi, spokesperson for CIB, a case was registered on March 30 under the Banking Offences and Punishment Act and the Money Laundering Prevention Act.

The Patan High Court, Lalitpur, granted permission to arrest Prasai for further investigation, Shahi said.

"Prasai and firms and companies associated with his family are accused of misusing loans obtained from various banks and financial institutions," said SP Shahi. "Suspicious transactions have also been detected in their bank accounts."

Nepal Rastra...