Jul 17, Kathmandu - Kathmandu District Court has ordered the release of businessmen Deepak Bhatt and Sulabh Agrawal on bail in cases related to securities and insurance offenses. After deliberation and hearing, Judge Shivprasad Acharya's bench granted bail to both individuals.

The court has set bail amounts of NPR 20 million for Sulabh Agrawal and NPR 15 million for Deepak Bhatt under the Insurance Act 2079 for offenses related to insurance. Additionally, separate bail requests for NPR 23 million for Agrawal and similar arrangements for Bhatt have been made under the Securities Act 2063.

In total, 81 individuals are involved in the case, and the court has ordered bail of NPR 15 million for Agrawal and NPR 10 million for Bhatt, according to Kathmandu District Court spokesperson Shiv Khatiwada.

Both Bhatt and Agrawal are currently under investigation for various financial crimes. Prior to this, they were also appearing in special courts regarding money laundering allegations.

With the recent court order, both businessmen can now face proceedings related to securities and insurance charges from outside custody, after furnishing the bail amounts. However, investigations and legal processes related to other charges remain ongoing in respective courts and authorities.