NIMB Addresses Situation Following CEO’s Custody

April 13, Kathmandu – Nepal Investment Mega Bank (NIMB) has issued a statement drawing attention to recent media reports about its Chief Executive Officer Jyotiprakash Pandey being taken into custody by the Central Investigation Bureau (CIB) of Nepal Police for investigation. According to the bank’s press release issued on Wednesday, the CIB has detained CEO Pandey over allegations related to the auction sale of assets belonging to debtor Smart Telecom Pvt. Ltd.

The bank stated that an investigation is ongoing regarding pending payments for leased properties and electricity charges that Smart Telecom was supposed to settle with the landlords of properties connected to various telecommunications equipment and materials being auctioned. NIMB emphasized that these proceedings are part of the regular loan recovery process and affirmed its commitment to providing all necessary documents and information promptly.

NIMB had previously announced an auction notice on September 19, 2025 (3 Ashoj 2082 BS) concerning various equipment and materials associated with the debtor Smart Telecom. From the total auction proceeds amounting to NPR 460 crore, NPR 422 crore has been utilized to repay the co-financed loan facility, while the remaining NPR 38 crore has been withheld in an ‘earnest money auction account.’ The bank also reassured stakeholders that the investigation will not adversely affect its daily operations.