5-Day Extension Granted for Further Investigation Against Shankar Group Director Sulabh Agrawal

March 5, Kathmandu – The Kathmandu District Court has extended the investigation period by five days for Sulabh Agrawal, director of Shankar Group. Agrawal was arrested on Sunday on charges related to money laundering. Following the court hearing, spokesperson Deepak Kumar Shrestha confirmed that due to the necessity for further inquiry, the investigation period against him has been extended by five days.

The Department of Money Laundering Investigation is actively progressing with inquiries into Agrawal. He was previously arrested in 2019 on allegations of attempting to sell thermal guns used to measure body temperature at inflated prices, after which he was released on bail. Earlier this week on Friday, Shankar Group’s chairman, Shankarlal Agrawal, was also arrested but was released after completing his statement.

Shankar Group is one of Nepal’s leading business families, with its principal company being Jagadamba Steel. The group has diversified investments across steel production, cement, hydroelectric power, and consumer goods sectors in Nepal.