. It has been revealed that businessman Deepak Bhatta and others have been involved in borrowing transactions worth around Rs 4 billion in the share market. A research conducted by the Securities Board of Nepal (SEBON) has shown that and persons of business houses including have registered Bhrikuti Stock Broker (Broker No. 55) has been found to have borrowed transactions worth about Rs 4 billion.

According to the Board, Deepak Bhatt and others have registered Broker No.It was found that shares worth Rs 3.80 billion were purchased from the same broker in collusion with 55 companies on borrowed money. 

According to the Board’s investigation report, Deepak Bhatta has the highest amount of Rs 2.7 3 billion. Similarly, Bhatta’s partner Raj Bahadur Shah is also due to pay Rs 89.70 crore.

Subi Agrawal also paid Rs 62.89 crore and Rishiraj Mor Rs 23.01 crore. 55 is yet to be paid. On the other hand, there was a loan transaction of Rs 22 lakh in the name of Himalaya Investment Banker Limited, according to the report of the board. 

On the other hand, the board has also revealed that businessman Deepak Bhatta has been trading ‘insider in the stock market. Bhatta along with Sulav Agrawal, Raj Bahadur Shah, Rishiraj Mor and Shekhar Golchha were also involved in the scam. 

According to the research report of the board, Bhatta and others had increased the price of Nepal Re-Insurance from 1,461 to 1,886 without buying and selling .On the other hand,Bhatta purchased the debentures from Himalayan Re-Insurance for Rs 1, for Rs 1,080, according to the investigation.

In the investigation conducted by the Securities Act, 2006, it has been claimed that Bhatt and others have committed the offence of (creating confusion in the market, inflating artificial prices, deceiving investors ) under Sections 96 and 98 of the Securities Act, 2006.

The Board had formed a probe committee under the leadership of Investigation Officer Dipesh Tamrakar on March 2 as per the letter of the Department of Money Laundering Investigation.The committee has already submitted its report on April 14.