Kathmandu. Sarbesh Joshi, the proprietor of Smart Telecom, has been arrested on the charge of auctioning the property of the government-owned Smart Telecom. Joshi was arrested by the Central Investigation Bureau (CIB) of Nepal Police (CIB). 

Joshi has been arrested on charges of cheating and criminal breach of trust, according to the CIB. 

What is ?

Nepal Investment Mega Bank had invested loan in Smart Telecom. However, the government took over the company after the business broke down and the license (license) could not be renewed. Currently, all the assets of Smart Telecom have been seized by the Nepal Telecommunication Authority.

However, Nepal Investment Mega Bank has recovered Rs 4.60 billion by auctioning various telecommunication equipment of Smart Telecom, which has already been taken over by the government. 

The bank has auctioned the company’s equipment and recovered Rs 4.60 billion by auctioning the equipment.After this, Bank has been saying that the transaction with Smart Telecom has been ‘‘. The CIB arrested Joshi on the charge of violating the government’s rights by selling the property owned by the government.

How was the property sold by the government?

Similarly, Nepal Investment Mega Bank had tried to raise the investment made in Smart Telecom since 2062 BS. However, after no one came in contact for the payment,the bank started the auction process on October 2, 2082. However, the license of the company was canceled on April 17, 2080 as per the ‘Telecommunication Act, 2053’ after the license could not be renewed. Since then, all the assets of the company have been taken over by the Telecommunication Authority. 

and Bank had started the auction process by issuing a 35-day notice on August 7, 2002. The bank then issued a 15-day notice on September 15, 2082. 

In the meantime, Sarvesh Joshi, the director of the company and the personal guarantor of the bank , had sent a letter to the bank on September 20,2002 to proceed with the auction process.On the basis of this letter, Bank started the auction process .

In the bidding process, Tansgate Tech Pvt. Ltd., Ncell Axiata Pvt. Ltd. and Professional Business Network Pvt. Ltd. had submitted bids. Tan sgate had submitted a bid for Rs 442 crore and Professional Business Network had submitted a bid for Rs 425 million.On the other hand, Ncell had submitted a tender for the purchase of all the equipment for Rs 4.60 billion. On the basis of the same tender, Bank sold Ncell to Axiata.

will also be investigated!

The CIB has arrested Joshi after it was revealed that he had been working with the intention of dishonestly violating the rights of the government. 

After the suspicion that and of {{} were also involved in the said act, CIB investigation was also directed to {{}. According to CIB sources, the investigation was initiated after it was revealed that had sold the government-owned property to .