Kathmandu. Suman Sharma, CEO of Prabhu Bank has been released on bail. Sharma, who is in police custody in connection with a case of cheating and criminal breach of trust, was released on a bail of Rs 2 lakh.

A bench of Parsa District Court Judge Devi Kumari Chaudhary had ordered Sharma to be released on bail of Rs 2 lakh. According to the same order, Sharma has been released on bail.

Just because he was released on bail does not mean that he has been proved innocent. Even if he is released on bail, the case against him continues. However, Sharma can fight the case by staying outside.

The court has also issued an order after the detention hearing on and on Tuesday.

‘From the immediately obtained evidence, including the mortgage (security) document and the letter received from the defendant } bank, the order said, “It is not possible to say that the defendant is not guilty of the offence of the accused…”, the order said.

Sharma has been accused of approving the loan when was in the then Sunrise Bank, did not give the loan but auctioned the collateral. The case has been registered against him and four others of the then Sunrise Bank on the basis of a complaint filed by Nirmala Devi, the director of Anjali International.