Former FNCCI Chief Shekhar Golchha Arrested Amid Stock Trading Scandal

Shekhar Golchha, a prominent businessman and former president of Nepal's Federation of Nepalese Chamber of Commerce and Industries (FNCCI), was apprehended on Thursday by the Central Investigation Bureau (CIB) for his alleged involvement in irregular stock trading activities.

Golchha's detention comes shortly after Nepal's Home Minister Sudan Gurung resigned amidst accusations of financial misconduct related to his business associations, including ties with business figure Deepak Bhatta.

The CIB's investigation accuses Golchha of participating in illegal share trading practices, including price manipulation, which purportedly involved use of funds from public companies. Golchha, chairman of the Golchha Group and Himalayan Reinsurance, denies benefiting from these transactions.