Shanker Group Chair released
Agrawal had been taken into custody on Friday as part of the ongoing probe.
KATHMANDU: Shankar Agrawal, chairman of the prominent Shanker Group, has been released by the Commission for the Investigation of Abuse of Authority (CIAA) following a money laundering investigation.
CIAA Director General Gajendra Kumar Thakur confirmed that Agrawal was freed after completing the statement-taking process. “He was released once his statement procedures were completed,” he said.
Agrawal had been taken into custody on Friday as part of the ongoing probe.
During his detention, the commission recorded his statement.
Shanker Group is one of Nepal’s leading business conglomerates, with its flagship company Jagdamba Steel. The group has diversified investments across steel, cement, hydropower, and consumer goods sectors.
In the same case, director Sulabh Agrawal was also arrested, with authorities continuing further investigations.
