Arrested Arun Chaudhary Following Extensive Three-Month Investigation: CIB

The Central Investigation Bureau (CIB) of Nepal Police has announced the apprehension of businessman Arun Chaudhary and former executive director of Bansbari Leather and Shoes Factory, Anit Narayan Thapa, along with another individual, following a thorough three-month investigation into a land dispute at Bansbari Leather and Shoes Factory.

The arrest, made on Thursday, has raised concerns within the industrial community, with the Confederation of Nepali Industries (CNI) expressing worry over the potential discouragement of industrialists. However, CIB addressed the arrest during a press conference on Friday, asserting that the action was the outcome of a meticulous investigation.

According to CIB, Arun Chaudhary and Anit Narayan Thapa had signed a management agreement for the operation of Champion Footwear, established on August 26, 1986. The agreement outlined a distribution of shares, with 51% for Arun Chaudhary’s group, 25% for Bansbari, and 24% for the public. Allegedly, the agreement was later discarded with the purported intention of unlawfully capturing the land.

The Champion Footwear company was promptly closed after the acquisition of the land from Bansbari, raising suspicions of foul play. CIB emphasized that the arrest was not arbitrary and was the result of a comprehensive examination of the facts, highlighting the alleged discrepancies in the management agreement.