Entrepreneur Arun Chaudhari has been arrested in a case of  Bansbari Leather Shoes factory’s land embezzlement

Kathmandu : the secret of Arun Choudhary’s purchase of the government shares of Bansbari Leather Shoes was revealed, Champion Footwear was fraudulently converted into Chandbagh School. CIB also said that Arun Chaudhary was arrested on the basis of embezzlement of land in Bansbari shoes factory.

On Friday February 2, the CIB held a press conference and informed that after a long investigation, Chaudhary and others involved in the embezzlement of the land of the leather shoe factory in Bansbari. Senior Superintendent of Police (SSP) Dinesh Acharya informed that on 11 July 1996, there is evidence that 25 percent of the shares of Champion Footwear came in the name of Arun Chaudhary.

He said that after 25 percent of the shares of Champion Footwear came in the name of Arun Chaudhary’s Champion Footwear Limited was converted into a private company on 4 January 1998. According to SSP Acharya, CIB has found proof that Arun Kumar Chaudhary bought the shares to be auctioned for 36 lakh rupees, even though the Office of the Controller General of Accounts was told to auction 25 percent shares based on the proposal to buy 25 percent government shares of Champion Footwear during the privatization of Bansbari leather shoe factory.

It is said that after Chaudhary registered Champion Footwear Limited as Champion Footwear Private Limited on 19 December 1997A.D. (4 Paush 2054), the land under the control of the then government land went person.The investigation also revealed that the name of Champion Footwear Pvt. Ltd was changed to CG Chandbagh Residency Pvt Ltd.

According to CIB, although it was initially said that 51 percent of Chaudhary Group, 25 percent of Bansbari shoes Leather Factory and 24 percent of the shares of the general public will be held in Champion Footwear, which is to be operated on 10 Ropani land given by Bansbari Leather Shoes Factory.It has been revealed from the investigation that 24 percent of the shares that were supposed to be issued for the general public have not been issued anywhere.

SSP Acharya said that out of the 18 Ropani 3 annas 2 paisa land owned by Bansbari leather industry, 10 Ropani land has been invested by Champion Footwear at the rate of 250,000 per Ropani. He claimed that the paid-up capital of Champion Footwear was only 5 million.

The CIB has informed that out of the 18 government plots of land in the leather shoe factory located in Bansbari, 10 plots have been embezzled.