Chaudhary bought Bansbari Leather Shoes Factory’s shares in Champion Footwear in Rs 3.6 mln: CIB (With video)

KATHMANDU: The Central Investigation Bureau of Nepal Police said that Arun Chaudhary bought 25 percent shares of Bansbari Leather Shoes Factory in Champion Footwear.

After Chaudhary bought the 25 percent shares of the Champion Footwear in 1995, it was taken to the private company on December 19, 1997, according to the CIB.

Earlier, it was said that Chaudhary Group will have 51 percent, Bansbari Leather Shoes Factory, and the general public will have 25 and 24 percent shares respectively in the Champion Footwear to be operated in the 10-ropani land of Bansbari Leather Shoes Factory.

Out of 18 ropani, three anna and two paisa land, the Bansbari Leather Shoes Factory gave 10-ropani land to the Champion Footwear.

The CIB claimed that the Bansbari Leather Shoes Factory has invested a total of Rs 2. 6 million at the rate of Rs 250,000 per anna and the paid-up capital of the Champion Footwear was only Rs 5 million.

Though the price of 25 percent shares is Rs 1.2 million, the Bansbari Leather Shoes Factory gave 10-ropani land equivalent to Rs 2.6 million, the CIB said.

Saying that he reached to a conclusion by conduction the investigation for a long time, SSP Dinesh Acharya of CIB said one and all not to harbour doubt on his work.