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KATHMANDU, JUN 09 -
Kist Bank’s board on Saturday approved the resignation of Managing Director Kamal Prasad Gyawali after he landed in controversy over his wife’s alleged involvement in banking offense.
The board also appointed deputy chief executive Bal Nar Singh Gharti as acting chief executive officer, according to the bank’s statement.
The bank said Gyawali tendered his resignation on moral grounds to facilitate police investigation after his wife Gauri Khanal was arrested on charge of banking offense. Sources said Gyawali was also facing pressure from the central bank and the board to resign. Gyawali has been associated with the institution since its establishment in 2003. The then Kist Finance was upgraded into a commercial bank in 2009.
According to the police, Gauri Khanal has been found to have used loans worth Rs 130 million taken from Siddhartha Development Bank, which was meant for Jamko Publications Private Limited.
The loan awarded to Jamko Proprietor Kishor Dhakal was defaulted, and the collateral put up was found to have less value.
Dhakal had put two land plots in Rabibhawan, Kathmandu, up as collateral. He had bought the land from Khanal for Rs 120 million. The police said as the loan was provided to Dhakal, the amount was transferred to the account of Khanal in Prime Commercial Bank. While revaluating the collateral, its value was found to be just Rs 60 million.
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