Kumari Bank CEO Upadhyay arrested; police reluctant to disclose details

ShareSansar, February 26:

Nepal Police has arrested Kumari Bank’s CEO Uday Krishna Upadhyay from Rajdhani Hotel on Tuesday. The police have not yet disclosed the reason for the arrest.  The District Administration Office has allowed the police to keep Upadhyay in judicial custody for five more days, as per reports.

The fact that the police sought an extension on the CEO’s detention using his fake name, and that bankers’ association officials are unaware about the matter, has added to the mystery around the whole issue. Meanwhile, a senior police official said no one with the name Uday Krishna Upadhyay has been arrested.

It is believed that the police detained Upadhyay under the Public Offense Act.

According to a source, the CEO has informed the bank that he will be freed from the custody very soon. CEO Upadhyay was on leave from Falgun 3 on a yearly 15-day holiday, said Kumari Bank.