Apex court issues show cause notice to CIAA on BFI probe

ShareSansar, December 2:

The Supreme Court has issued a show cause notice against the Commission for the Investigation of Abuse of Authority (CIAA) for demanding all financial details of some BFIs.

This comes at a time when some privately run BFIs have been raising concern about “uncalled for” intervention by the constitutional anti-graft watchdog.

Conducting a preliminary hearing on Sunday on a writ petition filed by advocate Arjun Kumar Aryal, a single bench of justice Bharat Bahadur Karki has even summoned the representatives of the CIAA, Nepal Rastra Bank and the government to discuss the matter.

However, the show cause notice cannot stop the CIAA from continuing investigation into alleged financial irregularities in the BFIs.

The writ petition was filed, stating that the CIAA can only probe the BFIs run by the state or those institutions, where the government has shares.

The writ further states that only the central bank should be allowed to conduct such probe.

However, no BFIs have been mentioned in the writ petition.