The Central Investigation Bureau (CIB) of Nepal Police has launched an investigation against 56 individuals under the Securities Act, 2063. As part of the investigation, the bureau has written to the Securities Board of Nepal (SEBON) requesting the suspension of their share trading activities and the submission of detailed transaction records.

According to sources, the investigation is linked to a case involving Deepak Bhatt and others as defendants. The CIB is examining the share trading activities of directors, chief executive officers, and investment committee members associated with several insurance and financial companies.

The investigation includes officials connected to Himalayan Reinsurance, Nepal Micro Insurance, Himalayan Security Banker, Himalayan Capserv Ltd., Crest Micro Insurance, Guardian Micro Life Insurance, Protective Micro Insurance, Liberty Micro Life Insurance, and Himalayan Life Insurance.

The bureau stated that the investigation involves allegations of misuse of public company funds for personal gain, fraudulent share transactions, and share price manipulation.

Deepak Bhatt and Sulabh Agrawal are currently in custody in connection with the case. According to investigators, some directors and senior officials of the concerned companies are suspected of facilitating unauthorized use of company funds for share trading activities.

The CIB said further investigation is underway based on financial records, transaction details, and other supporting documents.