The arrest of Dr Roop Jyoti has terrorised the private sector.
The private sector – that has been hoping for growing economic activites due to two-third majority stable government – slammed the decision to arrest industrialist Dr Roop Jyoti stating that the move has not only eroded the confidence of the business community but also sent a chilling signal that the state machinery could be misused to intimidate the private sector.
The Kathmandu District Court had granted the police permission to arrest him on Tuesday. Dr Roop Jyoti – the vice chairman of Jyoti Group – has been arrested Thursday evening while he was returing from Singapore by Silk Air.
“The government move will certainly deteriorate the confidence of the business fraternity,” according to president of Nepal Chamber of Commerce (NCC) Dr Rajesh Kaji Shrestha. “Neither will it send a positive message,” he said, adding that the authority will have adopted an alternative measure instead of arresting a reputed industrialist like a criminal.
Dr Roop Jyoti is also a brother of Padma Jyoti, who is the former president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI). Jyoti Group is considered a business house that believes and acts on fair and ethical business.
The private sector organisations – FNCCI and NCC – denounced the arrest of Dr Roop Jyoti. Issuing a press note yesterday, the FNCCI said that its attention has been drawn toward the arrest of Dr Jyoti from the airport while returning home, and his condition under the detention.
Warning that such highhandedness against industrialists and businesspersons in the country can make an adverse impact on the environment for domestic and foreign investment, the private sector asked the state agencies to treat businesspeople with respect in line with the concept of rule of law.
Earlier, the court has permitted the arrest warrant against him on charge of cheating Rs 13.6 million in a land transaction case filed by Bigendra Krishna Malla. Malla, who claims he paid Rs 12.60 million for a house in Kathmandu-3 at Bansbari, said he was neither given a house nor refunded money.
The Metropolitan Police Range, Kathmandu, had arrested Dr Roop Jyoti and his daughter Suruchi on Thursday evening and remanded the duo on Friday to police custody for three days.
The private sector sees an ‘invisible hand’ in issuing arrest warrant against the family members. “With the political backing, somebody is playing foul to tarnish the dignity of established entrepreneurs,” the private sector said, adding that Dr Roop Jyoti has neither received the money nor promised to provide a house. Landmark Developers – where CE Construction and Jyoti Group owns stake – has sold the land, where the developer was supposed to construct the house. But the devastating earth quake in 2015 has delayed the construction.
As managing director of CE Construction Sambhu Phuyal had made the deal and received the installment money without receiving retaining right from Jyoti Group. Phuyal had received the money from Malla on April 6, 2016 to construct a residential building on a land plot developed by Landmark Developers Pvt Ltd. After failing to hand over the committed property on time, the money was returned to Malla on December 1, 2018 – three days before Malla filed cased at the Kathmandu District Court – which he refused to take. But since Malla did not accept the money back that he paid in installments, Dr Roop Jyoti deposited the money at the court. However, the power play made the case complicated as Malla went to power centres and used state machinery to out Dr Roop Jyoti behind the bars.
Phuyal had also admitted before the High Court that he had received the money without taking the authority from the concerned party. Malla claimed that Dr Roop Jyoti should provide him either a house – as promised by the Landmark Developers – or pay Rs 40 million.
Meanwhile, demanding his immediate release, a group of business people staged a silent demonstration at Maitighar Mandala in Kathmandu to protest against the arrest of Dr Roop Jyoti.
The private sector – that has been hoping for growing economic activites due to two-third majority stable government – slammed the decision to arrest industrialist Dr Roop Jyoti stating that the move has not only eroded the confidence of the business community but also sent a chilling signal that the state machinery could be misused to intimidate the private sector.
The Kathmandu District Court had granted the police permission to arrest him on Tuesday. Dr Roop Jyoti – the vice chairman of Jyoti Group – has been arrested Thursday evening while he was returing from Singapore by Silk Air.
“The government move will certainly deteriorate the confidence of the business fraternity,” according to president of Nepal Chamber of Commerce (NCC) Dr Rajesh Kaji Shrestha. “Neither will it send a positive message,” he said, adding that the authority will have adopted an alternative measure instead of arresting a reputed industrialist like a criminal.
Dr Roop Jyoti is also a brother of Padma Jyoti, who is the former president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI). Jyoti Group is considered a business house that believes and acts on fair and ethical business.
The private sector organisations – FNCCI and NCC – denounced the arrest of Dr Roop Jyoti. Issuing a press note yesterday, the FNCCI said that its attention has been drawn toward the arrest of Dr Jyoti from the airport while returning home, and his condition under the detention.
Warning that such highhandedness against industrialists and businesspersons in the country can make an adverse impact on the environment for domestic and foreign investment, the private sector asked the state agencies to treat businesspeople with respect in line with the concept of rule of law.
Earlier, the court has permitted the arrest warrant against him on charge of cheating Rs 13.6 million in a land transaction case filed by Bigendra Krishna Malla. Malla, who claims he paid Rs 12.60 million for a house in Kathmandu-3 at Bansbari, said he was neither given a house nor refunded money.
The Metropolitan Police Range, Kathmandu, had arrested Dr Roop Jyoti and his daughter Suruchi on Thursday evening and remanded the duo on Friday to police custody for three days.
The private sector sees an ‘invisible hand’ in issuing arrest warrant against the family members. “With the political backing, somebody is playing foul to tarnish the dignity of established entrepreneurs,” the private sector said, adding that Dr Roop Jyoti has neither received the money nor promised to provide a house. Landmark Developers – where CE Construction and Jyoti Group owns stake – has sold the land, where the developer was supposed to construct the house. But the devastating earth quake in 2015 has delayed the construction.
As managing director of CE Construction Sambhu Phuyal had made the deal and received the installment money without receiving retaining right from Jyoti Group. Phuyal had received the money from Malla on April 6, 2016 to construct a residential building on a land plot developed by Landmark Developers Pvt Ltd. After failing to hand over the committed property on time, the money was returned to Malla on December 1, 2018 – three days before Malla filed cased at the Kathmandu District Court – which he refused to take. But since Malla did not accept the money back that he paid in installments, Dr Roop Jyoti deposited the money at the court. However, the power play made the case complicated as Malla went to power centres and used state machinery to out Dr Roop Jyoti behind the bars.
Phuyal had also admitted before the High Court that he had received the money without taking the authority from the concerned party. Malla claimed that Dr Roop Jyoti should provide him either a house – as promised by the Landmark Developers – or pay Rs 40 million.
Meanwhile, demanding his immediate release, a group of business people staged a silent demonstration at Maitighar Mandala in Kathmandu to protest against the arrest of Dr Roop Jyoti.
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