Kathmandu, April 23 -- Industrialist Shekhar Golchha was arrested in Kathmandu on Thursday in connection with an alleged share trading scheme under investigation.

Chief of the Central Investigation Bureau, Manoj KC, said Golchha was detained from the Naxal area after a warrant was issued by the Kathmandu District Court. He was taken into custody for investigation, the bureau said.

Golchha is the chairman of the Golchha Group and a former president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), serving from 2020 to 2023.

His arrest follows an investigation and supervision report prepared by the Securities Board of Nepal into alleged collusion in share trading involving controversial businessmen Deepak Bhatta an...