Kathmandu, April 24 -- Businessman Shekhar Golchha, former president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), was arrested on Thursday in connection with alleged offences related to the securities and insurance sectors.

His arrest comes even as the Department of Money Laundering Investigation continues a parallel inquiry into the same case.

Acting on a complaint lodged by the Securities Board of Nepal (Sebon), the Central Investigation Bureau (CIB) arrested Golchha from the office of Golchha Organisation at Narayanchaur, Naxal, on Thursday afternoon. CIB spokesperson Senior Superintendent of Police Shiva Kumar Shrestha said the bureau had obtained an arrest warrant from the Kathmandu District Court before...