Kathmandu, June 12 -- Prosecutors have launched a sweeping legal offensive against executives of the Shanker Group, Infinity Holdings and Himalayan Reinsurance, filing cases simultaneously in three separate courts over allegations of financial misconduct spanning the securities, insurance, banking and anti-money laundering.

The cases have been filed against Shanker Group chair Shankerlal Agrawal, vice-chairs Sulav Agrawal and Sahil Agrawal, Infinity Holdings chair Deepak Bhatta, and former Himalayan Reinsurance chairman and former president of the Federation of Nepalese Chambers of Commerce and Industry Shekhar Golchha, among others.

The District Government Attorney's Office in Kathmandu filed insurance and securities-related cases at t...