India, May 15 -- Supreme Court (SC) has ordered the release of Nepal Investment Mega Bank Limited (NIMB) Chief Executive Officer Jyoti Pandey on a personal recognizance bond while allowing the investigation against him to proceed.

A division bench of Justices Saranga Subedi and Shanti Singh Thapa directed authorities to release Pandey in the presence of a senior advocate.

The apex court also ordered that Pandey must obtain prior permission before leaving the country if foreign travel becomes necessary.

Issuing a habeas corpus order, the bench ruled that there were insufficient grounds at this stage to keep Pandey in custody for investigative purposes.

Earlier, Pandey's wife Niru Dahal had filed a habeas corpus petition at the Supreme...