Nepal

Case filed against traders on charge of foreign exchange misappropriation

KathmanduPati October 15, 2020

KATHMANDU : The Department of Revenue Investigation has filed cases against traders involved in misappropriation of foreign exchange by sending money illegally for the payment of goods imported by evading customs duty.

The Department has charged the proprietors of JSS Mobile Collection and Services Pvt Ltd and Shree Shyam Impex, Mohan Bansal and Govinda Bansal, respectively, of misappropriating foreign exchange equivalent to Rs 859 million 522 thousand.

Department’s director general Dirgha Raj Mainali said that cases have been filed against the two traders at the Kathmandu District Court on Wednesday, seeking to realise the amount misappropriated, a fine up to three times the amount and three years of imprisonment.

The Department said it found during investigation that various foreign-made goods including mobiles and memory cards had been smuggled in through JSS Mobile Collection and Services Pvt Ltd and Shyam Impex without paying the customs duty.