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Investigation unveils fraudulent buying, selling of telecom giant Ncell s stake in Nepal ANI | Updated: Jan 07, 2021 15:34 IST
Kathmandu [Nepal], January 7 (ANI): Investigation by Centre for Investigative Journalism-Nepal revealed that a British journalism organisation Finance Uncovered has found that a handful of Nepali investors have made fortunes by transacting shares of mobile service provider Ncell.
The joint investigation report made public on Tuesday has a detailed account about use of funds that appear to have flowed covertly to them via tax havens from the Malaysian telecom giant, Axiata and Sweden s Telia. The primary Nepali beneficiaries from these deals appear to be leading businessman Upendra Mahato, his associate Niraj Govinda Shrestha, and businesswoman Bhavana Singh Shrestha along with her company Sunivera Capital Venture, the report released on Tuesday afternoon stated.