Sunrise Bank Patanjali Corruption Case: Ex-CEO Kishor Maharjan, 12 Others Charged by CIAA Nepal
5th June 2025, Kathmandu
The Commission for the Investigation of Abuse of Authority (CIAA) filed a corruption case against the former CEO of Sunrise Bank, Kishor Kumar Maharjan, along with 12 other bank employees. The case involves irregularities in granting land boundary exemptions and loan disbursements to Patanjali Yogpeeth and Ayurveda Company.
Sunrise Bank Patanjali Corruption Case
The case was officially registered on Thursday, Jestha 22(5th June), at the Special Court. It centers on allegations that Sunrise Bank violated rules by accepting land collateral beyond legal limits.
Background: The Merger And Involved Bank Officials
Sunrise Bank has merged with Laxmi Bank, and they now operate under the name Laxmi Sunrise Bank. At the time of the loan approval, Kishor Kumar Maharjan served as CEO of Sunrise Bank. He later became CEO of Civil Bank.
Alongside Maharjan, the CIAA charged several other bank officials. They include assistant general manager Neeta Pradhan, risk department officer Sujit Pokharel, branch manager Rajiv Sapkota, and officer Mamata Parajuli.
Other accused bank employees include junior management trainee Ashu Mainali, deputy manager Manoj Nyaupane, senior assistant Bikrant Koirala, chief manager Rabin Kumar Nepal, assistant general manager Asha Rana Adhikari, risk management head Sanjay Kumar Siddhi, compliance officer Sunil Ratna Sthapit, and deputy general manager Balram Bista.
Notably, Asha Rana Adhikari was a director at Nabil Bank before. Also, deputy manager Manoj Nyaupane is the nephew of former Prime Minister Madhav Kumar Nepal.
The Allegations: Land Boundary Exemption And Loan Disbursement
The CIAA accuses the bank officials of issuing loans to Patanjali Yogpeeth by illegally accepting land collateral beyond the government’s boundary limits. The land, registered under Patanjali’s name in Kavre district, was reportedly subject to improper mortgage deeds.
The Kavre Land Revenue Office allegedly prepared incorrect documents to facilitate the loan disbursement. These deeds included “Dristibandhak Likhat” (restricted documents), which should have prevented the bank from providing loans based on that collateral.
According to the CIAA, the Guthi Institution in Kavre wrote to the bank, objecting to the land being mortgaged beyond the allowed limits. Despite this, the bank proceeded with the loan.
The officials involved reportedly worked together to bypass regulations. The loan disbursed was worth NPR 185.8 million (about USD 1.5 million).
Broader Involvement: Former Prime Minister And Others
The case also involves former Prime Minister Madhav Kumar Nepal. The CIAA alleges that officials misused their power and made illegal decisions that caused damage to public institutions and the government.
In addition to the 13 primary accused from Sunrise Bank, the CIAA has filed cases against 93 individuals connected to the scam. These include senior management and junior staff.
Manoj Nyaupane, the deputy manager involved in the case, is related to Madhav Nepal. This relationship has added political sensitivity to the case.
Loan Status And Legal Charges
The CIAA states that the loan given by Sunrise Bank using the questionable land as collateral has been repaid. However, the repayment does not excuse the alleged corruption.
The accused have been charged under the Anti-Corruption Act of 2059, specifically under Sections 9 and 22. These sections address abuse of authority and corruption.
The Commission accuses the accused of misusing their official positions and making decisions that benefited themselves illegally.
About Laxmi Sunrise
Laxmi Sunrise Bank Limited was formed after merging Laxmi Bank and Sunrise Bank in July 2023. The merger created one of Nepal’s leading banks. Its head office is in Kathmandu. The bank operates under CEO Ajay Bikram Shah, who leads a team of experienced directors. Together, they focus on strong growth and excellent customer service.
The bank has a paid-up capital of over NPR 21.67 billion. This capital helps fund large projects and offers various financial products. Customers can choose from savings accounts, fixed deposits, and loans for personal, business, and agricultural needs. The bank also provides digital banking services like mobile and internet banking for easy access.
Additionally, Laxmi Sunrise Bank offers insurance partnerships and international banking services, including foreign currency accounts and money transfers. The bank actively supports social and environmental causes through corporate social responsibility programs. For more information, customers can visit their website or contact their customer care center.
Conclusion
This case highlights alleged corruption in Nepal’s banking and land management sectors. The involvement of a former bank CEO, senior bank officials, and political figures shows the depth of the issue.
The CIAA continues its investigation to ensure accountability and prevent similar incidents in the future. The case is now under trial at the Special Court.
For more: Sunrise Bank Patanjali Corruption Case
