The Axiata Group had filed a case at the International Centre for Settlement of Investment Disputes in May 2019, claiming damages worth around Rs66 billion.

Provisions allow even police to investigate cases, but experts say implementation will be the key to avoiding getting blacklisted.

A damning report by the Centre for Investigative Journalism-Nepal (CIJ-Nepal), released on Wednesday, said around two-thirds of the foreign direct investment was coming into Nepal from tax haven countries and that around 55 Nepalis and non-Nepali residents had invested in offshore companies, setting off alarm bells in the country.