The Supreme Court has ordered that industrialist Shekhar Golchha be released on bail or guarantee, stating that he can be kept in custody only if he fails to furnish the required amount.

A division bench of Justices Mahesh Sharma Paudel and Shreekanta Paudel issued the directive while hearing a habeas corpus petition filed by Golchha’s wife, Sima Golchha.

The bench ruled that investigators had sought permission to detain Golchha despite the legal provision allowing release on bail or guarantee, and annulled the process followed to secure his remand.

Golchha was arrested on April 24 by the Central Investigation Bureau of Nepal Police for further investigation based on a report by the Securities Board of Nepal.

The court said authorities must now first seek bail or a guarantee in line with the law.

He will be released if he complies, and detained only if he fails to do so.