The Central Investigation Bureau of Nepal has recommended seeking Rs95 billion in damages and prosecuting 22 people over the alleged illegal auction of assets belonging to Smart Telecom Pvt Ltd, according to an investigation report submitted to the Kathmandu District Government Attorney Office on August 7.

The CIB submitted the report after completing its investigation into the auction of Smart Telecom’s assets after the company came under government ownership. The contents of the report have emerged as the government attorney office reviews the police recommendations before deciding whether to file a case in court.

Senior Superintendent of Police Anupam Shumsher JBR confirmed to Kantipur that the CIB had completed its investigation and submitted the report with its recommendations.

“We have completed the investigation and submitted the report. The government attorney is conducting further study,” JBR said.

According to sources at the government attorney office, the police have recommended seeking a recovery of Rs95 billion in damages and prosecuting 22 people as defendants.

The police have concluded that the assets were illegally auctioned through collusion between Nepal Investment Mega Bank and Ncell Axiata Limited, Axiata’s Nepal-based telecommunications company. The investigation alleges that the case involves fraud, criminal breach of trust and organised crime.

The CIB arrested Bhupendra Bhandari, former chairman of the Nepal Telecommunications Authority, on July 30 in connection with the case.

According to the government attorney office, nine of the 22 people recommended as defendants are Ncell officials, while the police have recommended prosecuting two officials of Nepal Investment Mega Bank.