Industrialist Roop Jyoti and his daughter Suruchi were released by the Metropolitan Police Circle, Durbarmarg on Friday after the Kathmandu District Attorney’s Office decided not to prosecute the case.

“He was released after Bikendra Krishna Malla, who earlier lodged a fraud complaint against the industrialist over a land dispute withdrew his complaint,” said Deputy Superintendent Hobindra Bogati, spokesperson for the Kathmandu Metropolitan Police Range.

Jyoti and his daughter were arrested last week for their alleged involvement in cheating Malla to the tune of Rs27.6 million.

In December last year, the police had issued an arrest warrant against Jyoti based on complaints filed by Malla. However, Jyoti had immediately filed a writ against the arrest warrant and had obtained a stay order from the court. He had then issued a statement denying any involvement or connection with the housing and real estate company that has been accused of swindling customers on its housing project.

Jyoti is Vice-Chairman of the Jyoti Group of Companies, a prominent Nepali business house. The group has investments in iron, steel, textiles and tourism, among others. Jyoti also served as assistant finance minister during the reign of former king Gyanendra Shah.