The Central Bureau of Investigation (CIB) of Nepal Police has apprehended Arun Chaudhary, who is the Chairman and Managing Director of CG Holdings, Ajit Narayan Singh Thapa, who was the then head of Bansbari Leather and Shoe Factory Limited, and Sanjay Thakur on charges of usurping 10 acres of land.
The investigation reveals that the accused, in collaboration, unlawfully acquired 10 acres of land.
According to a CIB officer, Chaudhary and Thapa have been granted a 4-day detention by the Kathmandu District Court, with Judge Madhav Prasad Ghimire presiding over the decision.
The bamboo leather factory, established in 1963 with the support of the Chinese government, faced losses and subsequently sold 10 ropani of land to Champion Footwear.
In August 1986, 6 acres were sold to Champion Footwear at a price below the government valuation, and an additional 4 acres were exchanged for 2,500 shares.
Over time, share members shifted, leaving Arun and his wife Sheela as the sole members. The shoe factory ceased to exist, rebranding as CG Chandbagh Residency Pvt Ltd.
The Chaudhary Group Foundation now operates Chandbagh School on the premises.