Arrest warrants have been issued against top officials of Siprabi Securities Pvt. Ltd. broker no.22, including Chairman Raviraj Bhattarai, General Manager Jayant Srivastava, Managing Director Satish Kumar Shrestha, and Senior Officer Kabiraj Neupane. They are accused of not returning over NPR 33 crore to share investor Dipendra Agrawal.
Although the arrest warrants were issued on Ashar 9, 2082, all four individuals are still on the run.
What Happened?
Investor Dipendra Agrawal filed a complaint with the police stating that Siprabi Securities failed to return NPR 9.73 crore out of the total NPR 33.73 crore owed to him. He claimed the broker firm dishonestly withheld this amount, even though they had already returned around NPR 24 crore through intermediaries Dinesh Shah and Nitin Shah.
Dipendra Agrawal alleged that the firm manipulated records and twisted facts to cover up the remaining unpaid amount. Soon after filing the complaint, the officials fled to avoid arrest.
Dipendra Agrawal Arrested
While trying to recover his money, Agrawal himself was arrested from Tokha on Monday. His arrest is reportedly linked to the same case.
One of Agrawal’s associates explained that Agrawal had lent the full NPR 33.73 crore to Siprabi to help them manage settlement issues. Out of this, around NPR 24 crore was returned via the Shah brothers. The remaining NPR 9.73 crore, was never paid.
The broker company later claimed that the unpaid money was meant for Nitin Shah, not Agrawal. This prompted Agrawal to lodge a police complaint.
Counter Allegations and Arrest Twist
Agrawal’s team believes that Siprabi Securities, in an attempt to avoid returning the money, used the Shah brothers to file a counter complaint against Agrawal. Based on that, Agrawal was arrested on fraud and deception charges.
His associate stated, “Dipendra dai hasn’t done anything wrong. It’s Siprabi who committed the fraud and is now playing dirty to escape responsibility.”
