A political and corporate maneuver appears to be underway to release Ashok Sherchan from police custody and reinstate him as CEO of Prabhu Bank. Sherchan, along with Deputy CEO Maniram Pokhrel and other senior officials, are currently under investigation by the Central Investigation Bureau (CIB) and remain in custody.
The court recently allowed the police to hold them for an additional five days, meaning their detention could last until Thursday. Meanwhile, sources suggest efforts are being made behind the scenes to secure their early release and return to leadership positions.
Reports indicate that some members of the bank’s board, including chairman Kishorjung Karki, and Acting CEO Niraj Lamsal are advocating for Sherchan’s return, arguing that he could resume leadership once released, following patterns seen in previous banking investigations.
Legally, however, anyone facing criminal charges remains suspended from their position until cleared or formally released. The bank’s official website still lists Sherchan and Pokhrel as CEO and Deputy CEO, even though Lamsal is managing daily operations in an acting capacity.
While insiders suggest there is ongoing coordination to bring Sherchan back, the board officially denies any discussion about reinstating former leadership at this stage, emphasizing that the priority is to ensure smooth daily operations.
