KATHMANDU, Dec 25: The Kathmandu District Court on Wednesday ordered the release on bail of defendants accused of irregularities in leasing Nepal Trust land on the high-profile Durbar Marg land lease. The decision has raised eyebrows, as the Central Investigation Bureau (CIB) of Nepal Police had claimed losses amounting to a staggering Rs 5.25 billion, yet the court set total bail at a mere Rs 1.6 million.
Former Nepal Trust Secretary Arjun Bahadur Karki has been asked to furnish Rs 600,000 in bail, while former Joint Secretary Lekh Bahadur Karki must post Rs 1 million. The low bail in such a high-stakes case has prompted critics to question the strength of the CIB’s charges.
The corruption case, filed through the Kathmandu District Government Attorney’s Office, names former Secretary Arjun Bahadur Karki, Joint Secretary Lekh Bahadur Karki, Thamserku Trekking Chairman Lhakpa Sonam Sherpa, and Thamserku Trekking Pvt Ltd as defendants. The charge sheet seeks prison sentences of up to five years for three of the accused.
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The controversy centers on irregularities in leasing one ropani and 14 aana of prime Nepal Trust land. A proposal recommending a lease value of Rs 6.45 billion was allegedly ignored. Instead, Thamserku Trekking, in collusion with trust officials, reportedly signed an agreement for just Rs 1.59 billion—less than a quarter of the recommended amount.
In May 2017, Nepal Trust and Thamserku Trekking Pvt Ltd signed a 30-year lease agreement. The deal included Rs 1.40 billion as lease payment and Rs 192.96 million for construction costs, with a three-year construction period. Thamserku Developer Pvt Ltd has since constructed a business complex on the land and rented it out.
The CIB claims the tender process was deliberately designed to favor Thamserku. Despite initially bidding Rs 6.45 billion, the company allegedly altered documents to fix the bid at Rs 1.55 billion once assured of winning the contract. Repeated decisions during the process reportedly favored Thamserku, causing losses worth hundreds of millions to Nepal Trust.
The company is also accused of violating the lease agreement. While the deal called for a three-storey building with a basement, Thamserku allegedly built a five-storey structure, which it rents out. Nepal Trust has approached the court seeking rent from the additional floors. Thamserku is currently paying an annual land rent of Rs 45 million.
Although the Commission for the Investigation of Abuse of Authority (CIAA) had earlier decided to shelve the case, the CIB later filed charges of fraud and criminal breach of trust in Kathmandu District Court. The case is now under consideration at the Patan High Court.
The episode has reignited debate over transparency and governance in leasing public assets, exposing what critics describe as a “collusion-driven process” that allowed private companies to profit at the expense of public institutions.
