Prabhu Bank CEO Suman Sharma released on Rs 200,000 bail, court says 'cannot be declared innocent yet'
Prabhu Bank's Chief Executive Officer (CEO) Suman Sharma has been released on Rs 200,000 bail in a fraud and criminal breach of trust case. The Parsa District Court ordered his release on bail, but the case will continue. The court noted that based on currently available evidence, he cannot be declared innocent at this stage.
Suman Sharma, Chief Executive Officer (CEO) of Prabhu Bank, has been released after posting Rs 200,000 in bail in a fraud and criminal breach of trust case. The bench of Judge Devi Kumari Chaudhary at Parsa District Court had ordered his release on the same amount of bail. Sharma was released from police custody in accordance with that order.
Being released on bail does not mean he has been proven innocent. The case against him will continue even after his release on bail. However, Sharma will be allowed to fight the case while remaining outside custody.
The order issued by the court after the detention hearing on Tuesday also states that it cannot be said that Sharma is not guilty. The order reads:
'From the immediately available evidence, including the deed of individual mortgage (security) for institutional loan and the letter received from the opposing bank, the situation does not appear such that these defendants can be said to be not guilty of the alleged offense at this time…'
Thus, the court has indicated that based on currently available evidence, Sharma cannot be declared innocent at this point. Further proceedings in the case will continue in court.