Luxury Cars and Documents Seized in Raid on Bhatt and Agrawal’s Properties

Kathmandu. The Department of Money Laundering Investigation (DMLI) conducted raids on the residences and offices of controversial businessman Deepak Bhatt and his business partner Sulab Agrawal on Tuesday morning. With the assistance of the police and local authorities, the Department team took this step to investigate their assets and business transactions.

The Department team raided and sealed Bhatt's residence at Kiran Bhawan and his office in Sanepa, Lalitpur. Following a long-term investigation, the Department seized approximately 10 luxury vehicles from Bhatt's residence to conclude the process. The impounded vehicles include brands such as Range Rover, Toyota Land Cruiser, BMW, Tesla, Proton, and BYD. Additionally, the Department stated that mobile phones, computers, important documents, and CCTV servers were also confiscated from the site.

The Department also raided Himalayan Re-Insurance Company, where Bhatt and Agrawal are partners. Digital materials and documents necessary for the investigation were taken from there. Similarly, laptops and CCTV footage were recovered from offices related to Agrawal, while sources stated that the home of Upendra Hirawat, said to be Bhatt's financial manager, was also searched.

The Department has expressed serious suspicion regarding the asset management of Agrawal and Bhatt. According to a high-ranking official of the Department, the investigation is focused on the suspicion that financial resources within Nepal may have been mobilized in Agrawal's name, while resources abroad (Singapore, Hong Kong, Dubai, etc.) may have been mobilized in Bhatt's name. The Department mentioned that further facts will be revealed after the analysis of the confiscated materials.

Bhatt and Agrawal have been in police custody for the past two weeks. They are being investigated on matters related to money laundering, insurance, and banking offenses. The Kathmandu District Court has already granted permission to keep Bhatt in custody for 20 days over two instances, and permission has also been obtained to keep Agrawal in custody for further investigation.