Shareholding does not Imply Partnership with Other Investors: HM Gurung

Home Minister Sudhan Gurung on Monday, April 20, said he was ready to cooperate with any investigation following media reports questioning his alleged business links with Deepak Bhatta, Chairman of Infinity Holdings, who is currently in police custody in connection with a money laundering probe.

Taking to Facebook, Gurung dismissed the allegations and said he would “fully comply with any decision taken by the party” while extending all necessary cooperation to investigators.

Reports published by diyopost.com and janaastha.com on Sunday claimed that Gurung had a business association with Bhatta, citing documents showing his investment in Star Micro Insurance Company Limited. The reports further alleged that the company obtained its licence from the Nepal Insurance Authority under Bhatta’s influence.

Gurung rejected claims that he had concealed shares worth Rs 2.5 million. He said his asset disclosures clearly list investments exceeding Rs 20 million in publicly traded shares, which are available on the website of the Office of the Prime Minister and Council of Ministers.

“Investments in Star Micro Insurance and Liberty Micro Life Insurance are included within this total. This is not concealment but a matter of classification,” the post read.

Questioning the allegations, Gurung said it was illogical to suggest that someone who had publicly disclosed assets worth over Rs 20 million would attempt to hide a smaller investment. “Since when did investing in shares become a crime? All transactions were conducted through banking channels, making every rupee traceable,” he said.

On the source of funds, he said the investments were made through loans backed by formal agreements. He also dismissed claims of a direct business partnership with Bhatta, arguing that shareholding in a company does not equate to partnership with other investors.

“Companies can have hundreds or thousands of shareholders. If investing in the same company made everyone partners, then all investors would be equally responsible, which is not justified,” he said.

Addressing concerns over a potential conflict of interest, Gurung noted that the investigation is being carried out by the Department of Money Laundering Investigation under the Ministry of Finance, not the Home Ministry.

“If I had interfered, such an investigation would not have progressed,” he said. “This shows the process is ongoing and not influenced.”