The Central Investigation Bureau (CIB) of the Nepal Police has taken Sarvesh Joshi, the former Managing Director of the now-defunct Smart Telecom, into custody. The arrest took place on Monday in the Khursanitar area of Kathmandu Metropolitan City-2.
Authorities have leveled serious charges against Joshi, including fraud and criminal breach of trust. The investigation centers on allegations that he engaged in dishonest activities aimed at undermining the government's rightful ownership of the company's assets.
Smart Telecom’s operational license was officially revoked on April 16, 2023 (Baisakh 3, 2080), after the provider failed to renew its permit in accordance with the Telecommunications Act. Following the cancellation, the Nepal Telecommunications Authority (NTA) moved to secure the firm’s entire infrastructure.
Under the Asset Management Regulations of 2079, the NTA assumed control of all systems, networks, and structures belonging to the service provider. This transition effectively turned the company's holdings into state property to ensure the continuity of the telecommunications ecosystem.
According to CIB Spokesperson SP Shiva Kumar Shrestha, Joshi is accused of attempting to illegally divest or compromise these assets for personal or private gain. The bureau is currently conducting a detailed probe into the extent of the financial irregularities.
This legal action signals a strict stance by the government against corporate executives who attempt to manipulate state-controlled assets following the dissolution of private entities.
