Durga Prasai: Arrest, Controversies & Financial Scrutiny [Update]

Is Durga Prasai, the medical entrepreneur and political figure, a beacon of financial acumen or a symbol of controversy? His trajectory, marked by both significant achievements and considerable legal and ethical challenges, demands a closer look.

Durga Prasai's name has become synonymous with both innovation and notoriety in Nepal. Known for his involvement in the medical sector, particularly as the founder of B&C Medical College in Jhapa, Prasai has also ventured into political activism, advocating for causes that often challenge the status quo. However, his career is equally shadowed by a series of controversies, ranging from accusations of spreading misinformation to facing legal battles over financial improprieties. His story encapsulates the complex interplay between entrepreneurship, politics, and public perception, making him a figure of considerable interest and debate.

In November 2024, Prasai found himself in legal trouble when he was arrested for allegedly disseminating false information on social media. The accusation stemmed from claims he made against Prime Minister KP Sharma Oli, alleging the deposit of money in Cambodian banks. This led to a case being filed against him under the Electronic Transactions Act, which could result in a sentence of up to 7.5 years if he is found guilty. The arrest and subsequent legal proceedings highlight the risks associated with online activism and the potential consequences of spreading unverified information.

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Beyond the specific case involving the Prime Minister, Prasai has faced numerous controversies that have significantly impacted his public image. In 2018, his derogatory comments about Nepalese medical students studying in Bangladesh caused widespread outrage. He labeled them as "illiterate" and "unqualified," sparking strong reactions from students, educators, and the general public. Such statements not only damaged his reputation but also raised questions about his judgment and ethical standards.

The controversies surrounding Prasai extend beyond verbal gaffes. On March 18, 2024, two of his personal assistants, Deepak Khadka and Raj Kumar Dhital, were apprehended on the grounds of the Supreme Court. The arrest was particularly alarming due to the fact that they were armed with a semiautomatic rifle and one hundred rounds of ammunition. This incident raised serious concerns about Prasai's security arrangements and the potential for violence associated with his activities. The presence of firearms in such a sensitive location prompted immediate investigations and heightened scrutiny of Prasai's inner circle.

Adding to his list of challenges, Prasai, who has been vocal in urging the public not to repay loans, is himself facing scrutiny for failing to repay bank loans exceeding Rs 7 billion. This revelation has been met with considerable irony and criticism, as it appears to contradict his public stance on financial responsibility. The High Court in Biratnagar has further complicated matters by dismissing a writ petition filed by Prasai against the banks, thus clearing the path for loan recovery through the auction of his collateral. This legal setback underscores the severity of his financial troubles and the potential for significant losses.

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The details of Prasai's loan arrangements reveal the scale of his financial dealings. He reportedly borrowed over Rs 2 billion from four different banks to finance the operations of the Purbanchal Cancer Hospital. The largest amounts came from Global IME Bank (NPR 1.31 billion), Prabhu Bank (NPR 1.18 billion), Kumari Bank (NPR 1.15 billion), and NIBL (NPR 1.02 billion). These substantial debts highlight the financial risks associated with large-scale healthcare ventures and the potential for defaults when projects do not perform as expected.

In addition to his individual financial woes, the Central Investigation Bureau (CIB) of Nepal Police has launched an extensive investigation into 25 firms associated with Durga Prasai. The investigation centers on allegations of misusing over Rs 7.25 billion in loans. This probe represents a significant escalation in the scrutiny of Prasai's financial activities and could lead to further legal action if evidence of wrongdoing is uncovered. The involvement of the CIB underscores the seriousness of the allegations and the potential for far-reaching consequences.

Despite the controversies and financial challenges, corporate shareholding data filed for March 31, 2025, indicates that individuals matching the name Naga Kanaka Durga Prasad Chalavadi publicly hold two stocks with a net worth of over Rs 618.3 crore. These shares, as per the data filed with the exchanges, represent a significant portion of his assets and highlight the complexities of assessing his overall financial standing. The discrepancy between his reported debts and apparent wealth raises questions about the true extent of his financial empire.

Prasai's founding of B&C Medical College in Jhapa was intended to improve healthcare access, but it soon became embroiled in financial controversies. The college faced significant difficulties in repaying its debts, ultimately defaulting on NPR 5.57 billion in bank loans. This failure not only affected the college's operations but also contributed to Prasai's overall financial struggles. The situation at B&C Medical College illustrates the challenges of balancing entrepreneurial ambitions with financial realities in the healthcare sector.

The legal troubles facing Durga Prasai extend beyond loan defaults and misinformation allegations. He has been implicated in multiple legal cases, including cybercrime charges, extortion investigations, and a money laundering probe related to suspicious activities. These investigations paint a picture of a man deeply entangled in legal complexities, with potential ramifications for his business ventures and personal freedom. The breadth and severity of these allegations underscore the gravity of the challenges he faces.

Adding to the ongoing saga, the Central Investigation Bureau (CIB) of Nepal Police arrested Durga Prasai from his residence in Bhaktapur on Tuesday. CIB spokesperson Superintendent of Police Hobindra Bogati confirmed that Prasai was arrested on cybercrime charges. This arrest further intensifies the legal pressure on Prasai and raises questions about the future of his business and political activities.

While Durga Prasad Prasai's financial activities and legal battles continue to unfold, it is also important to note that another individual, Durga Prasad Yadav, is a prominent figure in Indian politics. Durga Prasad Yadav has been a Member of the Legislative Assembly (MLA) since 1985. He represented the Azamgarh constituency and is a member of the Samajwadi Party. According to available analyses, his net worth is estimated at $5 million. While this information pertains to a different individual with a similar name, it highlights the importance of distinguishing between public figures with similar names to avoid confusion.

Recent legal developments have further complicated Prasai's situation. On September 25, the Kathmandu District Court extended Prasais custody by five days. Subsequently, on October 1, the court ordered Prasai's release after posting a bail bond of Rs 50,000 in each of two separate cases. These legal proceedings indicate the ongoing nature of the investigations and the judicial scrutiny he is facing. The requirement to post bail suggests that the court views the allegations against him as sufficiently serious to warrant such measures.

As of September 30, 2024, corporate shareholding data indicates that individuals matching the name Nagakanaka Durga Prasad Chalavadi publicly hold one stock with a net worth of over Rs 411.3 crore. These shares, according to data filed with the exchanges, represent a significant portion of his financial assets. This information, while potentially fluctuating due to market conditions, provides a snapshot of his financial holdings at a specific point in time.

Beyond his financial and legal troubles, Prasai has been known to make disparaging remarks against various groups, including students studying medicine in Bangladesh. He has also levied serious allegations against leaders from numerous political parties. These actions have earned him considerable criticism and have contributed to his controversial public image. Such statements and accusations often amplify the scrutiny he faces and fuel ongoing debates about his conduct and motivations.

In summary, Durga Prasai's journey is a complex tapestry of entrepreneurial endeavors, political activism, financial dealings, and legal challenges. His story serves as a reminder of the multifaceted nature of success and the potential pitfalls that can accompany ambition and public life. As investigations continue and legal proceedings unfold, the future remains uncertain for this controversial figure in Nepali society.