The Rise & Fall Ledger
Every great Nepali fortune has two columns. The Ledger records both: how each name rose, what has gone wrong, and where they stand today.
The Ledger summarises public reporting and each person’s legal status as of 10 October 2026, with the source for each line and a link to our story. An arrest, investigation or charge is not a finding of guilt. We did not contact the people listed; anyone named may send a response to [email protected], and we will publish relevant replies.
| Name & house | How they rose | What has happened since | Status |
|---|---|---|---|
| Chandra Prasad DhakalIME Group / Global IME Bank | Founded IME Remit in 2001; built Nepal's largest bank from 21 mergers. Handles about half of all remittances. | Global IME Bank has grown through mergers, the largest with Bank of Kathmandu. The Rising Nepal | Rising |
| Min Bahadur GurungBhat-Bhateni Supermarket | A 1984 corner shop grown into 28 stores and Nepal's largest retailer. | Lost more than Rs 11bn when 12 stores burned on 9 September 2025; ten have been rebuilt. The Kathmandu Post | Rising |
| Akshay GolyanGolyan Group | Took the chair in December 2025; 320 MW+ of hydropower and ~10% of national exports. | The next generation of the Golyan Group, with assets in hydropower. The Kathmandu Post | Rising |
| Rajendra Kumar KhetanKhetan Group | Exited Carlsberg South Asia for $744m and redeployed into banking, insurance and Fonepay. | Bought a stake in Fonepay in September 2025 and has raised his holding in Laxmi Sunrise Bank. The Kathmandu Post | Rising |
| Anil Keshary ShahNabil Bank | Rose from a junior post at Grindlays to lead Nabil twice and Mega Bank for eight years. | Returned to Nabil Bank's board in January 2026. Banking News | Rising |
Read the stories
Prabhu Group's Devi Prakash Bhattachan: from remittances to a bank, and a fraud case still before the court
The chairman who built a money-transfer business into a commercial bank and a life insurer faces a fraud case over unpaid remittance agents, which he denies. Nearly a year after it was filed, no verdict has been reported.
GB Rai, Gorkha Media and the cooperative savings still caught up in court
A parliamentary committee said cooperative savings reached GB Rai's television company. He remains abroad, the heaviest charges were dropped in May 2026, and the cooperative fraud charges have not been tested in court.
Cosmic Air Nepal: how the first private jet airline rose and fell
Cosmic Air put the first jets on Nepal's domestic routes and flew to Delhi, Dhaka, Kolkata and Varanasi. Fare cuts, fuel debts and lease arrears grounded it within two years, and the regulator cancelled its certificate in 2010.
Janakpur Cigarette Factory: how Nepal's state cigarette monopoly fell
A Soviet-aided factory once ran Nepal's cigarette market. Private competition, losses and politics shut it in 2011. Its land is now worth more than the business, and it houses Madhesh Province's government.
Nepal Bangladesh Bank: the run, the NRB takeover and the Nabil merger
A 1994 joint venture with two Bangladeshi lenders suffered a run in November 2006, was taken over by Nepal Rastra Bank, recovered under its management and was absorbed by Nabil Bank in 2022.
Nepal's oldest industrial house and the court cases facing its chairman, Shekhar Golchha
The Golchha family's roots go back to Nepal's first factory. Its chairman, a former FNCCI president, is now a defendant in insurance and money-laundering cases linked to Himalayan Reinsurance. He denies wrongdoing and is on bail.