Suman Sharma, the Chief Executive Officer (CEO) of Prabhu Bank, is on the police fugitive list after a court summons was requested in a criminal fraud and breach of trust case. The case, filed on September 17, 2026, at Parsa District Court, in Parsa district, relates to his tenure as CEO of the former Sunrise Bank.
According to Prabhu Bank’s approved employee bylaws, any employee against whom a state body files a criminal charge under prevailing Nepali law is considered automatically suspended. This means Sharma should have been suspended from September 18, 2026, the day after the case was filed. However, he continued to report to work until September 29, 2026, Prabhu Bank Information Officer Rabindra Dhakal confirmed.
Sharma sent an email to the bank’s human resources department on September 30, 2026, stating he was taking “force leave” and has since become incommunicado. His mobile phone is switched off, and he is now on the police fugitive list.
Allegations of fraud and criminal breach of trust
The case was filed by Anjali International at Parsa District Court. The company alleges that while Sharma was CEO of the then-Sunrise Bank, a loan of Rs 38.99 million was approved for Anjali International’s business expansion on April 18, 2023. On the same day, land in Amawa, Bara district, valued at Rs 8.9 million, was mortgaged to the bank as additional collateral.
Despite the mortgage, the approved loan amount was never disbursed to Anjali International’s account, and the company claims bank officials became unreachable. The government attorney’s office, which filed the charge sheet, alleges that accepting collateral without disbursing the approved loan constitutes a criminal breach of trust. The office has also demanded that the defendants pay Rs 8.9 million in restitution and compensation to the victim.
The charge sheet names Sharma, along with three other former Sunrise Bank employees: Deputy Manager Kedar Singh, Senior Officer Subodh Joshi, and Deputy Manager Rabindra KC, who worked in loan administration. The government attorney’s office has labeled Sharma as an “absconding defendant” and requested the court issue a summons.
Background and next steps
Suman Sharma was appointed CEO of Prabhu Bank for a four-year term, effective February 2, 2026. The allegations against him, however, stem from his previous role at Sunrise Bank. Sunrise Bank merged with Laxmi Bank to form Laxmi Sunrise Bank Limited, commencing integrated operations on July 14, 2023. Prabhu Bank itself acquired Century Commercial Bank and began integrated operations on January 10, 2023.
Parsa District Court is expected to proceed with issuing summonses for the defendants. Sharma and the other defendants are on the police fugitive list, and their current whereabouts remain unknown.
It is not yet clear if specific future court dates have been set for this case. Furthermore, Prabhu Bank’s board of directors has not yet made an official decision regarding Sharma’s suspension or dismissal in light of his absence and the criminal charges. The Nepal Rastra Bank, the central bank, has also not publicly issued any directives or taken action against Prabhu Bank or Sharma in this matter.
