Kathmandu – Controversial businessman Deepak Bhatta has been placed on the immigration department’s blacklist as investigations into alleged asset laundering against him intensify.

According to the letter from the Asset Laundering Investigation Department, Bhatta was blacklisted on Monday. Officials stated that the decision was taken due to concerns that he might attempt to flee. From now on, Bhatt must obtain government approval before traveling abroad.

Being on the immigration blacklist automatically bars Bhatta from leaving the country without prior permission from the relevant authorities or the Government of Nepal.

Bhatt is the head of Infinity Holdings. He has faced allegations of using close connections with political leaders and public officials to influence public procurement, hydropower projects, licenses of banks and insurance companies, and tax policies.

Bhatt has been under investigation by the Asset Laundering Investigation Department since Mangsir 2079. During this period, an initial statement was recorded in Poush 2079, but there were accusations that the investigation was suppressed at that time. Following recent political changes, the case has been reactivated, sources said.

The Financial Information Unit (FIU) of Nepal Rastra Bank had already submitted details of suspicious financial transactions involving Bhatt in 2079. The information indicated irregular transactions worth billions of rupees in his accounts, prompting the need for further investigation.

Bhatt and his company, Infinity Holdings, have also been accused of involvement in controversial activities, including influencing arms procurement for security agencies, hydropower projects, tax exemptions, and financial policies.