CIB Arrests Former Smart Telecom Chairman Sarbesh Joshi Over Fraud Charges

Kathmandu. The Central Investigation Bureau (CIB) of Nepal Police has arrested Sarbesh Joshi, former chairman of Smart Telecom, on charges of fraud and criminal breach of trust.

Joshi was arrested on Monday in Khursanitar, Kathmandu, in connection with alleged irregularities involving the management and disposal of Smart Telecom’s assets and government liabilities.

According to officials, property and equipment of Smart Telecom, which automatically came under the control of the Nepal Telecommunications Authority (NTA) following the cancellation of its license, were illegally sold to Ncell. The company is also reported to have at least Rs 700 million in government revenue, excluding license fees. 

Authorities said the company’s assets were auctioned by Nepal Investment Mega Bank in June last year. Records indicate that Joshi himself had requested the bank in writing on 5 September 2025 to approve the auction of company property.

The CIB stated that Joshi is being investigated on charges of fraud and criminal breach of trust for allegedly acting dishonestly with the intent to deprive the Government of Nepal of its property.  

Smart Telecom was granted a license by the Nepal Telecommunications Authority on 15 April 2013 to operate basic telecommunication services. However, the license was automatically canceled on 16 April 2023 after the company failed to renew it in accordance with regulatory requirements.

Following the cancellation, the NTA took control of all company assets, including telecommunications infrastructure, systems, and networks, under the Telecommunication Service Provider Property Management Regulation, 2079.

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