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Nepal King selling property, Govt vows to stop it

Kathmandu, June 29: With the fate of the monarchy in Nepal hanging in balance,
King Gyanendra and his family members are speeding up deals to sell their property
but the interim government today vowed to scuttle any such move.
King Gyanendra and his family members are hurrying to sell their property, worth
crores of rupees, registered in different names, highly placed sources said.
Despite the government's decision to nationalize the royal property, the palace has almost finalized deals to sell two key properties located at important places in Kathmandu, the source revealed.
The deal for selling Four Star Hotel Sherpa, belonging to King's sister Shanti Singh and currently owned by her son Binod Bahadur Singh, has been almost finalized at Rs 95 crore, a hotel staff said on condition of anonymity.

Shanti Singh was killed in the royal palace massacre of June 1, 2001, when the entire family of King Birendra was gunned down by Crown Prince Dipendra, who later committed suicide.
Communication Minister Krishna Bahadur Mahara, who is also government spokesman, said "we have information that the royal family is trying to sell their property and we are trying to stop it."
Another plot registered in the name of Kantipur Hotel situated just in front of the Hotel Sherpa, is also being finalized for Rs 85 crore and the buyer is Ali Ahmed from USA, the sources claimed.