Nepali film producer Madhav Raj Wagle, who was arrested for possession of fake currency, has been released from jail after posting a bail of Rs 2.5 million.

Patan High Court on Friday ordered the release of Wagle along with Art Director Mahendra Bogai and art assistance Sudeep Ghishing, the other accused in the fake currency case.  The court sought Rs 300,000 in bail from Bogati and Rs 1 million bail from Ghishing.

Kathmandu Metropolitan Police Range (KMPR) has lodged a case under counterfeit currency against them with an estimated damage of Rs 26 million. Three of the six persons charge-sheeted by Kathmandu District Court on June 12 has been sent behind bars. Prakash Subedi, and Deepak Napit have been released after paying Rs 100,000 each for bail, while one Sajan Bhulun has been released on general date.

The incident came to light after Mahendra Bogati used the notes, supposedly printed for the shooting of Nepali movie ‘Changa Chet’, to pay his bill at a café in Gongbu Bus Park

 Kathmandu Metropolitan Police Range (KMPR) on May 16 had arrested six people, including film producer Madhav Wagle, with fake currency valued more than Rs 26 million from Kathmandu.

Police had arrested Madhav Wagle, Bikesh Napit, Sujit Tamang, Mahendra Bogati, Prakash Subedi and Sajan Tamang from different places of the Kathmandu valley and recovered 1000 denomination notes worth Rs 25.20 million from the office of Princess Movies, Wagle’s film production company.

The production company has co-produced popular Nepali movie like Loot, Loot-2, Chhadke and Resham Fillili.