Police said they paraded the alleged mastermind of the murder of President of Federation of Contractors’ Association of Nepal Sharad Kumar Gauchan.

Acting on a tip-off, a team deployed from the Central Investigation Bureau of Nepal Police arrested Samir Man Singh Basnyat (32) from Narayanghat in Chitwan district and made public amid a press meet in the Capital today.

Basnyat was also involved in a couple of criminal cases including the murder of CPN-UML leader Durga Tiwari in Rupandehi and Dawa Lama case earlier.

According to a media reports, police also confiscated two bullets of USP Pistol that was hidden in a flower pot in his home.

Police have also arrested seven others in connection with the case.

Gauchan was shot dead in broad daylight near his home in New Baneshwar while he was heading for FCAN's office in Anamnagar on October 9.   

The Central Investigation Bureau of Nepal Police made public Samirman Singh Basnet on the charge of orchestrating Gauchan's murder. Basnet, who was arrested on Saturday in Chitwan, plotted the murder after disputes over money, according to DIG Puskar Karki.

Karki said that Singh was also involved in the murder of Durga Tiwari in Rupendehi in December 2016 and Dawa Lama in Kathmandu.

Police said the monetary dispute arose after Gauchan refused to pay back Rs 20 million that he had allegedly borrowed from notorious gangster Kumar Ghaite and Basnet. Ghaite was killed in an encounter with police last year. After Ghaite's death, Singh had insisted that he should get the entire Rs 20 million. Gauchan had also refused to pay 2 percent commission from a tender bid won by Gauchan's company to construct the postal highway.