Kailashchandra Nuwal

Kailashchandra Nuwal draws his wealth from shares in Solar Industries, a maker of industrial explosives, founded by his brother Satyanarayana Nuwal.

Solar Industries gets the biggest chunk of its annual revenue from exports, followed by the defense sector, state-owned coal companies and the housing and infrastructure segments.

Until 2019 he was vice chairman and a director in the company but had to step down for failing to disclose his stake in a private company.

Kailashchandra approached the National Company Law Tribunal for reinstatement. The company is now contesting it in the Supreme Court where the case is still pending.

The fight between the brothers came to a head in 2023 when Kailashchandra Nuwal voted against four resolutions including altering the articles of association at the company's annual general meeting.