Business
This Is Nepal’s Only Billionaire, His Noodles Brand Is A Sleeper Hit In India
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According to Forbes, his 2023 wealth is $1.8 billion. While smaller than Elon Musk or Mukesh Ambani, it’s a remarkable feat for a small country like Nepal
His business acumen led him to partner with global brands like Suzuki and Panasonic. (News18 Hindi)
In the heart of the Himalayas, Nepal’s only billionaire, has built a fortune of $1.8 billion (around Rs 15,000 crore), showcasing a remarkable journey of entrepreneurship.
At 69, Binod Chaudhary, chairman of Chaudhary Group (CG Corp Global), has built a formidable empire of 136 companies, from ‘Wai Wai’ noodles to Taj Hotels, spanning sectors like banking, hotels, FMCG, energy, education, and health.
Born into a Marwari family in Kathmandu, Chaudhary’s roots trace back to Rajasthan, India. His grandfather migrated to Nepal and laid the foundation of their business legacy. His father then opened Nepal’s first departmental store, a significant achievement at the time.
Although Chaudhary was expected to take over the family business, he initially aspired to become a chartered accountant and began his studies in India. However, he had to return home at the age of 18 due to his father’s illness, leaving his academic pursuits behind and entering the business world.
From Disco To ‘Wai Wai’
Chaudhary’s journey into entrepreneurship began with opening Nepal‘s most famous disco in Kathmandu in 1973, which quickly became a youth hotspot.
In 1984, Chaudhary launched ‘Wai Wai’ noodles, now a staple in kitchens across India and Nepal, especially loved by children and adults in North and Northeast India
His business acumen led him to partner with global brands like Suzuki and Panasonic, further bolstering his ventures.
Nabil Bank To Taj Hotels
In 1995, Binod Chaudhary made a strategic move by acquiring a controlling stake in Nabil Bank from the Dubai government, which has since become Nepal’s leading bank. His most successful endeavour, however, lies in the hospitality sector. Chaudhary Group boasts 143 hotels, including several 5-star establishments in collaboration with India’s renowned Taj Hotels, spread across Nepal, India, and Sri Lanka, epitomising luxury.
Empire Of 136 Companies
Chaudhary Group’s influence extends far beyond noodles and hotels. It encompasses sectors such as banking, real estate, telecom, energy, education, and health, with projects ranging from power initiatives in Nepal to electronics in India.
According to Forbes, Binod Chaudhary’s wealth in 2023 was $1.8 billion. Although this is modest compared to giants like Elon Musk ($247 billion) or Mukesh Ambani ($107.1 billion), it is a significant achievement for a small country like Nepal.
Bollywood Dreams, Tata-Mandela Inspiration
Chaudhary is an ardent fan of Bollywood, particularly of Amitabh Bachchan’s films. He draws inspiration from JRD Tata, who revolutionised Indian business, and Nelson Mandela, who demonstrated the power of change. Besides being a successful businessman, Chaudhary serves as a Member of Parliament in Nepal, adding another dimension to his illustrious career.
Sons Take The Helm
At 69, Binod Chaudhary has entrusted the future of Chaudhary Group to his three sons, Nirvan, Rahul, and Varun, who are poised to elevate the business further, ensuring the continued success of ‘Wai Wai’ and Taj Hotels.
September 09, 2025, 19:24 IST
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Budget eases PF, ESI deduction rules for employers, allows relief for delayed deposits – The Times of India
In a move expected to bring relief to employers and reduce routine tax disallowances, the finance bill has proposed a key change to the treatment of employees’ provident fund (PF), ESI and similar contributions, allowing deductions even where there is a delay in deposit, provided the amount is deposited by the employer entity with the relevant welfare fund authorities before the due date of its Income-tax return.At present, employers can claim deduction for employees’ PF and ESI contributions only if the amounts are deposited within the strict timelines prescribed under the respective welfare laws. Even a minor delay permanently disqualifies the expense for tax purposes, a position that had been settled by the Supreme Court (SC) after years of litigationUnder the proposed amendment to Section 29 of the Income-tax Act, 2025, the definition of “due date” for claiming deduction of employees’ contributions is set to be aligned with the due date for filing the income-tax return by the employer entity.Explaining the shift, Deepak Joshi, a SC advocate said employers are currently held to a rigid standard. “The law, as interpreted by the SC, meant that if employee contributions were not deposited within the due date under the relevant welfare fund laws, no deduction was allowed — even if the payment was made before filing the income-tax return,” he said.“The proposed amendment substitutes the definition of ‘due date’ to mean the due date of filing the income-tax return. The positive impact is that even if there is a slight delay in depositing employees’ contributions, so long as the amount is deposited before the return-filing deadline, the employer will be allowed the deduction,” Joshi added. Experts view the move as part of the government’s broader effort to soften compliance rigidities and reduce avoidable litigation.
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Budget eases PF, ESI deduction rules for employers, allows relief for delayed deposits – The Times of India
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