{"id":303141,"date":"2026-06-12T12:08:08","date_gmt":"2026-06-12T06:23:08","guid":{"rendered":"https:\/\/insurancekhabar.com\/?p=303141"},"modified":"2026-06-12T12:10:04","modified_gmt":"2026-06-12T06:25:04","slug":"who-are-the-insurance-companies-at-risk-of-being-suspended-for-the-offence-under-the-securities-act-2","status":"publish","type":"post","link":"https:\/\/english.insurancekhabar.com\/who-are-the-insurance-companies-at-risk-of-being-suspended-for-the-offence-under-the-securities-act-2\/","title":{"rendered":"Who are the insurance companies at risk of being suspended for the offence under the Securities Act?"},"content":{"rendered":"

Kathmandu. They are likely to be suspended at any time after the District Government Attorney’s Office filed a case against the office bearers and employees of the insurance company demanding legal action as per the Securities Act, 2063. <\/p>\n

If the Securities Board of Nepal (SEBON) writes to the insurance regulator Nepal Insurance Authority (NIA) to suspend those who have been charged, all those associated with the insurance company will be suspended. Of the 81 accused filed under the Securities Act, 2079, more than half of them have been suspended after separate cases were filed at the Kathmandu District Court under the Insurance Act, 2079. <\/p>\n

Section 104 of the Securities Act states that if there is a reasonable reason to destroy or destroy the evidence against a person while in office, or to obstruct the investigation of the case, the Board may write to the concerned institution to suspend such a person. <\/p>\n

\"\u0927\u093f\u0924\u094b\u092a\u0924\u094d\u0930
Securities Board Act of 2063 Section 104<\/figcaption><\/figure>\n

The incumbent and former office bearers and directors of the insurance company who have filed a charge sheet demanding fine and compensation as per the claim of irregularities in share trading: <\/p>\n

Himalayan Reinsurance Affiliates<\/strong><\/span><\/p>\n

1. Upasana Poudel: Chief Executive Officer (suspended)<\/p>\n

2. Manish Kumar: Investment Committee Member<\/p>\n

3. Rajiv Mor: Then Director<\/p>\n

4. Shubha Kharel: The then Director<\/p>\n

5. Subhas Kumar Jhunjhunwala: Then Director<\/p>\n

6. Amit Mor: Then Director<\/p>\n

7. Shekhar Golchha: The then director<\/p>\n

8. Rohit Gupta: The then Director<\/p>\n

9. Shahil Agrawal: Then Investment Committee Coordinator<\/p>\n

10. Sulabh Agrawal: Then Director<\/p>\n

Himalayan Life Insurance Affiliates<\/strong><\/span><\/p>\n

}<\/p>\n

1. Vivek Kumar Shah: Then Director<\/p>\n

2. Laxman Gyawali: Then Director<\/p>\n

3. Rajiv Prasad Pyakurel: Then Director<\/p>\n

4. Ashish Dhakal: Director<\/p>\n

5. Saurabh Dugar: Director<\/p>\n

6. Sachin Acharya: Director<\/p>\n

7. Pramila KC: Director<\/p>\n

8. Digambar Jha: Then Director<\/p>\n

9. Kapil Kumar Dahal: Chief Executive Officer ((suspended)<\/p>\n

Guardian Micro Life affiliates<\/strong><\/span><\/p>\n

}<\/p>\n

1. Dr. Jayaprakash Jaiswal: Director<\/p>\n

2. Uday Narayan Bhattarai: Director<\/p>\n

3. Pramod Prasad Bhattarai: Director<\/p>\n

4. Jyoti Aggarwal: Director<\/p>\n

5. Navaraj Mudbhari: Director<\/p>\n

6. Chirayu Bhandari: Chief Executive Officer (suspended)<\/p>\n

7. Jyoti Prakash Pandey: Investment Committee Member <\/p>\n

8. Sameer Kharel: Investment Committee Member <\/p>\n

9. Udip Shrestha: President<\/p>\n

10. Trishila Jhunjhunwala: Operator<\/p>\n

Protective Micro Insurance Affiliates<\/strong><\/span><\/p>\n

}<\/p>\n

1. Dinesh Sariya: Member of Directors<\/p>\n

2. Nitesh Malpani: Board Member<\/p>\n

3. Bhanubhakta Pokhrel: Board Member <\/p>\n

4. Kirtika Aggarwal: The then Director Chairperson<\/p>\n

5. Niru Dahal: Then Board Member <\/p>\n

6. Ganesh Raj Pant: Then Board Member <\/p>\n

7. Dipesh Kumar Shrestha: Member Secretary of Investment Committee <\/p>\n

8. Naresh Kumar Roka: Chief Executive Officer (suspended)<\/p>\n

Crest Micro Insurance Affiliates<\/strong><\/span><\/p>\n

1. Vidur Puri: Operator<\/p>\n

2. Mridula Saria: Operator<\/p>\n

3. Binod Narsingh Shrestha: Director<\/p>\n

4. Ishwarlal Shrestha: Director<\/p>\n

5. Sunita Marjan: Director<\/p>\n

6. Rohit Karan Vaidya: Investment Coordinator<\/p>\n

7. Pratap Shrestha: Chief Executive Officer (suspended)<\/p>\n

8. Rishiraj Mor: Then Chairman<\/p>\n

9. Pavitra Lal Chuke: Then Member of the Board <\/p>\n

Liberty Micro Life Insurance Affiliates<\/strong><\/span><\/p>\n

1. Balram Khatri: Board Member<\/p>\n

2. Neha Agarwal: Board Member<\/p>\n

3. Asis Singh: Member of Director<\/p>\n

4. Ram Kumar Yadav: Chief Executive Officer (suspended)<\/p>\n

5. Devendra Dhital: Head of the Finance Department<\/p>\n

6. Nicholas Pandey: Chairman<\/p>\n

7. Manish Timilsina: Coordinator<\/p>\n

Affiliates in Nepal Micro Insurance <\/strong><\/span><\/p>\n

1 Ashish Shrestha: Chairman<\/p>\n

2. Mrigendra Nath Rimal: Chief Executive Officer (suspended)<\/p>\n

3 Siddhant Jhunjhunwala: Operator<\/p>\n

4 Latika Golyan: Operator<\/p>\n

5 Badri Sigdel: Operator<\/p>\n

6 Pravina Dahal: Operator<\/p>\n

7. Sujal Malla: Investment Committee Member<\/p>\n","protected":false},"excerpt":{"rendered":"

Kathmandu. They are likely to be suspended at any time after the District Government Attorney’s Office filed a case against the office bearers and employees of the insurance company demanding legal action as per the Securities Act, 2063. If the Securities Board of Nepal (SEBON) writes to the insurance regulator Nepal Insurance Authority (NIA) to […]<\/p>\n","protected":false},"author":5,"featured_media":303132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45099],"tags":[],"class_list":["post-303141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-regulatory-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/303141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=303141"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/303141\/revisions"}],"predecessor-version":[{"id":303142,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/303141\/revisions\/303142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/303132"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=303141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=303141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=303141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}