{"id":305193,"date":"2026-06-29T19:48:10","date_gmt":"2026-06-29T14:03:10","guid":{"rendered":"https:\/\/insurancekhabar.com\/?p=305193"},"modified":"2026-06-29T19:50:05","modified_gmt":"2026-06-29T14:05:05","slug":"govt-seeks-clarification-from-ceo-of-national-insurance-company-shrestha-2","status":"publish","type":"post","link":"https:\/\/english.insurancekhabar.com\/govt-seeks-clarification-from-ceo-of-national-insurance-company-shrestha-2\/","title":{"rendered":"Govt seeks clarification from CEO of National Insurance Company Shrestha"},"content":{"rendered":"

Kathmandu. Chief Executive Officer (CEO) of the government-owned Rastriya Beema Company Limited, Dr. Mr. Shiva Hari Shrestha has been dragged into a serious controversy. The Board of Directors of the company has directed the company to submit a written explanation within 15 working days, stating that its performance was not satisfactory, failed to achieve its business goals and did not show interest in correcting various financial deviations. <\/p>\n

\"\"
CEO Dr. Shivahari Shrestha<\/figcaption><\/figure>\n

The Board of Directors of the Board of Directors on July 10, 2083. Shrestha has written a letter asking for clarification. <\/p>\n

Major allegations and deficiencies in performance<\/p>\n

Dr. Shrestha was appointed as the CEO from the meeting of April 28, 2081. The main charges against Shrestha are as follows: <\/p>\n

\u2022 Failure to achieve business goals: As per the performance agreement, the target of insurance premium and net profit to be achieved by the organization is very low and the work progress is very modest i.e. no progress. <\/p>\n

\u2022 Apathy in the implementation of core insurance software: The company’s core insurance software has not been fully implemented and has not been able to perform general governance functions such as bank accounts and daily closings. <\/p>\n

\u2022 Financial Deviation and Payment Against Rules: No progress has been seen despite repeated requests to collect the amount created by the employees from other organizations despite overpayment of the rules at the time of employee’s retirement, no meaningful efforts have been made to recover the amount due to the company to receive the amount due to the decision of payment of claims. <\/p>\n

\u2022 Submission of Roundabout Report: The Board of Directors had asked for a written report with a clear opinion on the report related to the reinsurance system, but submitted an additional report in the roundabout language without giving a clear opinion. <\/p>\n

\u2022 Violation of Rules and Guidelines: Failure to address the deficiencies pointed out by the internal audit and external audit report of the organization and issued insurance policies contrary to the reinsurance guidelines. <\/p>\n

According to Section 58 of the Insurance Act, 2079 and Clause No. 15 of the Performance Agreement, Dr. It is alleged that Shrestha’s performance is not in the interest of the organization and is not satisfactory. <\/p>\n

The Board of Directors has also threatened to file a reply within 15 working days with evidence if there is any reason for not seeking clarification and if the clarification is not found satisfactory, it will breach the contract agreement and remove it from the post of CEO.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kathmandu. Chief Executive Officer (CEO) of the government-owned Rastriya Beema Company Limited, Dr. Mr. Shiva Hari Shrestha has been dragged into a serious controversy. The Board of Directors of the company has directed the company to submit a written explanation within 15 working days, stating that its performance was not satisfactory, failed to achieve its […]<\/p>\n","protected":false},"author":5,"featured_media":2669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45085,45159,45096],"tags":[],"class_list":["post-305193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-corporate-movement-en","category-news-en","category-non-lifeinsurance-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/305193","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=305193"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/305193\/revisions"}],"predecessor-version":[{"id":305194,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/305193\/revisions\/305194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/2669"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=305193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=305193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=305193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}