Kathmandu. The website of the micro insurance companies that have been suspended after the government filed a criminal case has still posted the details of the suspended directors and chief executive officers with their pictures.
The website of Protective Micro Insurance Company has uploaded the details of the suspended chairmen Dinesh Sariya, Nitesh Malpani and Bhanubhakta Aryal. Similarly, the details of the suspended Chief Executive Officer (CEO) Naresh Kumar Roka are still available in the management group. Among other micro insurers, the website of Guardian Micro Insurance had pictures of the suspended director and chief executive until Sunday.
The Board of Directors of Nepal Micro Insurance, Crest Micro Insurance, Liberty Micro Insurance, Guardian Micro Insurance and Protective Micro Insurance were suspended simultaneously after the government filed a case against them under the Securities Trading Act and Insurance Act on June 12.
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Nepal Micro Insurance has appointed Anil Raj Giri as its Chief Executive Officer (CEO). The NRA has directed the remaining four micro insurers as they are yet to appoint chief executive officers.
On Sunday evening, when the insurance company visited the micro insurer’s website, the website of Guardian Micro Insurance had the details of the suspended board of directors. Among them was Trishala Jhunjhunwala, who is currently absconding. Suspended Chief Executive Officer Chirayu Bhandari and other accused were also present in the management committee with their photographs. These details were removed on Monday.
According to Section 25 (11) of the Corporate Good Governance Directive 2082, the insurer has to appoint the CEO within three months in case the post of executive officer is vacant.
Issuing a circular to 4 micro-insurers on Monday, the Nepal Insurance Authority (NEA) has directed them to form a board of directors and make arrangements for daily operations.
