Nepal Police Investigates Deepak Bhatt, Freezes Shares of 56 Investors

Kathmandu. Nepal Police has started an investigation into individuals associated with Deepak Bhatt. The Central Investigation Bureau (CIB) of Nepal Police, which has recommended filing a case against Bhatt, has sent a letter to freeze the shares of 56 investors and high-ranking officials of various companies. It has also directed them to disclose their investment details. In the letter written by CIB, it is stated that an investigation is underway for an offense under the Securities Act, 2063, and details related to the investment of those individuals are requested. The CIB has also instructed the board to send all details of securities market transactions in the names of the mentioned individuals and has requested through the letter to stop the sale or transfer of their shares during the investigation period. The individuals whose share trading has been requested to be stopped include managers and major shareholders of companies such as Himalayan Reinsurance, Nepal Micro Insurance, Himalayan Securities Banker, Capserv Ltd., Guardian Micro Life Insurance, Himalayan Investment Bankers, Protective Micro Insurance, and Himalayan Life Insurance. The individuals for whom share trading has been requested to be stopped are as follows. Individuals and their offices (details): Himalayan Re-insurance Ltd. 1. Upasana Poudel - Chief Executive Officer 2. Amit Mor - Director 3. Rajiv Mor - Director 4. Shubhechha Kharel - Director 5. Subhash Kumar Jhunjhunwala - Director 6. Manish Kumar - Investment Committee Member Nepal Micro Insurance Ltd. 1. Siddhant Jhunjhunwala - Director 2. Latika Golyan - Director Member 3. Badri Sigdel - Director Member 4. Pravina Dahal - Director Member and Investment Committee Chairperson 5. Sujal Mall - Investment Committee Member Himalayan Security Banker Ltd. 1. Sitaram Wagle - Director 2. Akanksha Gupta - Director Capserv Ltd. 1. Shishir Gaihre - Chairman Himalayan Investment Banker 1. Kapil Kumar Dahal - Director Chairman 2. Rajan Prasad Adhikari - Director Member 3. Binu Ghimire - Director Member 4. Narayan Kumar Adhikari - Director Member 5. Utsav Pradhananga - Director Member 6. Subhash Poudel - Investment Member 7. Shalini Sanghhai - Investment Member 8. Pratik Joshi - Investment Member Crest Micro Insurance Ltd. 1. Bidur Puri - Director Member 7. Guardian Micro Life Insurance Company Ltd. 1. Dr. Jaiprakash Jaiswal - Director 2. Uddhavnarayan Bhattarai - Director Member 3. Pramod Prasad Bhattarai - Director Member 4. Jyoti Agarwal - Director Member 5. Navraj Mudbhari - Director Member 6. Chirayu Bhandari - Chief Executive Officer 7. Jyotiprakash Pandey - Investment Committee Member 8. Samir Kharel - Investment Committee Member Protective Micro Insurance Ltd. 1. Kirtika Agarwal - Director Chairman 2. Dinesh Saraiya - Director Member/Investment Committee Coordinator Himalayan Life Insurance Ltd. 1. Vivek Kumar Shah - Director Member 2. Laxman Jhawali - Director Member 3. Rajiv Prasad Pyakurel - Director Member 4. Ashish Dhakal - Director Member/Investment Committee Coordinator 5. Saurabh Dugad - Director Member/Investment Committee Coordinator 6. Sachin Acharya - Director Committee Member 7. Pramila K.C. - Director Member 8. Digambar Jha - Director Member.