Investigation Report: Businessmen Accused of Embezzling Over 4 Billion Rupees from Insurance Companies

Kathmandu. Police investigation concludes that businessman Deepak Bhatta and his partners have embezzled over 4 billion rupees from five insurance companies, including Himalayan Re-Insurance. The Central Investigation Bureau (CIB) of Nepal Police has submitted its investigation report to the District Government Attorney's Office concerning Deepak Bhatta, Sulabh Agarwal of Shankar Group, and other defendants. CIB's Additional Inspector General Dr. Manoj KC informed Ratopati about the submission. The police have recommended filing charges against Shekhar Golchha, former chairman of Himalayan Re-Insurance; Raj Bahadur Shah, operator of Jawalakhel Distillery; Amit Mor, Rajiv Mor, Subhash Kumar Jhunjhunwala, and Manish Kumar, former directors of Himalayan Re-Insurance; and CEO Upasana Poudel. CIB also recommends making another businessman, Rishiraj Mor, a defendant. The police report mentions that more than 40 individuals should be made defendants. Police have recommended a five-year prison sentence for them under insurance-related offenses. Somakanta Bhandari, Joint Attorney at the District Government Attorney's Office Kathmandu, stated that the investigation report submitted by the police is under study. He added,