Sharad Ojha, Chairperson of the Nepal Insurance Authority, has been automatically suspended under Section 12(3) of the Insurance Act 2079 following the government’s decision to form an investigation committee.
Automatic Suspension as per Insurance Act
Sharad Ojha has entered automatic suspension after the government formed a three-member probe committee led by former High Court Justice Krishna Giri. According to Section 12(3) of the Insurance Act 2079, once an investigation committee is formed, the concerned individual is deemed automatically suspended until the investigation is concluded.
Cabinet Decision and Dissatisfaction with Conduct
The decision to form the committee was made during Monday’s meeting of the Council of Ministers. The cabinet expressed dissatisfaction with Ojha’s conduct and accordingly approved the formation of the investigation team.
Recent Appointment to the Post
Sharad Ojha was appointed as the Chairperson of the Nepal Insurance Authority on Falgun 12, 2080 B.S. His suspension comes within months of assuming office.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
