Nepal Life Insurance refutes false share purchase claims
KATHMANDU: Nepal Life Insurance Company has strongly refuted recent reports alleging misuse of its subsidiary’s funds to purchase shares of Nepal Reinsurance Company and others through Securities Broker No. 55, Bhrikuti Stock Broker Pvt. Ltd.
The news claimed that Dipak Bhatta, a principal shareholder of Himalayan Reinsurance Company Ltd. (Citizenship No. 107, Kailali), made payments of Rs 370 million from Nepal Life Insurance’s subsidiary to acquire these shares.
In an official statement, the company clarified, “Nepal Life Insurance Company has no involvement in the transactions mentioned above, nor has it conducted any dealings with Mr. Dipak Bhatta or Securities Broker No. 55. We request the public to note this clarification.”
The company reaffirmed that it conducts its business in strict compliance with prevailing laws, regulatory guidelines, and corporate governance principles, ensuring transparency and accountability for all stakeholders.
