Banking News – The Central Investigation Bureau (CIB) of Nepal Police has arrested a man who had been absconding in connection with offences under the Insurance Act, 2022 (2079 BS) and the Securities Act, 2007 (2063 BS).

According to the CIB, Mrigendra Nath Rimal, a resident of Kathmandu Metropolitan City–7, was arrested on Thursday from Siphal, Kathmandu, based on complaints filed by the Nepal Insurance Authority and the Securities Board of Nepal (SEBON) in a case prosecuted by the Government of Nepal.

A police team from the bureau apprehended Rimal and produced him before the Kathmandu District Court for further legal proceedings.

Senior Superintendent of Police (SSP) and CIB spokesperson Anupam Shamsher Jabara said Rimal has been presented before the court and the legal process is now underway.

Rimal is the former Chief Executive Officer (CEO) of Nepal Micro Insurance.