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Chaudhary Group’s insurance fraud exposed: Supreme Court orders Rs 40 million repayment after decade-long scandal

KATHMANDU: Nepal’s Supreme Court has delivered a damning verdict against CG Electronics, a subsidiary of the powerful Chaudhary Group, ordering the company to repay NPR 40 million (approximately $300,000 USD) to United Ajod Insurance for orchestrating a fraudulent insurance claim tied to a 2012 warehouse fire. The ruling, handed...

Chaudhary Group’s insurance fraud exposed: Supreme Court orders Rs 40 million repayment after decade-long scandal
Sharad Ojha appointed as chairman of Nepal Insurance Authority

Sharad Ojha appointed as chairman of Nepal Insurance Authority

Siddhartha Premier Insurance announces 30pc cash dividend for shareholders

Siddhartha Premier Insurance announces 30pc cash dividend for shareholders

Govt initiates selection process for Nepal Insurance Authority chairperson amid criticism

Govt initiates selection process for Nepal Insurance Authority chairperson amid criticism

Insurance claims amounting to Rs 12.86 billion filed following floods and landslides

Insurance claims amounting to Rs 12.86 billion filed following floods and landslides

Case filed against Insurance Authority chair Silwal over forgery and corruption charges

Case filed against Insurance Authority chair Silwal over forgery and corruption charges

Insurance claims in Nepal soar to NPR 9.5 bn following October floods and landslides

Insurance claims in Nepal soar to NPR 9.5 bn following October floods and landslides

Insurance claims from recent floods and landslides surpass Rs 2.67 bn, with expectations of further increases

Insurance claims from recent floods and landslides surpass Rs 2.67 bn, with expectations of further increases

Insurance regulatory authority eases capital requirements for insurance companies

Insurance regulatory authority eases capital requirements for insurance companies

Nepali insurance companies delay settling claims amid rising complaints

Nepali insurance companies delay settling claims amid rising complaints

Saurya Airlines Crash: Tribhuvan International Airport Incident and Insurance Details

Saurya Airlines Crash: Tribhuvan International Airport Incident and Insurance Details

Surge in Insurance Policy Surrenders Amid Economic Slowdown

Surge in Insurance Policy Surrenders Amid Economic Slowdown

Non-Life Insurers to Continue Farm Insurance Following Government Agreement

Non-Life Insurers to Continue Farm Insurance Following Government Agreement

Himalayan Reinsurance makes B+ rating from AM Best

Himalayan Reinsurance makes B+ rating from AM Best

Nepal Insurance Authority imposes fines on three insurers for misconduct

Nepal Insurance Authority imposes fines on three insurers for misconduct

NIA grants permission for right share issuance to eight insurers to boost paid-up capital

NIA grants permission for right share issuance to eight insurers to boost paid-up capital

Nepal Insurance Authority implements “force merger” approach to address capital increment rule violations

Nepal Insurance Authority implements “force merger” approach to address capital increment rule violations

Gyanendralal Pradhan and Guru Neupane found illegal trading of shares

Gyanendralal Pradhan and Guru Neupane found illegal trading of shares

Cases of surrendering insurance policies on the rise

Cases of surrendering insurance policies on the rise

Insurance companies start distributing Covid-19 insurance to insurance claimants

Insurance companies start distributing Covid-19 insurance to insurance claimants

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