{"id":36937,"date":"2026-08-24T10:36:05","date_gmt":"2026-08-24T04:51:05","guid":{"rendered":"https:\/\/bankingsansar.com\/news\/36937\/"},"modified":"2026-08-24T10:40:05","modified_gmt":"2026-08-24T04:55:05","slug":"gross-misuse-of-insureds-money-in-nepal-life-deputy-ceo-incompetent-setting-up-after-giving-job-to-nea-bosses-people-2","status":"publish","type":"post","link":"https:\/\/english.bankingsansar.com\/news\/36937\/","title":{"rendered":"Gross misuse of insured’s money in Nepal Life, Deputy CEO ‘incompetent’, ‘Setting up after giving job to NEA bosses’ people!"},"content":{"rendered":"

Kathmandu. KATHMANDU: Nepal Life Insurance has found that the money saved by the insured has been misused. Amit Kumar Kayal, who is also the deputy CEO of the company, has been found to have misappropriated the company’s money in the name of education and other expenses. A complaint in this regard was lodged with the regulator Nepal Insurance Authority. While investigating the complaint, it has been revealed that the NEA has taken action against Nepal Life Insurance after it was found that the expenses made in the name of Kayal were illegal. <\/div>\n<\/p>\n

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Kayal, who earns millions a month, donates illegally to study MBA without making a procedure! <\/b><\/div>\n<\/p>\n

It has also been revealed that Kayal, the deputy CEO of the company, had studied MBA by taking a donation of Rs 5 without making a working procedure from the company.<\/p>\n

That is, the company has donated Rs 5 lakh to Kayal, who earns millions of rupees a month, to study MBA. The Board of Directors of the Board of Directors has decided to provide Rs 5 lakh to Kayal as expenses for his MBA studies. However, he is not a person who does not have money to study, nor was there a procedure to pay for his education. However, Kayal was asked to pay Rs 5 lakh to read in the style of Jagannath. Later, after a heated dispute on this issue, the company has made a procedure to pay the employees to study. However, even after it became clear that the money given to Kayal was illegal, neither the money has been returned nor action has been taken against the company. <\/div>\n<\/p>\n

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MBA education by spending Rs 5 lakh after questions were raised on eligibility, the authority declared the appointment illegal! <\/strong><\/div>\n<\/p>\n

Kayal has studied CA from India. Even when he came to Nepal and got a job in Nepal Life, his qualifications were not reached. His appointment was against the prevailing law as he did not have CA academic qualification. After this, the company illegally paid him Rs 5 lakh and got him admitted to MBA in Lord Buddha Education Foundation. <\/div>\n<\/p>\n

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Although he was admitted <\/p>\n

, the regulatory authority held that his appointment was invalid. The company did not take action against Kayal even though he was fined for not having the experience as per the insurer’s Corporate Good Governance Directive, 2075. Instead, he was promoted to deputy CEO at the insistence of the board members. In the event that the initial appointment was illegal, it was clear that his promotion was also illegal, but no action was taken against him later. <\/div>\n<\/p>\n

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}’After giving a job to the boss of the authority, he got the setting!’ <\/b><\/div>\n<\/p>\n

The Insurance Authority (IBA) had also decided to take action against Nepal Life Insurance Company (NIA) for appointing Kayal as the deputy CEO of Nepal Life Insurance Company.<\/p>\n

But the employees of the NEA themselves have got the ‘setting’ of everything after the boss of the Nepal Insurance Authority, the regulator of Nepal Life, got the job done by Kayal.\u00a0 After that, the Nepal Insurance Authority (NIA) has shown silence on the issue by keeping the complaint on the ground. Questions were also raised within the Insurance Authority as to how the post became legal when the Insurance Authority was promoted from the same post to a higher post after questioning the appointment of one level. But after the phone call of some leaders in the then government and the appointment of the relatives of the NRA boss, everything was finally settled. <\/div>\n<\/p>\n

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Kayal doesn’t speak, information officer’s phone is switched off! <\/b><\/div>\n<\/p>\n

We have repeatedly contacted Amit Kumar Kayal for his opinion on the matter.<\/p>\n

But after he could not be contacted, we contacted the information officer of the company, Binod Kumar Bhujel. But he didn’t pick up our phone. However, the Insurance Authority has confirmed that action has been taken against Nepal Life Insurance after it was found to be doing illegal work. <\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

Kathmandu. KATHMANDU: Nepal Life Insurance has found that the money saved by the insured has been misused. Amit Kumar Kayal, who is also the deputy CEO of the company, has been found to have misappropriated the company’s money in the name of education and other expenses. A complaint in this regard was lodged with the […]<\/p>\n","protected":false},"author":1,"featured_media":36932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[90],"tags":[],"class_list":["post-36937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-en"],"acf":[],"jetpack_featured_media_url":"https:\/\/bankingsansar.com\/wp-content\/uploads\/2026\/08\/nepal-life-insurance-7.jpg","publishedDateNp":"\u096e \u092d\u093e\u0926\u094d\u0930 \u0968\u0966\u096e\u0969, \u0938\u094b\u092e\u092c\u093e\u0930 \u0967\u0966:\u0969\u096c","_links":{"self":[{"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/posts\/36937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/comments?post=36937"}],"version-history":[{"count":1,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/posts\/36937\/revisions"}],"predecessor-version":[{"id":36938,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/posts\/36937\/revisions\/36938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/media\/36932"}],"wp:attachment":[{"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/media?parent=36937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/categories?post=36937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bankingsansar.com\/bs_api\/wp\/v2\/tags?post=36937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}