Kathmandu. KATHMANDU: Former Chief Executive Officer (CEO) of Nepal Micro Insurance Company Mrigendra Nath Rimal has been arrested.

The Central Investigation Bureau (CIB) of Nepal Police arrested Rimal who was absconding on charges under the Insurance Act and Securities Act.

Rimal, a resident of Kathmandu Metropolitan City-7, who was absconding in a case filed against him on the basis of a complaint filed by Nepal Insurance Authority and Securities Board of Nepal (SEBON), was arrested from Sifal of Kathmandu on Thursday.

According to the CIB, a case of offence against Rimal under the then Insurance Act, 2071 and Securities Act, 2063 was sub-judice. According to the Bureau, he was arrested during the search as he had been absconding for a long time.

According to Senior Superintendent of Police (SSP) Anupam Shumsher JB Rana, Rimal has been presented before the Kathmandu District Court, Babarmahal, for necessary legal action.

Police said they are continuing their search and arrest of absconding defendants involved in economic and financial crimes.