Kapil Kumar Dahal, the current CEO of the company, had filed a writ petition at the Supreme Court (SC) demanding to stop the process of appointing a new CEO of the company.TAG_OPEN_div_14 A single bench of Justice Tek Prasad Dhungana issued the order not to proceed with the process of appointing a new CEO for the time being.
Dahal was automatically suspended after he was taken into custody on August 6, 2 TAG_OPEN_div_12 008 in course of investigation in a securities case. Dahal, who was later released on bail on the court’s order, has approached the court questioning whether the post of CEO can be considered vacant as he has already been released on bail.
The Supreme Court (TAG_OPEN_div_10 SC) has ruled that there is a serious legal question whether the post of a suspended person will automatically become vacant after his release on bail.
The court has summoned both sides of the case for hearing on August 30.TAG_OPEN_div_8 The Insurance Authority of Nepal (IBA) has issued an order to keep the status quo without implementing the notice inviting applications for the new CEO published on August 19.
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