EIC to elect new BoD on Thursday

KATHMANDU, Feb 11:

The Everest Insurance Company (EIC) is holding election of board of directors (BoD) on Thursday. Eleven shareholders have fielded candidacy for the post of seven board directors.

According to company officials, Niranjan Kumar Tibrewala, Ravi Kumar Tibrewala, Purushottam Raj Bhattarai, Hindu Sanskriti Karki, Rajan Kumar Paudel, Surendra Kumar Silwal, Sashi Agrawal, Pawan Kumar Shanghai, Rashmi Holding Private Limited and Sunglow Investment Private Limited have announced candidacy for the post of board directors.

Niranjan Kumar Tibrewala and Ravi Kumar Tibrewala were also in the previous BoD that was suspended by the Insurance Board (IB) in October. Later, IB had cleared their names following its investigation.

IB had suspended CEO and all members of the nine-member board, including industrialist and former lawmaker Rajendra Kumar Khetan, barring them to hold any post in insurance companies for five years. IB had taken over EIC after the BoD repeatedly flouted its directives.

IB´s management team led by Santosh Prasai will handover the management to the new BoD after the election.

    

Source: Republica