Police clueless about Khetan's whereabouts

KATHMANDU, Jan 2 :

The Central Investigation of Bureau (CIB) has failed to locate whereabouts of industrialist Rajendra Khetan who allegedly misappropriated Rs 60 million from Everest Insurance Company (EIC).

The Insurance Board (IB) had submitted investigation documents against Khetan to CIB on December 27, concluding that the latter was involved in financial fraud. IB had suspended Khetan from the post of chairman of EIC in October.

According to IB, Himalayan Snax and Noodles (HSN) received insurance payment worth Rs 60 million from EIC without paying even a penny as insurance premium. Khetan was the chairman of both the companies when the payment was made.

CIB sources say efforts are on to trace Khetan´s whereabouts. They say Khetan has left the country to evade police action but denied to divulge details.

However, Pitambar Adhikari, spokesperson of CIB, said investigations on Khetan as well as EIC CEO Kebal Krishna Shrestha and his accomplices were on.
Shrestha and his accomplices have been accused of misappropriating another Rs 25 million from EIC. They are currently in judicial custody.

Source: Republica