Suspended CEO of PrimeLife faces criminal case for thrashing cop

ShareSansar, January 9:

It seems that there is no end to troubles for Resta Jha, the suspended Chief Executive Officer of PrimeLife Insurance Company Limited. The police have filed a criminal case against Jha after arresting him for beating up a traffic police constable on duty at Gaushala on Monday evening.

After Jha who had been sitting beside car driver Jasmin Hada got off the car and caught constable Bikash Prasad Yadav by his neck and beat him up on the road after the police personnel asked the driver to produce his license.

Even some by-standers who witnessed the incident had went on to lodge the complaint against Jha at the nearby police post.

The Metropolitan Police Range Hanumandhoka then filed a public offense case against Jha on Tuesday.

In November, the Appellate Court Patan had issued an interim order asking Primelife Insurance not to let its just reappointed CEO Jha to assume office.
 
A complaint was lodged at the Appellate Court after the insurance company defied the order issued by the Insurance Board, the regulator, not to reappoint Jha to the post of the CEO, stating that he does not have enough experience and qualification to handle the post.
 
As per the new Insurance Corporate Governance Regulation 2069, the regulator in October had rejected Jha’s reappointment as the chief executive of the insurance company, citing eligibility criterion.

Shortly before his reappointment as the CEO, the Insurance Board had penalised Jha Rs 10,000 (which is the highest amount of fine the board could impose) for indulging in expenditures beyond the limit set by the regulator on agent incentive and promotional activities.
 
And the regulator had gone on to direct the company to hold a Due Diligence Audit.

Last year the IB had sought clarification from Jha for procuring interior décor items without calling for proposals.