Kathmandu: Kathmandu District Court has granted police a five-day remand to investigate the Chief Executive Officer of Sun Nepal Life Insurance, Raj Kumar Aryal, in connection with an alleged share-related fraud case.
Aryal was arrested on Monday by the Central Investigation Bureau of Nepal Police. Following his arrest, the court approved additional time for investigators to carry out further inquiry.
According to authorities, Aryal is being investigated over discrepancies in documents submitted to regulatory bodies regarding the allocation of shares reserved for company employees.
Police allege that differing sets of information were presented during the reporting process, raising concerns of possible misrepresentation. The investigation into the matter is ongoing.
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