CIB Arrests Suspended CEO Of Nepal Micro Insurance Mrigendra Nath Rimal
23rd July 2026, Kathmandu
The Central Investigation Bureau of Nepal Police has arrested Mrigendra Nath Rimal, the suspended Chief Executive Officer of Nepal Micro Insurance.
CIB Arrests Suspended CEO
The arrest was executed in connection with alleged offenses under the Insurance Act, 2079 and the Securities Act, 2063.
Apprehended After Remaining Absconding In Kathmandu
According to official statements from the Bureau, Rimal was apprehended on Thursday from Sifal, located in Ward Number 7 of Kathmandu Metropolitan City. Authorities confirmed that the suspended executive had been absconding prior to his arrest by law enforcement officers.
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Formal Complaints Filed By Regulatory Authorities
Police confirmed that the arrest was initiated following formal regulatory complaints submitted by the Nepal Insurance Authority and the Securities Board of Nepal. The legal case names the Government of Nepal as the primary plaintiff, with Dipak Bhatt and other individuals listed as co-defendants.
Remanded In Judicial Custody For Further Investigation
Following his apprehension in Sifal, Rimal was presented before the Kathmandu District Court to secure an extension of judicial custody. The custody extension will allow law enforcement officials to conduct a thorough investigation into the financial and operational allegations.
Legal Proceedings Underway For Financial Offenses
The Central Investigation Bureau stated that detailed legal proceedings and investigative procedures remain actively underway under the governing provisions of the Insurance Act, 2079 and the Securities Act, 2063. Investigators continue to gather evidence to determine the full scope of the financial offenses.
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