Sharad Ojha, Chairman of the Nepal Insurance Authority, has been suspended following the government’s decision to form a committee to probe his credentials.
A Cabinet meeting late Monday, July 14, decided to form a three-member committee under the coordination of former High Court Judge Krishna Giri. With the committee’s formation, Ojha has been automatically suspended from his position, as mandated by law.
Ojha was appointed to the post earlier this year following a Cabinet's decision on February 24. However, his appointment became controversial after allegations surfaced that he had submitted a fake experience certificate.
The Commission for the Investigation of Abuse of Authority (CIAA) is also conducting a separate inquiry into the documents submitted by Ojha.
Under the Insurance Act, a chairperson can be removed only after an investigation by a committee chaired by a retired High Court judge. The committee must include two additional members with postgraduate qualifications and at least ten years of experience in the insurance or financial sector.
Originally from Kanchanpur district in Sudurpaschim Province, Ojha has a background in journalism as well. His appointment was reportedly backed by Nepali Congress President Sher Bahadur Deuba.