Sharad Ojha Suspended as Insurance Authority Chairman After Forgery Scandal

Kathmandu — Sharad Ojha, a former journalist who was controversially appointed as Chairman of the Nepal Insurance Authority, has been suspended after serving for only four months and 17 days. The Cabinet meeting on Monday formed an investigation committee, led by High Court Justice Krishna Giri, to probe allegations that Ojha secured the post using fake documents.

Ojha was appointed on 12 Falgun 2081 (February 4, 2025) during a Cabinet meeting, allegedly bypassing the eligibility criteria outlined in the Insurance Act 2079. He had no relevant experience or qualifications, yet managed to gain approval with forged documents, including a falsified experience letter from Trinity Exim Pvt. Ltd., a company linked to arms supply for Nepal Police. He also misrepresented his work history at Chanakya Media, violating the Working Journalists Act 2051, which prohibits managerial roles for such positions.

Ojha’s tenure was marked by secrecy and a lack of industry engagement. Instead of formally meeting with insurance company CEOs, he collected written presentations to grasp the basic concepts of insurance. He reportedly avoided public functions and nearly faced suspension by the Supreme Court on Jestha 19 (June 2), but delayed proceedings with alleged backing from sitting justices.

Following a series of legal complaints, including filings at the Supreme Court and the Commission for the Investigation of Abuse of Authority (CIAA), the government finally initiated an official inquiry. His suspension follows another major controversy in the sector involving former chairman Surya Prasad Silwal, reinforcing concerns about politically motivated and unqualified appointments.