Government Moves to Dismiss Insurance Authority Chairman Sharad Ojha Over Fake Documents

Kathmandu – The government is preparing to dismiss Sharad Ojha, chairman of the Nepal Insurance Authority, after an investigation concluded that the documents he submitted at the time of his appointment were fake.

A committee formed by the Council of Ministers on Ashar 30 (July 14), under the coordination of High Court Justice Krishna Giri, submitted its report determining that Ojha lacked the required professional experience to lead the regulatory authority. The panel, which also included former joint secretary Jeevan Prakash Sitaula and former Insurance Board member Kapil Dev Oli, found that Ojha’s claims of senior management experience at Chanakya Media Pvt. Ltd. and Trinity Exim Pvt. Ltd. could not be substantiated.

Based on the findings, the Office of the Council of Ministers sought an explanation from Ojha, which he submitted on Sunday. However, sources at the Prime Minister’s Office confirmed that his response was deemed unsatisfactory. The matter is expected to be tabled at the Council of Ministers meeting today, where a final decision on his dismissal is likely.

The Insurance Act requires that any chairman facing dismissal be allowed to present a defense. Once the dismissal is formalized, the government will initiate the process to appoint a new chairman. A selection committee will invite applications through public notice, shortlist three candidates, and recommend them to the Council of Ministers for final approval. Officials expect the Nepal Insurance Authority to have a new chairman within three months.

Ojha’s appointment has been under scrutiny since Falgun 12, 2081 (February 24, 2025). The matter gained further momentum after the Commission for the Investigation of Abuse of Authority (CIAA) also began probing the case, even as it was pending in the Supreme Court.