Dispute at Rastriya Jeevan Beema Company Turns Ugly, CEO Allegedly Forced Out of Office

Kathmandu — Tensions erupted at Rastriya Jeevan Beema Company after employees associated with the company’s union allegedly confronted and chased Chief Executive Officer Sundar Panthi inside the office.

According to reports, the incident took place last Monday when union representatives gathered in the CEO’s office during a meeting. The situation escalated when employees accused Panthi of failing to attend the company’s anniversary event on Falgun 11 and refusing to approve a petrol reimbursement bill that had been submitted by staff. Witnesses say the dispute quickly turned chaotic. Some employees reportedly attempted to physically confront the CEO and even lifted and threw the desk inside his office during the altercation.

Following the confrontation, company sources say Panthi has not been present at the office. A video that surfaced last week appears to show union-affiliated employees damaging furniture in the CEO’s workspace. The meeting where the incident occurred was attended by several senior officials, including Deputy CEO Mahesh Rimal, along with other management staff and union members. Reports claim the disruptive behavior was carried out by a group believed to be close to Rimal.

Previously, former administrator Kavi Pathak had also allegedly been threatened by members of the management team, and damage had been caused to his office.

Two insurance companies with investment from the Government of Nepal are said to have been effectively controlled by two individuals for years, preventing audits and enabling large-scale financial irregularities. At Rastriya Beema Company, Subas Koirala is accused of obstructing the CEO from working and forcing them out, while at Rastriya Jeevan Beema Company (Rastriya Beema Sansthan), Mahesh Rimal is said to be playing a similar role. As a result, the companies have reportedly been unable to conduct audits for years, raising concerns about misuse of public deposits.