Himalayan Re Directors, Including Resigned Chair Shekhar Golchha, Give “Silence” Response to Regulator

Kathmandu — Directors of Himalayan Re, including former chair Shekhar Golchha, have issued what is being described as a “silence response” to a clarification sought by the Nepal Insurance Authority.

About a week ago, the regulator had asked for explanations from board members and senior management. In response, Golchha and several other directors who had already resigned stated that it was not appropriate for them to comment on the matter, given that they were no longer associated with the company.

The clarification request was related to questions surrounding the Hilton Hotel and associated investments. Most of the former directors maintained that, having stepped down from their positions, they were not in a position to provide further explanation.

The issue comes amid escalating internal disputes within Himalayan Re. In recent weeks, the company saw a wave of resignations from its chair, board members, and senior management team.

Despite the resignations, the Insurance Authority had still sought clarification from the former chair and directors regarding the matter.