Sun Nepal Life CEO Returns to Work After CIB Probe

Kathmandu — Sun Nepal Life Insurance CEO Raj Kumar Aryal has returned to work after a four-month investigation by Nepal Police’s Central Investigation Bureau (CIB) found no irregularities against him, according to the company.

CIB arrested Aryal on March 30 as part of an investigation into alleged irregularities in the allocation of shares reserved for employees under the company’s initial public offering (IPO). He was released on April 5.

Although released, Aryal did not return to the office during the investigation period. Acting CEO Kabi Phuyal handled the company’s day-to-day operations in his absence.

The company said Aryal resumed his regular responsibilities after receiving clearance from the investigating authorities. The CIB’s investigation reportedly found no evidence of wrongdoing in the employee share allocation process.