Limbu´s action had directly violated the Supreme Court´s verdict, which had asked Limbu to work as per the instructions of Sugat Ratna Kansakar, executive chairman, NAC.
Responding to a writ petition filed by Limbu, the apex court had given its verdict on August 12. Limbu had moved the apex court after knowing that Kansakar´s appointment as executive chairman meant his executive power to run the company had been transferred to the latter.
Third party insurance scheme delayed
KATHMANDU, Aug 17: The government has postponed implementation of the third party insurance (TPI) program by 15 days.
The program -- under which all vehicles plying on the road must buy insurance worth Rs 500,000 to cover road accidents -- will now be introduced on September 1, according to a press release issued by the Federation of Nepalese National Transport Entrepreneurs. The federation has also urged all transport entrepreneurs to deposit the insurance premium amounts by August 31.
Transporters have said that vehicles operating without the new insurance cover would be a blunder because they would neither have the insurance coverage, nor would they be able to escape with low compensation in case of accidents.
Rajkarnikar sworn in
KATHMANDU, Aug 17: Nepal Rastra Bank (NRB) Monday appointed Dr Pushpa Raj Rajkarnikar as the coordinator of Nepal Bank management committee. NRB governor Bijaya Nath Bhattarai administered the oath of office and secrecy to Rajkarnikar amid a ceremony.
"A six-member management committee led by Rajkarnikar was formed last week as per clause 86 of the Nepal Rastra Bank Act 2001," states a press release issued by the NRB. Other members of the committee include Pramod Raj Sharma, Dr Keshav Raj Khadka, Surendra Mani Tripathi, Dr Chandra Mani Adhikari and Rameshwar Prasad Sharma Upadhyay.
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