Nepal Life Insurance Company has formally denied allegations published in sections of the media claiming misuse of Rs. 370 million from its subsidiary for share purchases.

In a press statement issued on Chaitra 19, the company described the reports as misleading and lacking factual basis. It clarified that it has no involvement with individuals referenced in the reports, including Himalayan Reinsurance shareholder Deepak Bhatta, nor has it engaged in any transactions with Bhirkuti Stock Broker related to the alleged matter.

The company emphasized that its operations are conducted in strict adherence to prevailing laws, regulatory frameworks, and established principles of corporate governance. It reiterated its commitment to maintaining transparency, accountability, and integrity across all financial activities.

Nepal Life further urged investors, stakeholders, and the general public to refrain from relying on unverified or inaccurate information that could undermine market confidence.

The clarification comes amid heightened sensitivity in Nepal’s financial markets, where corporate disclosures and governance standards remain under close scrutiny.