Himalayan Life Insurance Limited has accepted the resignation of Sulabh Agrawal, the chairman of the board of directors.
Agrawal resigned from both his positions as chairman and director on Chaitra 19. The board of directors accepted his resignation in a meeting held last Friday, company secretary Ishwar Kumar Sedhain confirmed.
Agrawal is the son of Shankarlal Agrawal, chairman of the Shankar Group. Both father and son have been taken into police custody. Previously, Deepak Bhatt, Agrawal’s business partner, had also been arrested by the Central Investigation Bureau (CIB).
The arrests are part of an ongoing investigation by the Department of Money Laundering Investigation.
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