NIC (ex-BAI) Appoints New Part-Time Chairman Amidst Legal Battle

The National Insurance Company (NIC) has appointed Santosh K. Gujadhur as its part-time chairman. This announcement comes in the wake of a series of appointments that have stirred the waters of governance within the financial sector.

NIC, formerly known as BAI, is at the centre of a multi-billion rupee legal battle. Its former Chairman Emeritus, Dawood Rawat, has filed a lawsuit against key members of the previous government, accusing them of “expropriation” and “state capture.”

Rawat successfully secured a temporary Supreme Court injunction recently halting the sale of assets associated with his former company.

This legal action is part of a broader contest initiated by Dawood Rawat, questioning the legality of the actions leading to the collapse of the BAI Group a decade ago

On Friday, 11th April, the Council of Ministers officially acknowledged the appointment of the former Supreme Court judge, Ah Foon Chui Yew Cheong, as the new chair of the Financial Services Review Panel.

NIC & NICG

Moreover, the boards of both the National Insurance Company Ltd and the National Insurance Company General Insurance Company Ltd have undergone a comprehensive reconstitution.

In a parallel development, the cultural landscape of Mauritius has also seen a notable appointment, with musician Richard Hein stepping into the role of part-time chairman of the Mauritius Society of Authors (MASA).

These appointments are promising a dynamic interplay of innovation and tradition in the governance of these institutions.

Source: Defi Media