Kathmandu. The 19th Annual General Meeting of Nerude Mirmire Laghubitta Bittiya Sanstha Limited has been concluded. The assembly was presided over by the Chairman of the Board of Directors of the organization, Raj Kumar Rai, at the White Palace Banquet at Kaushaltar, Madhyapur Thimi-3, Bhaktapur.
Earlier, the AGM called on July 14 was postponed due to lack of required quorum and the meeting was reconvened as per the decision of the Board of Directors.
At the beginning of the program, Mr. Sanju Ghimire, Director of the organization, welcomed all the shareholders, guests and participants. She expressed gratitude to all the shareholders who participated in the AGM for their continued trust, support and support even in the difficult situation of the company.
In the AGM, Chairman and Chairman Raj Kumar Rai presented the annual report of the Board of Directors for the fiscal year 2081/82 BS and presented the general and special proposals proposed for the AGM. In his address, he shed light on the challenges the organization has faced in the recent period, strategies adopted for financial reforms, good governance, risk management, reduction of non-performing loans, business restructuring and the future course of action.
There was enthusiastic participation from the shareholders in the AGM. A total of 21 shareholders put forth their views, suggestions and inquiries on the report of the Board of Directors and presented constructive suggestions for the future improvement of the organization.
During the discussions, the shareholders especially drew their attention to make the management of non-performing loans more effective, to make the branches operating at a loss making profit-oriented, to manage the human resources, to manage the internal conflicts seen in the organization, to hold the annual general meeting within the legal deadline in the coming years and to provide returns to the investors on a regular basis.
In response to queries, queries and suggestions raised by the shareholders, Chief Executive Officer of the company Keshav Kumar Poudel informed about the current financial status of the company, programs to reduce non-performing loans, business restructuring, branch management, human resource mobilization, compliance of regulatory system and future strategic plan. Stating that the business condition of the company was gradually moving towards improvement, he expressed commitment that the suggestions of the shareholders would be incorporated in the upcoming action plan and management reforms.
The AGM unanimously passed all five proposals under general proposal and four proposals under special proposals. Among the special proposals endorsed were to implement the capital increase plan of the organization after getting regulatory approval, to make necessary amendments to the Memorandum of Association and Articles of Association and, if necessary, to give necessary powers to the Board of Directors to proceed with the process of merger or acquisition with similar type of microfinance financial institution.
In his concluding remarks, Mr. Raj Kumar Rai expressed his gratitude to all the shareholders, directors, CEOs, employees, regulatory agencies, media persons and supporters for their direct and indirect contribution in the successful conduct of the 19th AGM.
He expressed his
commitment to work more effectively in the coming days keeping the business consolidation of the organization, good governance and protection of shareholders’ interests.
The company has expressed the belief that the company will achieve more positive results in the coming days by focusing on business reforms, financial strengthening, enhancement of good governance and protection of long-term interests of shareholders through the effective implementation of the decisions received from the AGM.
