Reliance Life’s Fourth AGM Concluded by the approval of Cash Dividend

Kathmandu: The fourth annual general meeting(AGM) of Reliance Life Insurance Company(RLI) has been concluded today. The meeting has approved the 5.2632 percent cash dividend proposed by the board of directors(BODs).

The meeting has also elected two directors representing ordinary shareholders in the BODs. Badri Prasad Pokhrel and Parichid Khemka have been elected as the new members of the BODs. At the meeting, the shareholders also suggested the company to construct a building on its own land.

Similarly, the AGM has discussed and passed the annual report forwarded by the BODS for the fiscal year 2076/77. The meeting has approved the financial statements of the fiscal year 2076/77 including the report of the auditor, profit and loss account, cash flow statement.

Further, the meeting has passed a proposal to make necessary amendments in the MOA and AOA of the company as proposed. It is stated that the proposed amendment of the company’s MOA and AOA will also include if any suggestion or instruction received from the regulatory body for amendments. In addition, the meeting approved the amount of Rs750,000 which was handed over to the Government of Nepal’s Covid19 Fund as a part of its Corporate Social Responsibilities.

The AGM was chaired by the Chairman of BODs Tara Chand Kedia.

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