Kathmandu: The special general meeting of Mahalakshmi Life Insurance Company has passed the special agenda for merger or acquisition to meet the regulatory capital requirement. The special general meeting held today at its head office in Kathmandu, has assigned the authority to the Board of Directors(BODs) for further proceeding or decision making regarding the merger.
Following the special general meeting, the meeting of the BODs held today has formed a three-member merger committee. The merger committee formed under the coordination of BOD’s member Suresh Sapkota, and has two members Umesh Lal Shrestha and Ramesh Kumar Bhattarai.
The company has passed a special resolution to increase the authorized capital to Rs. 5 billion and issued capital to Rs 3 billion as per the directive of the Insurance Board. Accordingly, a proposal to amend the management MoA and AoA has also been passed by the meeting.