Kathmandu. Abhiyan Laghubitta Bittiya Sanstha Limited is going to hold its Sixth Annual General Meeting (AGM) on July 16. The meeting will be held at 11 a.m. at Tamrakar Party Venue, Panauti Municipality. It will be held in Ward No. 4, Kavrepalanchowk.
The AGM will discuss and approve the annual report to be submitted by the Chairman on behalf of the Board of Directors for the fiscal year 2081/082, balance sheet up to Ashad 2082, profit or loss account for the fiscal year 2081/082 and the related schedules including the statement of the auditor.
The AGM will appoint an external auditor for the auditing of the fiscal year 2082/083 BS as per the Clause 111 of the Company Act, 2063 and the Bank and Financial Institution Act, 2073 BS and to appoint an external auditor for the auditing of the fiscal year 2082/083 and fix his/her remuneration subject to the approval of the regulatory body. ।
Further, the meeting shall authorize the Board of Directors to make changes or amendments accordingly, if directed by the concerned regulatory body.
If it deems appropriate to proceed with the process of merger, merger or acquisition with other class ‘D’ microfinance financial institutions licensed by the Nepal Rastra Bank, it shall appoint a committee for that purpose, fix the valuation and remuneration of the valuer, sign the agreement relating to merger or acquisition to the Board of Directors or the official designated by the committee. ।
The AGM will endorse a proposal granting full authority to the Board of Directors to obtain approval from Nepal Rastra Bank, Securities Board of Nepal, Office of the Company Registrar and other regulatory bodies, to make any amendment and change in the Memorandum of Association and Articles of Association if directed to do so.
