Kathmandu. Abhiyan Laghubitta Financial Institution Limited is going to hold its fifth annual general meeting on July 15. The meeting has been called at 12:30 pm at tamrakar party venue in Panauti.
On behalf of the Board of Directors, the Meeting will discuss and pass the annual report of the fiscal year 2080/81 to be submitted by the Chairman, the auditor’s report along with the balance sheet till Ashadh 2081, the profit and loss account for the financial year 2080/81 and the cash flow statement for the same period.
According to Section 111 of the Companies Act, 2063 and Section 63 of the Banks and Financial Institutions Act, 2073, the meeting will pass a proposal to appoint auditors and fix their remuneration for auditing the financial year 2081/82, and to elect four board of directors representing the nine founding groups in the financial institutions.
The meeting will pass a proposal to give full authority to the Board of Directors to take approval from Nepal Rastra Bank, Securities Board of Nepal, Office of the Registrar of Companies and other regulatory bodies, to carry out all other works including to make amendments and changes in the Memorandum of Management and Regulations.
This financial institution will pass various proposals, including the authority to form a committee for the purpose, appoint the assessee and fix his remuneration, merge or sign the agreement related to the merger or acquisition, if it is appropriate to proceed with the merger or acquisition process with other ‘D’ category microfinance institutions licensed by the Nepal Rastra Bank.
