Kathmandu. The 31st Annual General Meeting (AGM) of United Ajod Insurance was held today. The meeting was held at Amrapali Banquet and Event in Bhatbhateni, Kathmandu.
Last fiscal year 2080. The government has approved a total dividend of 10.5263 percent of the current paid-up capital of Rs 2.10 billion proposed for 81. This includes 10 percent bonus share and 0.5263 percent cash dividend for tax purposes.
The meeting also passed a special proposal to issue 10 per cent rights of rs 2.31 billion in paid-up capital to be maintained after distribution of bonus shares. After the issue of right shares, the paid-up capital of the company will be Rs 2.54 billion. Nepal Insurance Authority (NEA) has fixed the minimum paid-up capital of non-life insurance companies at Rs 2.5 billion.
Similarly, the assembly has approved a proposal to authorise the board of directors to make any changes in the company’s management letter and regulations if it receives instructions from the regulatory body to make any changes in the company’s management letter and regulations.
The meeting is approving the appointment of directors. Besides approving the annual and auditor’s financial report for the last fiscal year, the assembly also approved the proposal regarding the appointment of auditors and determination of their remuneration for the current fiscal year.
