KATHMANDU: Nepal Rastra Bank (NRB) has decided to reduce the share capital of 35 shareholders of Karnali Development Bank.
The central bank has decided to reduce the share capital of Karnali Development Bank as the paid-up capital of Karnali Development Bank has been depleted and the liabilities are not covered by the assets. The central bank has reduced the share capital of the shareholders to 1 percent during the restructuring of the bank as it was found that the amount of share capital to be paid by the shareholders was illegally paid.
The central bank has reduced the share capital of 25 promoters and 10 ordinary shareholders. Accordingly, the total shares of these promoter shareholders have been reduced from 21,360.60.84 units to 21,360.61 shares.
Similarly, the central bank has reduced the total 126.85 units of shares to 126.85 units from 12,684.98 units of the general public.
The hearing has been scheduled for November 22 at 10 am in the High Court, Tulsipur, for the recording work at the Company Registrar’s Office by reducing the share capital. The Rastra Bank has informed the shareholders to appear with substantive evidence if any of their claims are opposed on that day.
