Kathmandu. Guardian Micro Life Insurance has postponed its special general meeting.
Guardian Micro Life had called a special general meeting a few days after the annual general meeting. The company was planning to pass an agenda to issue 100 percent of the current paid-up capital, i.e. 1:1, through the meeting.
The company had not taken prior approval from the regulatory body Nepal Insurance Authority (NIA) regarding the issue of right shares and the special general meeting being called for that purpose. Then, on Chaitra 28, the Insurance Authority had directed the company to send a satisfactory explanation within 3 days.
After not receiving a satisfactory response from the company, the Insurance Authority had directed Guardian Micro Life to postpone the special general meeting on Baisakh 2. In accordance with the same directive, the meeting of the company’s board of directors held today on Baisakh 3 has postponed the special general meeting.
The company had called the special general meeting on Baisakh 5. For this, the company had closed its books on Chaitra 28.
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