सिंहदरबार संवाददाता
Kathmandu. The Nepal Insurance Authority has extended the time for increasing the paid-up capital of two insurance companies. The authority has extended the time for increasing the paid-up capital of Nepal Reinsurance Company and Himalayan Reinsurance Company.
The Insurance Authority has stated that the time for increasing the capital has been extended by 1 year. According to authority sources, the authority had set a time limit until the month of Magh for the capital increase. However, after both the insurance companies did not take any steps to increase the capital, the time has been extended by one year.
Last year, the Insurance Authority had asked to increase the paid-up capital to Rs 20/20 billion by the end of Magh 2081. Both the companies have submitted capital plans. Nepal Relay has written a letter to the government seeking permission. Similarly, Himalayan Relay has also submitted a capital plan. In which a plan has been presented to invest the profit money and a certain percentage of rights shares.
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