Kathmandu. The 14th and 15th annual general meetings of Sindhu Bikas Bank were held last Friday. The bank, which was unable to hold the general meeting in the last fiscal year due to various reasons, has held the annual general meetings of the two years simultaneously.
The general meeting of the bank held on Friday, Chaitra 8 at Mirabal Hotel and Resort in Dhulikhel, Kavrepalanchok district, unanimously approved the financial statements for the fiscal year 2079/80 and the fiscal year 2080/81. The general meeting has appointed an external auditor for the fiscal year 2081/82 and has also approved the appointment of Bharat Bahadur Karki as an independent director.
Under a special resolution of the general meeting, the proposal to issue 116 percent of the bank’s current paid-up capital, as prescribed by the Nepal Rastra Bank for regional development banks, should be one billion and twenty million rupees.
The proposal has been approved, stating that the right shares will be issued only after approval from the Nepal Rastra Bank and other regulatory bodies. In addition, the general meeting unanimously passed a proposal to authorize the board of directors to carry out mergers or acquisitions with other banks and financial institutions.
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