Rastriya Beema Company to Discuss Financial Reports at AGM Today

Kathmandu – The second annual general meeting of the government-owned Rastriya Beema Company Limited is being held today at Anmol Catering Services Pvt. Ltd., Shankhamul, Kathmandu. Despite the weight of unresolved complaints and non-compliance with auditing principles, the meeting seeks to approve annual reports for the fiscal years 2073/74 and 2074/75.

The agenda, approved by the company’s board of directors on December 13, includes passing financial statements, balance sheets, and related schedules. Concerns have been raised regarding discrepancies in the reports, which were previously approved by the Nepal Insurance Authority under pressure from the Ministry of Finance. Audit findings revealed accounting irregularities, including unrecorded reinsurance claims and unreconciled credit insurance policies, breaching accounting standards and financial discipline.

Another key agenda item is the approval of meeting allowances and facilities for directors. Proposed benefits include Rs. 6,000 per meeting and Rs. 12,000 monthly for communication, newspapers, internet, and fuel expenses. The company also plans to appoint and finalize remuneration for auditors for fiscal years 2075/76 to 2078/79 based on the Auditor General’s recommendations.