Sanima Reliance Life Insurance Requests Shareholders to Deposit Tax for Bonus Shares

Kathmandu – Sanima Reliance Life Insurance has urged its shareholders to deposit the required amount for tax purposes to receive the 18.3811 percent bonus shares approved during the company’s general meeting held on October 9, 2024.

According to the company, the bonus shares will be transferred to the beneficiary accounts of shareholders only after they deposit 5 percent of the bonus shares as tax.

Sanima Reliance Life was formed following the merger of Sanima Life and Reliance Life. While shareholders retained on the date of the merger are exempt from paying tax on dividends for two years, they are required to fulfill tax obligations after the start of integrated transactions.

The company further clarified that shareholders who have taken loans by pledging their shares as collateral must first pay the tax amount and submit a No Objection Certificate (NOC) or release letter from the concerned bank or financial institution. Only after completing this process will the bonus shares be issued to them.