The Prabhu Mahalakshmi Life Insurance’s General meeting have completed

Kathmandu : Prabhu Mahalakshmi Life Insurance has passed a special resolution to bring 17 percent right shares of paid up capital from the sixth annual general meeting.

The annual general meeting of the company held at Arpan banquet in Baneswor, Kathmandu has passed a special resolution to issue 17 percent right shares of the current paid-up capital with the approval of the regulatory body to reach the paid-up capital set by the Nepal Insurance Authority.

The Assembly has also approved a special proposal to amend the Articles of Association and Regulations by maintaining the corresponding paid-up capital after the capital increase. In addition to approving the annual report of the financial year 2021-22 A.D. and the auditor’s report, the assembly has also passed a resolution to appoint an auditor for the audit of the financial year 2070/80 B.S (2023-24) and fix his remuneration. The assembly elected 6 directors unopposed in the company’s board of directors. According to which, 4 people Shiksha Bhattachan, 9 representatives of Nepal Investment Pvt. Ltd., Sushan Sherchan, Midwana Aryal and Birendra Jung Pandey, 9 representatives of Jyoti Bikas Bank Ltd., and 2 people, Jyoti Sherchan, 9 representatives of Nepal Holding, and Shankar Gautam, 9 representatives of Liberty Holding, have been selected from the founder group.

The Assembly has approved Rs.10 lakh for the expenses incurred in the merger of former Prabhu Life and Mahalakshmi Life for support of the victims of the Jajarkot earthquake which was the epicenter of the earthquake.