Nerude Mirmire Laghubitta Financial Institution Limited successfully concluded its 19th Annual General Meeting, where several key proposals were unanimously passed.
Nerude Mirmire Laghubitta Financial Institution Limited successfully held its 19th Annual General Meeting (AGM) at the White Palace Banquet in Kaushaltar, Madhyapur Thimi-3, Bhaktapur. The meeting were chaired by Mr. Rajkumar Rai, who is the Chairman of the institution’s Board of Directors.
Initially, an AGM was called for Asar 32 (B.S.), but it had to be postponed because there weren’t enough shareholders present to meet the quorum. Following a decision by the Board of Directors, the meeting was then rescheduled and conducted in line with the Company Act, prevailing laws related to banks and financial institutions, and the institution’s own Articles of Association and Bylaws.
During the assembly, Chairman Rai presented the annual report for the fiscal year 2081/82. He shared important updates regarding the institution’s financial improvements, good governance practices, risk management strategies, and how they are working to reduce non-performing loans. He also discussed future plans.
A total of 21 shareholders present at the meeting gives suggestions on various important topics. Their input included managing non-performing loans better, improving branches that are losing money, handling human resources, resolving internal disagreements, holding AGMs on time, and ensuring regular returns for investors.
Responding to the questions and suggestions from the shareholders, Mr. Keshav Kumar Paudel, the Chief Executive Officer, mentioned that the institution’s business condition is steadily getting better. He also assured everyone that the valuable feedback received will be incorporated into the upcoming action plans.
The assembly unanimously approved all five general proposals and all four special proposals. Among the special proposals passed were plans to increase capital after receiving regulatory approval, amend the Articles of Association and Bylaws, and authorize the Board of Directors to proceed with mergers or acquisitions with other similar microfinance institutions if necessary.
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