NIFRA Calls 8th Annual General Meeting on Ashwin 23 to Endorse Dividend, 5.2632 Percent Cash Dividend to Be Approved

Kathmandu. Nepal Infrastructure Bank (NIFRA) has called its 8th Annual General Meeting to endorse dividend. The company stated that the meeting will be held on Ashwin 23, Friday at 9 AM at Anupam Foodland and Banquet, Battisputali, Kathmandu.

The company has decided to distribute cash dividend (including tax) of NPR 1 arba 13 crore 68 lakh 51 thousand 200, which is 5.2632 percent of the current paid-up capital of NPR 21 arba 60 crore, from the distributable profit out of the accumulated profit of the last fiscal year. The meeting will approve this proposal.

The meeting will discuss and pass the following matters:

• The report of the Board of Directors for fiscal year 2082/83
• The balance sheet as of Ashadh end 2083, detailed profit and loss account, cash flow statement, statement of changes in capital, and related schedules, along with the auditor's report
• Appointment of external auditor for fiscal year 2083/84 and fixation of remuneration as per the recommendation of the bank's audit committee in accordance with Section 111 of the Companies Act 2063 and Section 63 of the Bank and Financial Institutions Act 2073
• Reappointment of the current auditor BRS Neupane & Co., Chartered Accountants, as it has completed three consecutive years of auditing the bank, in accordance with Section 111(3) of the Companies Act 2063 and Section 63(2) of the Bank and Financial Institutions Act 2073
• Approval of the appointment of Anita Rayamajhi as director representing the same group, following the resignation of director Lima Adhikari Acharya from the director position among the 2 directors elected from the ordinary shareholders group at the 7th Annual General Meeting of fiscal year 2081/82, and appointed by the decision of the 178th meeting of the Board of Directors, for the remaining tenure, among other proposals