16th AGM of Suryajyoti Life Insurance held in Biratnagar

KATHMANDU: The 16th Annual General Meeting of Surya Jyoti Life Insurance Company Limited was convened today on the 21st day of Baishakh, 2081 BS, at Hotel Harrison Palace in Biratnagar.

Mr. Keshav Prasad Bhattarai, Chair of the company’s Board of Directors, presided over the meeting.

The meeting was attended by the company’s directors, shareholders, key executives, management personnel, and other notable personalities.

The Annual General Meeting presented the financial report of the fiscal year 2079/080, along with the auditor’s report of the previous fiscal year, 2079 BS, which concluded on Poush 6, 2079 BS.

The profit/loss account, cash flow statement, along with the auditor’s report of Surya Jyoti Life Insurance Company Limited, for the fiscal year 2079/080, concluded on Poush 6, 2079 BS, were scrutinized and discussed in the meeting held on Ashad end, 2080 BS.

The Assembly has passed a resolution to appoint Mr. Sujan Kafle & Associates Chartered Accountants as auditors for the financial year 2080/081.

As per the proposal put forward by the Management Committee, the approved proposal includes the distribution of bonus shares at the rate of 10.26 percent on the paid-up capital of Rs 4,54,55,72,100, with a total amount of Rs 46,637,569,7/46, and subsequent distribution of bonus shares based on the post-distribution share structure, leading to an increase in issued capital and bonus capital, with a proposal approved to raise Rs 5,01,19,47,79/46 from a total of Rs 4,54,55,72,100 at a rate of 24.74 percent, along with the distribution of cash dividends at a rate of Rs 1,124,574,537/54 for tax purposes related to the proposed bonus shares, which was also passed by the meeting.