Who are ineligible to apply for auction shares of Bank of Kathmandu? (Including Documents required while submitting an application)

Mon, Nov 27, 2017 10:06 AM on Latest, Exclusive, Featured, Stock Market,

-ShareSansar

Bank of Kathmandu Limited (BOKL) has published a notice regarding auction of 61.58 lakh unit promoter shares at Rs 100 & above today. The auction will be open from Mangsir 22 to Mangsir 29, 2074. Although the auction is open for general public, there are certain limitations as to who can apply which make them ineligible. Following are the main limitations for the applicants who are not eligible to participate in the auction:

Those who are blacklisted by Credit Information Bureau, or have been unfreezed from the blacklist in the last 3 years.
Those who have been appointed as internal or external auditors of the bank.
Those who are in the position of Legal and Advisory committee of the bank.
Those who are involved in any lease/contracting agreement with the bank.
Those who have not cleared tax for FY 2072/73 or who have not continued their Permanent Account Number (PAN).
Those who are convicted as fraudulent by the court.
Those who are securities brokers, market makers or cooperatives.
Those who have taken loans or financial liabilities from the bank.
Those firms or companies that have had negative reserve in the past 2 years.
Those who have not fulfilled conditions and duration as mentioned in Section 9 and 11 of Bank and Financial Institutions Act 2073.
Those who have not paid or cleared all the sum of requested shares as issued by the BFIs.
Those who do not have Bachelor's Degree (only applicable in case after the auction, one-third of promoters do not hold Bachelor's Degree)
Those who do not meet the conditions to be promoter of BFIs as required by the Nepal Rastra Bank (NRB).
Those who have not submitted applications as required by NRB and who are declared ineligible by the present law.
Those who do not submit income tax source (also salary certificate can be submitted)
Those who do not fill Fit & Proper Test form properly as prescribed by the NRB. (Fit & Proper Test form will be provided with the application form)