Crises ridden Arun Finance AGM on Asad 10, Trading to resume probably by Bhadra

The trading of Dharan-based Arun Finance Limited is at halt at Nepal Stock Exchange Limited (Nepse) at present. Nepal Rastra Bank had declared Dharan based Arun Finance Limited crisis-ridden, stating that the finance company is in the state of insolvency due to the  deteriorated financial situation. During September 2015, the trading of Arun Finance resumed in Nepse after its merger with Lalitpur Finance and Progressive Finance was cancelled. During that time most of the promoter shares of Arun Finance were bought by Hathway Investment Nepal Limited.” The total paid up capital of Arun Finance stands at Rs 15 crore out of which 9 crore i.e. 60% share belong to the promoter shareholders and 6 crore i.e. 40% belongs to public shareholders. Karna Bahadur Shahi, Senior Officer of Arun Finance said, we will probably be resuming trading by Shrawan-Bhadra.” We will be improving the financial condition of the institution and then we will apply in CDS and Clearing Limited for trading, he added. Arun Finance Limited (ARUN) will be convening its 19th Annual General Meeting (AGM) Ashad 10, 2073.