Mahalaxmi Bikas Bank finally convenes its 20th AGM; endorses 21.05% dividend to its shareholders with election of new board

Mahalaxmi Bikas Bank has finally convened its 20^th AGM for the FY 2077-78 on Falgun 13, 2078 under the leadership of its chairman Mr. Rajesh Upadhyay.

Apart from the regular financial reports, The AGM has endorsed the board’s proposal to provide 20% bonus shares and 1.0526% cash dividend for taxation purposes to its shareholders from the profit it had made in the previous fiscal year.

The AGM has also elected Mr. Rajesh Upadhya, Mr. Sanjay Giri, and Mr. Dipak Kumar Rauniyar as directors from the promoter group while Mr. Shyam Sundar Rungat, Mr. Rahul Agrawal, and Mr. Rupendra Paudel as directors from the public shareholder group, while the new board has reappointed Mr. Rajesh Upadhya as the chairman of the bank for a new term, as per the media statement.

Earlier, the AGM of the bank couldn’t take place because of less participation of its shareholders and because of the stay order of the high court.