Mahalaxmi Bikas Bank (MLBL) Reschedules AGM, High Court Issues Interim Order to Halt BOD Election
Mon, Jan 10, 2022 10:33 AM on AGM/Special AGM, Latest,
Mahalaxmi Bikas Bank Limited (MLBL) has rescheduled its 20th AGM date. The AGM will now be held on 3rd Magh, 2078, in the company's head office in Durbarmarg, Kathmandu, starting at 10 am that day.
The company had previously called its 20th AGM on 25th Poush, 2078 in Tribhuvan Army Officers Club, Tundikhel, Kathmandu. The meeting was postponed since it was not attended by the minimum required number of attendees.
Among other agendas, the AGM will endorse a 21.0526% dividend for the fiscal year 2077/78. The meeting of the board of directors held on Mangsir 12 decided to distribute the dividend on the paid-up capital of Rs. 3.34 Arba. 20% bonus shares worth Rs 66.84 crores and 1.0526% cash dividend (including tax) worth Rs 51.83 lakhs have been proposed.
The AGM was supposed to also elect 3 board members from the promoters and 3 from the public shareholders. However, the High Court Patan, in response to a writ filed, has issued an interim order for the time being to halt the election. The writ was filed by shareholders Giriraj Pokhrel and Pramod Shrestha. The court has given 15 days to the bank to submit a written response.
There is also an agenda to endorse the decision of raising the company's existing authorized capital from Rs. 4 Arba to Rs. 8 Arba.
Poush 13 was the book closure date. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.
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