Milestone Moments: Highlights from the 7th Annual General Meeting of Sabaiko Laghubitta Bittiya Sanstha Limited

Sun, Mar 3, 2024 1:42 PM on Latest, Corporate,

The 7th Annual General Meeting of the Sabaiko Laghubitta Bittiya Sanstha Limited (SABSL), based in Bandipur-1 Dumre, Tanahun District, took place at the Marsyangdi River View Resort in Bandipur-5 Yampa Phant, Tanahun District.

Chaired by Mr. Narayan Prasad Joshi, the institution's chairman, the meeting was led by Mr. Keshav Kumar Paudel, the CEO, and company secretary. Mr. Pawan Kumar Shrestha, Deputy General Manager, welcomed attendees. Shareholders expressed their opinions and suggestions during the meeting, following the chairman's report. Mr. Pradeep Sigdel (Sharma), a director, delivered a vote of thanks.

The institution, registered with the Ministry of Industry, Government of Nepal, marked its 7th year of service. The unanimous approval of the 2079.80 annual report, balance sheet, auditor's report, profit and loss account, and cash flow statement occurred. Shrestha & Neupane Associate Chartered Accountants were appointed auditors as recommended by the audit committee.

Special proposals related to the merger of Sabaiko Laghubitta Bittiya Sanstha Limited and Sadhana Laghubitta Bittiya Sanstha Limited were unanimously passed, including amendments to the articles of association and an increase in authorized capital to Rs. 90 crores.

The financial institution, providing services to 75,524 households in 43 districts, reported achievements of Rs. 4 Arba 11 crore 93 lakh 4 thousand 897 in loans and Rs. 1 Arba 19 crore 51 lakh 12 thousand 306 in savings and deposits by Magh 2080.