Sagarmatha Merchant AGM

KATHMANDU, APR 04:

Sagarmatha Merchant Banking and Finance has held its seventh AGM. The AGM organised under the company’s chairman Saroj Rai presented the financial report of last fiscal year and appointed a new auditing firm to look into the financials of current fiscal year. The company was able to increase deposits by 16.90 per cent as compared to fiscal year 2010-11, it said, adding that its investment was up by 79.36 per cent in last fiscal year and its total deposits and loans stands at Rs 1.41 billion and Rs 1.26 billion, respectively, till March 29. The AGM elected Rabindra Bhattarai and Mao Rai as board of directors representing the general shareholders group.

Source: THT