Nerude Mirmire Laghubitta Concludes 19th AGM Amid Shareholder Controversy Over Quorum

27th July 2026, Kathmandu

Nerude Mirmire Laghubitta Bittiya Sanstha Limited has successfully convened its 19th Annual General Meeting (AGM) following prior delays.

Nerude Mirmire 19th AGM Concluded

However, the proceedings have sparked significant debate, with a faction of dissatisfied shareholders challenging the legal validity and quorum compliance of the meeting.

The microfinance institution reported that the meeting took place at White Palace Banquet in Kaushaltar, Madhyapur Thimi-3, Bhaktapur. The assembly was chaired by Board Chairman Rajkumar Rai.

Shareholders Dispute Quorum Requirements

The institution’s initial AGM notice was postponed after failing to meet the minimum required attendance. A second meeting was subsequently reconvened.

Management asserted that the reconvened AGM strictly adhered to provisions under the Companies Act, prevailing Bank and Financial Institutions Act (BAFIA) regulations, and the company’s internal Articles of Association.

Despite these assurances, dissenting shareholders claimed that the second assembly also fell short of the mandatory quorum threshold, casting doubts over the enforceability of the decisions made during the session.

Governance Concerns And Financial Queries Raised

During the general meeting, 21 participating shareholders presented questions and suggestions regarding the company’s structural and operational challenges:

• Non-Performing Loan Management
• Addressing rising non-performing loans (NPLs) and implementing stricter credit recovery mechanisms.
• Branch Performance Improvement
• Restructuring loss-making rural branches to improve institutional profitability.
• Human Resource Oversight
• Enhancing staff management practices and workplace stability.
• Internal Conflict Resolution
• Settling long-standing board-level and operational disputes.
• Shareholder Value Creation
• Establishing a predictable timeline for regular dividend distributions and capital returns.

In response to queries, Chief Executive Officer Keshav Kumar Paudel assured attendees that the institution’s financial condition is stabilizing and promised that shareholder recommendations would be integrated into upcoming administrative decisions.

Key Resolutions Passed By The Assembly

The AGM approved five ordinary resolutions and four special resolutions.

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Key approvals granted to the Board of Directors include:

Paid-Up Capital Expansion

Authorization to increase the institution’s paid-up capital, including potential right share issuances subject to regulatory approvals.

Articles Of Association Amendments

Mandate to amend necessary legal clauses within the Memorandum and Articles of Association.

Consolidation And M&A Authority

Full authority granted to the board to explore, negotiate, and execute potential merger or acquisition (M&A) opportunities with suitable microfinance entities.

While these resolutions were officially passed, unresolved questions regarding quorum compliance and internal governance continue to weigh on investor confidence.

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