8th April 2025, Kathmandu
Capital Merchant Banking and Finance Limited has conducted 13 consecutive annual general meetings (AGMs) at once. The meetings covered fiscal years 2067/68 to 2079/80. Chairman Tilak Bahadur Ranabhat presided over the joint session.
Capital Merchant Banking AGM
Background of the Delay
In 2069 B.S., Nepal Rastra Bank declared the company a problematic institution. It halted regular banking activities. As a result, the company could not hold AGMs for over a decade. During this period, Capital Merchant Banking focused on improving its financial health.
After completing pending audits and receiving NRB’s approval, the company organized its long-overdue AGMs.
Major Decisions Approved
The AGMs approved several key proposals. These included the endorsement of financial reports from all 13 years. The meeting also approved the appointment of external auditors.
In addition, shareholders passed proposals related to:
Changes in the Board of Directors
Approval of operational activities
Loan recovery plans
A proposal to change the company’s name
Permission for future mergers or acquisitions
All decisions were passed unanimously.
New Leadership Team
The company also held board elections in line with its internal rules. From the group of founder shareholders, Tilak Bahadur Ranabhat, Jagat Raj Khanal, and Ranjan Rayamajhi were elected unopposed. General shareholders elected Nirmal Dahal and Mohan Khadka without contest. Rajeshwor Shrestha remains the company’s independent director.
CEO Outlines Company Strategy
Chief Executive Officer Pradeep Bhattarai addressed the meeting. He shared a detailed report on past activities and the current financial condition. He noted that the company has made progress in restructuring its operations and improving governance.
Mr. Bhattarai explained that the next step is to apply to Nepal Rastra Bank for release from its “problematic institution” status. He said the company plans to resume full banking services soon. He added that future strategies include better risk management, stronger internal control, and better customer service.
Road to Recovery
This joint AGM marks a major step in the company’s comeback. The management has shown commitment to transparency and institutional reforms. Shareholders expressed hope that the company will regain its position in Nepal’s financial sector.
With a fresh leadership team and a recovery plan, Capital Merchant Banking aims to restore investor confidence. It now looks forward to expanding its operations under proper regulatory compliance.
For more: Capital Merchant Banking AGM