16th January 2025, Kathmandu
NMB Laghubitta Bittiya Sanstha Limited has confirmed that it will conduct its Annual General Meeting (AGM) for the fiscal year 2023/24 by the end of April 2025.
NMB Laghubitta AGM Delayed Approval
The AGM, initially scheduled for an earlier date, has been delayed. However, the financial institution has taken all necessary steps to ensure that it will be held within the new timeframe.
External Audit Completed, Awaiting Nepal Rastra Bank’s Approval
The company has completed the external audit of its financial statements for the fiscal year 2023/24. The reports are currently under review by Nepal Rastra Bank. NMB Laghubitta Bittiya Sanstha explained that the delay in the AGM is primarily due to the ongoing approval process by Nepal’s central bank.
Cause of Delay: Pending Approval from Nepal Rastra Bank
NMB Laghubitta clarified that the AGM could not take place within the originally planned timeframe because the approval from Nepal Rastra Bank is still pending. The institution emphasized that the delay was inevitable, as it needed to comply with regulatory procedures and standards before proceeding with the meeting.
Necessary Steps Underway for Timely AGM
Despite the delay, NMB Laghubitta has reassured its stakeholders that all necessary steps for organizing the AGM are currently in progress. The company is making every effort to ensure that the meeting takes place before the end of April 2025, as planned.
NMB Laghubitta has shown confidence that the AGM will occur on time. The institution’s commitment to completing the AGM reflects its continued focus on maintaining transparency and adhering to regulatory requirements. Through this process, the company is reaffirming its dedication to good governance and accountability.
For more: NMB Laghubitta AGM Delayed Approval