Kathmandu. CYC Nepal Laghubitta Bittiya Sanstha Limited (CYC) has concluded its seventh annual general meeting. The 7th Annual General Meeting (AGM) was held on August 13, 2083 at the meeting hall of Deep Sagar Hotel Restaurant and Bar Pvt. Ltd., New Road, Pokhara.
The AGM was presided over by the Board of Directors of the organization, Prof. Dr. The program was hosted by Chief Executive Officer and Company Secretary Radheshyam Shrestha. Mr. Laxman Khadka Chhetri gave the welcome speech and Mr. Rajendra Regmi, the proprietor of the program, thanked the participants. Chief Manager of the organization and Chairman of Four Star Youth Clubs (CYC), Nepal, Mr. Chandi Prasad Sharma was the chief guest. The AGM approved the report of FY 2081/82 presented by the Chairman of the Board of Directors and the audit report of FY 2081/82.
In addition, the meeting approved the appointment of auditors, allowances and expenses of the Board of Directors and other sub-committees, as well as the appointment of Directors appointed by the Board of Directors. General and special resolutions, including authorizing the Board of Directors to carry out all necessary activities for the purpose of merger, merger, acquisition or acquisition of suitable microfinance financial institutions, have been unanimously adopted. Currently, the NGO has been providing its services through 124 branches across 77 districts of the country. The organization has 126,282 members and 42,235 borrower members. The loan invested by the organization is Rs. Rs. 6.78 billion and deposit mobilization Rs. According to the organization, it has 2 billion 98 million 40 lakh 45 thousand. The AGM was attended by shareholders Kedar Kafle, Naresh KC, Indra Raj Poudel, Nagendra Sharma, Somnath Dhungana, Sher Bahadur KC, Dolraj Dhungana, Dipen Thapa, Bidya Shrestha, Ananda Raj Silwal, among others.
Radheshyam Shrestha, General Director Suman Gharti Chhetri and Independent Director Dilip Poudel presented solutions to the suggestions and queries received from the shareholders. On the occasion, commitment was expressed on the issues of institutional reforms, good governance and future course of action and the investors were committed to move ahead by accommodating all without allowing any misunderstanding among the investors to join the institution through merger and acquisition.
Company Secretary and Chief Executive Officer Radheshyam Shrestha said that the company has also expressed its commitment to make the service and performance of the company more effective by addressing the suggestions and complaints received from the shareholders and implementing the directives received from Nepal Rastra Bank in letter and spirit.
