Bonus and Right Shares of United Insurance Get Postponed after IB Direction

Aug 30, 2017 Merolagani

The 10 percent bonus distribution and 100 percent right issuance of United Insurance (UIC) have been postponed after a direction of Insurance Board (IB).

The board directed the company to submit a modified financial report of the last FY. "Due to the IB direction, the previous proposal has been postponed till next decision," said Shekhar Baral, CEO of the company.

Presently, the company has paid-up capital of Rs 302.4 million.

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