Upper Tamakoshi Calls Out Postponed AGM

Jul 02, 2019 10:43 AM Merolagani

Upper Tamakoshi Hydropower Company has called out its postponed 11th AGM on July 16. The 207th AGM of the company held on June 26 decided to call the AGM in Rastriya Sabhagriha, Pradarshani Marg, Kathmandu at 11:00 AM.

Previously, the AGM was scheduled to convene on June 26, however, the meeting was postponed due to short of a quorum. As per a provision on Article of Association of the company, a quorum of at least 67 percent of ordinary shareholders is required to convene the AGM, but, only 51 percent of promoters and 56 percent of ordinary shareholders were presented for the AGM on the day.

The meeting will endorse its financial reports, appoint an auditor for the current FY, elect four directors from ordinary shareholders, approve CSR amount and amend  subsection 1 and 2 of Section 5 of its article of association.

In this regard, the company closed its book on June 4, thus, the shareholders registered in its book till June 3 will be eligible to attend the AGM.

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Government Fails to Collect Targeted Revenue; Capital Expenditure Nears 70%

Jul 16, 2019 03:53 PM

The government has failed to collect targeted revenue in the current FY. As per the Office of Auditor General (OAG), the government collected 83.66 percent revenue till July 15, a day before the closing of the current FY.