Everest Insurance increased its authorized capital Rs. 40 billion

Kathmandu, Feb 25:  Non-life service provider Everest Insurance Company has decided to increase its authorized capital. Company’s special general meeting approved its capital increase propose later on the meeting held on Tuesday.

Similarly, the meeting has also approved increases its authorized capital 15 billion to 40 billion, and issued and paid up capital respectively.

After approved of increase issued capital Proposal Company will get 30 billion rupees but now it has 10 billion and 59 lakh rupees, company said.

Likewise, meeting also approved 1:1.5 issued shares for increasing its authorized capital based on its paid-up capital.

The president of Board of Director Mr. Surendra Silwal has issued the action plan and strategies over the meeting.

The meeting has given the executive power to the BOD for changing, amendment and adjustment of the directives by regulatory body.