Merger Agreement Between Naya Sarathi Laghubitta and Vijaya Laghubitta Finalised; Joint Transaction to Begin from Ashad 31
Tue, Jul 11, 2023 11:10 AM on Latest, Merger/Acquistion,
Naya Sarathi Laghubitta Bittiya Sanstha Limited (NSLB) and Vijaya Laghubitta Bittiya Sanstha Limited (VLBS), a licensed financial institution of the "D" category from Nepal Rastra Bank have completed the final merger procedure.
According to the special resolution passed by the AGMs of both companies held separately on 28th Chaitra, 2079 endorsed the swap ratio of 1:1. Likewise, in accordance with the letter from the NRB, SEBON, and the Office of the Registrar of Companies, the merger has also gained final permission.
"Vijaya Laghubitta Bittiya Sanstha Limited" has been agreed upon as the name of the new company that will be formed as a result of the merger and the integrated business will be carried out from 31st Ashad, 2080. The companies signed the Memorandum of Understanding (MoU) on 26th Mangsir, 2079.
The current paid-up capital of VLBS is Rs. 38.4 Crores and that of NSLB is Rs. 36.1 Crores. The total paid-up capital will reach Rs. 74.5 Crores after the merger.
