IDBL’s rights shares

KATHMANDU: Infrastructure Development Bank Ltd (IDBL) held a special general meeting today and decided to issue rights shares worth Rs 240 million in the ratio of 1:3 for its shareholders. The rights shares are being floated to raise the bank’s paid-up capital to Rs 320 million, says a bank press release today. The meeting held under chairmanship of IDBL chairman Khemnath Dallakoti also nominated Priya Raj Regmi and Bikash Babu Baniya to the board of directors representing general shareholders. The bank has posted operating profit of Rs 35 million during the first 10 months of the current fiscal year. —HNS

Joshi Bangkok bound

KATHMANDU: FNCCI president Kush Kumar Joshi left for Bangkok yesterday to participate in Asia-Pacific regional meeting of Non-Resident Nepalis (NRN) being held in Thai capital from May 23 to 26. Joshi is scheduled to address the meeting of NRNs residing the region about current state of national economy and private sector’s cavities, states a FNCCI press release issued here today. Joshi will also participate in a meeting cum observation tour on Thai ‘one-village: one product’ being held on May 27-28 in Bangkok. — HNS

Contraband seized

BHAIRAHAWA: Custom Revenue Patrol team of Armed Police Force, Bhiarahawa confiscated a large amount of chemical fertiliser and cement, illegally imported from India. The team seized 111 sacks of cement worth Rs 44,000 from Rampuruwa-5, Nawalparasi and 53 sacks of chemical fertiliser worth Rs 26,500. — RSS