;ftf}+} jflif {s ;fwf/0f ;ef ;djlgw ; rgf - lic nepal/cite> · annual

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf]

;ftf}+}+ jflif{s ;fwf/0f ;ef ;DjlGw ;"rgf

z]o/wgL dxfg'efjx?,

;+rfns ;ldltsf] lg0f{o adf]lhd o; sDkgLsf] ;ftf}+ jflif{s ;fwf/0f ;ef lgDg lnlvt ldlt, :yfg / ;dodf lgDg k|:tfj pk/

5nkmn ug{ a:g] ePsf] x'“bf ;a} z]o/wgL dxfg'efjx?sf] hfgsf/Lsf] nflu of] ;"rgf k|sflzt ul/Psf] 5 .

ldlt, :yfg / ;do M

ldlt M @)^% ;fn r}q # ut], ;f]daf/ -tb\g';f/ !^ dfr{, @))(_

:yfg M /fli6«o ;ef u[x, k|bz{gL dfu{, sf7df08f} .

;do M laxfg )(M)) ah]

5nkmnsf] ljifo ;"rL

!= ;+rfns ;ldltsf] tk{maf6 k|ltj]bg .

@= n]vfk/LIfssf] k|ltj]bg ;lxtsf] @)^% ;fn cfiff9 d;fGtsf] jf;nft, @)^$÷$÷! b]lv @)^%÷#÷#! ;Ddsf] cfo–Joosf]

lx;fa / ;f]xL cjlwsf] gub k|jfx ljj/0f 5nkmn u/L kfl/t ug]{ -;+nUg_ .

#= n]vf kl/If0f ;ldltsf] l;kmfl/; adf]lhd cf= j= @)^%÷^^ sf] nflu n]vfk/LIfssf] lgo'Qm ug]{ / lghsf] kfl/>lds tf]Sg] .

$= ;+rfns ;ldltaf6 k|:tfljt gub nfef+; kfl/t ug{] .

%= ljljw .

;+rfns ;ldltsf] cf1fn],

sDkgL ;lrj

- 1 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

;fwf/0f ;ef ;DjlGw ;fdfGo hfgsf/L

!= ;efdf efu lng OR5's z]o/wgL dxfg'efjx?nfO{ ;ef x'g] lbg z]o/ k|df0f–kq jf klqsfdf k|sflzt k|j]z–kq ;fydf lnO{

cfpg' x'g c'g/f]w 5 . ;f] b'j} k|fKt ug'{ePsf] 5}g eg] cfÇgf] kl/ro–kq ;fydf lnO{ cfpg' x'g cg'/f]w ul/G5 .

@= ;efdf efu lngsf nflu k|ltlglw -k|f]S;L_ lgo'Qm ug{ rfxg] z]o/wgLn] k|ltlgwL kq -k|f]S;L kmf/fd_ e/L ;ef z'? x'g'eGbf $*

306f cufj} cyf{t\ ldlt @)^%÷!@÷)! ut] !)M)) ah]leq sDkgLsf] z]o/ zfvf, sf7df08f} Knfhf, sdnfbL, sf7df8f}+df

btf{ u/fO;Sg' kg]{5 .

#= gfafns jf ljlIfKt z]o/wgLsf] tk{maf6 sDkgLsf] z]o/ nut lstfadf ;+/Ifssf] ?kdf gfd btf{ ePsf] JolQmn] ;efdf efu

lng jf k|ltlglw tf]Sg kfpg] 5g\ .

$= ;+o'Qm ?kdf z]o/ vl/b ul/Psf] cj:yfdf nut lstfadf klxn] gfd pNn]v ePsf] JolQm cyjf ;j{;Ddtaf6 k|ltlglw lgo'Qm

ul/Psf] Ps JolQmn] dfq ;efdf efu lng / dtbfg ug{ kfpg] 5g\ .

%= s'g} Ps z]o/wgLn] PseGbf a9L JolQmnfO{ k|ltlglw lgo'lQm u/]sf] /x]5 eg] ab/ u/]sf] cj:yfdf afx]s / k|ltlgwL lgo'Qm

ul/;Sg' ePsf] z]o/wgL cfkm}+ pkl:yt ePdf To:tf k|ltlglw kq :jtM vf/]h x'g]5 .

^= 5nkmnsf] ljifodWo] ljljw zLif{s cGtu{t 5nkmn ug{ OR5's z]o/wgLx?n] ;ef x'g'eGbf & lbg cufj} 5nkmnsf] ljifo sDkgL

;lrj dfk{mt\ lnlvt ?kdf ;+rfns ;ldltsf] cWoIfnfO{ hfgsf/L lbg'kg]{ 5 .

&= z]o/wgLx?n] JoQm u/]sf] dGtJo jf k|Zgx?sf ;DjGwdf ;+rfns ;ldltsf tk{maf6 ;fd"lxs ?kn] pQ/ lbOg] 5 .

*= sDkgLsf] z]o/ bflvn vf/]hsf] sfd @)^%÷!!÷!* b]lv @)^%÷!@÷# ut];Dd aGb /x'g] 5 .

(= ;'/Iffsf] b[li6sf]0fn] z]o/wgL dxfg'efjx? ;ef:yndf cfp“bf emf]nf -Aofu_ h:tf j:t'x? glnO{ cfpg' x'g cg'/f]w ul/G5 .

cfjZos b]lvPdf ;'/IffsdL{n] ;'/Iff hf“r ug{;Sg] ePsf] x'“bf ;f] sfo{df ;xof]u ul/lbg' x'g ;d]t cg'/f]w ul/G5 .

7 ttttth

Annual RAnnual RAnnual RAnnual RAnnual Reporteporteporteporteport

- 2 -

Ladies and Gentlemen,

On behalf of the Board of Directors of LIC (Nepal) Ltd, I takepleasure in welcoming you all to the 7th Annual GeneralMeeting of our Company. I convey to you greetings from theentire LIC family.

Assuming that you have all gone through the AuditedFinancial Results of the Company as at the end of Ashad,2065, let me now present before you the report of the Boardof the Directors for the fiscal year 2064-65. This is incompliance with the provisions of Section 109 of the Companyact of 2063.

cfb/0fLo z]o/wgL dxfg'efjx?,

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf] ;ftf}+ jflif{s;fwf/0f ;efdf ;+rfns ;ldltsf] tkm{af6 oxf“x?nfO{ :jfutug{ kfp“bf dnfO{ cToGt} v'zL nfu]sf] 5 . ;Dk"0f{ Pn=cfO=;L=kl/jf/sf] tk{maf6 oxf“x?nfO{ xflb{s :jfut ub{5' .

z]o/wgL dxfg'efjx?n] sDkgLsf] n]vfk/LIf0f ePsf] ljQLoljj/0fx?sf] cjnf]sg ug'{ ePs} xf]nf eGg] ljZjf;sf ;fy doxf“x? ;dIf cfly{s jif{ @)^$÷^% sf] ;+rfns ;ldltsf]k|ltj]bg, sDkgL P]g, @)^# sf] bkmf !)( adf]lhd x'g] u/L k]zug{ rfxG5' .

- 3 -

cWoIfåf/fk|:t't

k|ltj]bg

Chairman'sReport

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

New Business performance of the Company

2064-65 2063-64 Growth rate

Number of policies 27975 29139 -4.0%

First Premium Income(Rs. in crores) 19.23 19.31 -0.4%

The performance of the Company has suffered dueto uncertainty in the prevalent environment duringthis year. However, there has been a marginaldegrowth in spite of focused attention on marketingparticularly at the last quarter.

Current year performance (As at the end ofPoush )

2065-66 2064-65 Growth rate

Number of policies 14442 11419 26.5%

First Premium Income(Rs. in Lakhs) 1132.30 761.37 48.7%

It may be observed that there has been a healthy growth inbusiness for the company, in both number of policies andFirst Premium Income in the current year. The Company isstriving to push the growth rates further, and we expect thatthe performance will be better if the situation remainsfavourable.

Personal and Industrial Relations

There were 63 employees working at various levels in thecompany in the last Fiscal Year. During the course of theyear as many as 6 of them left the company for variousreasons, and they have been replaced with new recruits.The employees are guided by top executives of the companywho are easily accessible to the staff members at any time.Various training programmes are held to enhance their skillsand groom them for higher responsibilities.

Changes in Board of Directors

gof“ Jofkfl/s pknlAwx?

ljj/0f @)^$÷^% @)^#÷^$ a[lbb/ % df

aLdfn]v ;+Vof @&(&% @(!#( -$=))%

k|yd aLdfz'Ns cfo !(=@# !(=#! -)=$%

-?= s/f]8df_

o; jif{df b]zdf ljBdfg clglZrttfsf] jftfj/0fsf]

sf/0f sDkgLsf] pknlAw klg k|efljt ag]sf] 5 .

oBkL clGtd q}dfl;sdf ahf/ Joj:yfdf ljz]if Wofg

k'/\ofO{Psf] sf/0f gsf/fTds ;"rsdf ;'wf/ ePsf]

lyof] .

rfn' jif{sf] pknlAw -@)^% kf}if d;fGt;Ddsf]_

ljj/0f @)^%÷^^ @)^$÷^% a[lbb/ % df

aLdfn]v ;+Vof !$$$@ !!$!( @^=%)%

k|yd aLdfz'Ns cfo !!#@=#) &^!=#& $*=&)%

-?= nfvdf_

dflysf] cf+s8fn] o; cf= j= sf] k|yd ^ dlxgfdf aLdfn]v tyf

k|yd aLdfz'Ns cfo b'a}df /fd|f] a[l4 ePsf] k|:6ofp“5 . xfdL

a[l4b/nfO{ cem dfly psf:g s8f d]xgt ul//x]sf 5f}+ / cfzfjfbL

5f}+ ls cf= j= sf] cGt;Dddf /fd|f] pknlAw xfl;n ug{] 5f}+ .

AolQmut tyf cf}Bf]lus ;DjGw

uPsf] cfly{s aif{df sDkgLdf ̂ # hgf sd{rf/Lx? laleGg txdf

sfo{/t /x]sf lyP . o;} aif{sf] cGt;Dddf tL dWo] ^ hgfn]

ljleGg sf/0f hgfO{ /flhgfdf lbP / xfn ;f] :yfgdf gof“ egf{

lnO{ ;s]sf 5f}+ . ;Dk"0f{ sd{rf/Lx? sDkgLsf] pRr sfo{sf/Laf6

lgb]{lzt / lgolGqt 5g\ . sDkgLdf laBdfg ;f}xfb{k'0f{ jftfj/0fsf

sf/0f pRr txsf sfo{sf/L;“u ;a} sd{rf/L 3'nldn ug{ ;Sg]

;xh jftfj/0f df}h'b /x]sf] 5 . sd{rf/Lx?nfO{ ;Ifd agfpg

tyf k|efjsf/Ltf a9fpgsf] ;fy} pRrt/ bfloTj axg ug{ ;Sg]

agfpgsf nflu lg/Gt/ ?kdf ljleGg tflnd k|bfg ul/b} cfPsf]

5 .

- 4 -

There has been no changes in the Board of Directors afterthe 6th Annual General Meeting.

Factors affecting our business

There has been heightened business activity in the company;with several ongoing training activities for field personnelwhich has helped in containing the deficit in New Businessduring this year, in the face of a difficult market scenario.

In order to bring more value to our policyholders andshareholders the investment opportunities in the financialmarket were encashed. Cost of operations as reflected inoverall cost ratio have shown a negartive growth consecutivelyfor the second year, and all efforts are being made to bring itdown without affecting our business so that more surpluswould accrue.

Auditors Report

The opinion of the Auditors that the accounts and records ofthe company have been maintained in accordance with thelaw of land, is appended to the Annual Report, and I am sureyou would all have gone through the same. This report of theauditors gives us ample confidence that we are working in aprofessional manner.

Shares forfeited

Since the inception of the company we have not forfeitedany shares belonging to anyone.

Life Fund

As at the end of Ashad 2065, the life fund of the companystood at 249.23 crores as against 168.89 crores at the endof Ashad 2064. This means the Life fund grew at the rate of47.57%.

Investments

The total investments of the Company (including policy loansand short term investments) as at the end of Ashad 2065stood at Rs. 287.72 crores as against Rs. 210.91 as atAshad 2064. This shows an increase of 22.19% and has

;+rfns ;ldlt

5}7f}+ aflif{s ;fwf/0f ;ef kZrft\ ;+rfns ;ldltdf s'g} klgkl/jt{g ePsf] 5}g .

sf/f]af/nfO{ c;/ kfg]{ tTjx?

o; jif{ xfdLn] ahf/;“u ;DjlGwt JolQmx?, Ph]G;L d]g]h/, ahf/k|ltlgwL tyf sd{rf/Lx?nfO{ Joj;flos lqmofsnfk ;DjlGw ljleGgtflndx? cfof]hgf u/]sf lyof}+ . o:tf] tflnd k|flKt kZrft\cfPsf] kl/jt{gn] g} Aoj;fo a[lå tyf To;af6 cfo a[lå ug{dfe'ldsf v]n]sf] 5 .

cfkm\gf] aLdfn]vwf/s tyf z]o/xf]N8/x?nfO{ clwstd nfex'g] lsl;dn] sf]ifnfO{ laQ ahf/df pko'Qm nufgL ug{]cj;/x?nfO{ plrt ;b'kof]u u/]sf 5f}+ . Joj;fo ;+rfngsf] vr{qmdzM bf];|f] jif{ klg 36\bf] 5 / sDkgLsf] Joj;fodf k|lts'nk|efj gkg{] tj/n] Joj:yfklso vr{nfO{ Go'gLs/0f ub{} sDkgLsf]d'gfkmfnfO{ a[l4 ug{ xfd|f] x/ ;Dej k|of; lg/Gt/ 5 .

n]vfkl/Ifssf] k|ltj]bg

oxf“n] n]vfkl/Ifssf] k|ltj]bg cWoog ug'{ ePsf] xf]nf pxf+“sf]k|ltj]bg cg';f/ sDkgLsf] lx;fa lstfa k|rlnt sfg'g / k|rngcg';f/ 7Ls;+“u /fv]sf] hfgsf/L u/fpg kfp“bf xfdLn] k]zfutPj+ r':t tl/sfaf6 sfd u/]sf] :ki6 x'g'sf ;fy} To;n] xfdLnfO{cem a9L cfTdlaZjf; / xf};nf k|bfg u/]sf] 5 .

z]o/sf] hkmt

sDkgLsf] z'?jftb]lv xfn;Dd s'g} klg z]o/wgLsf] z]o/ sDkgLn]hkmt u/]sf] 5}g .

hLjg aLdf sf]if

ldlt @)^$ cfiff9 d;fGt;Dddf hLjg aLdf sf]if !^*=*(s/f]8 /x]sf]df $&=%&% n] a[l¢ eO{ ldlt @)^% cfiff9d;fGt;Dddf hLjg aLdf sf]if ?= @$(=@# s/f]8 /x]sf] 5 .

nufgL

ldlt @)^$ cfiff9 d;fGt;Dddf s'n nufgL ?= @!)=(! s/f]8

/x]sf]df ldlt @)^% cfiff9 d;fGt;Dddf s'n nufgL -aLdfn]v

- 5 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

been done strictly as per guidelines and rules existing inthe county to that effect, as well as, as per directions of theBoard of Directors and the Regulator (Beema Samiti) fromtime to time. The investments have been made in Govt.Bonds, Development Bonds of Nepal Rastra Bank, NepalInvestment Bank Ltd., Fixed Deposits with variouscommercial Banks, development Banks, FinanceCompanies, Citizen's Investment Trust, and in Preferenceshares and Debentures of Banks and reputed companies. Itis our endeavour to invest our available surplus in a prudentmanner keeping the safety of funds uppermost in our mindbut without losing sight of higher returns.

Information received from Shareholders

With our functioning being open and transparent, suggestionsfrom honourable shareholders are always welcome. Wewould be delighted to receive suggestions from yourgoodselves, for furthering growth of the company, and woulddefinitely give due consideration to these.

Share purchased by Directors

During the financial year 2064-65, no shares of the Companyhave been purchased by either directors or officers of thecompany and they have not been involved in any transactionsrelated thereto.

Financial Transactions by Directors

During the fiscal year 2064-65, the Company has not enteredinto any financial transactions with either any of the Directorsof the Company or their relatives in any manner whateverexcept payment of salaries to the CEO who is also aDirector.

Shares purchased by the Company

The company has not brought back any of its own shares inany manner.

Internal Control System

shf{ tyf 5f]6f] cjlwsf] nufgL ul/_ ?= @*&=&@ s/f]8 /x]sf]5 . o; cg';f/ o; aif{ @@=!(% n] a[lå ePsf] 5 / ;Dk"0f{nufgLx? ;+rfns ;ldltsf] lgb]{zg Pj+ ;do ;dodf k|sflztx'g] aLdf ;ldltsf] nufgL ;DjlGw gLlt lgodsf] clwgdf /xLu/]sf] 5 . sDkgLn] g]kfn ;/sf/sf] C0fkq, g]kfn /fi6« a}+s,g]kfn OGe]i6d]G6 a}+ssf] ljsfz C0fkqx?, afl0fHo a}+s, lasfza}+s, laQLo ;+:yfx?sf] d'2tL vftfx?, gful/s nufgL sf]if tyfa}+ssf] lk|km/]Gz z]o/x?df nufgL u/]sf] 5 . sDkgLn] pknAwhu]8f /sdnfO{ nufgL ubf{ laj]sk"0f{ 9+un] pRrtd k|ltkmnlbg] l;Sof]l/l6hx?df nufgL u/]sf] 5 .

z]o/xf]N8/x?af6 k|fKt hfgsf/L

z]o/xf]N8/ dxfg'efjx?af6 k|fKt x'g] ;'emfjnfO{ sDkgL ;b}j:jfut ub{5 . z]o/xf]N8/x?af6 k|fKt plrt ;'emfjx?nfO{ sDkgLsf]a[lt ljsfzdf of]ubfg k'/\ofpgsf] lglDt cjnDag ug]{ tkm{ xfd|f]k|oTg xd]zf /xg] 5 .

;+rfnsx?åf/f z]o/sf] sf/f]af/

cfly{s aif{ @)^$÷)^% df o; sDkgLsf] ;~rfns tyfkbflwsf/Lx?åf/f s'g} klg z]o/ vl/b gul/Psf] tyf z]o/sf/f]af/df lghx? ;+nUg /x]sf] 5}g .

;+rfnsx?åf/f ljQLo sf/f]af/

cfly{s aif{ @)^$÷)^% df k|d'v sfo{sf/L clws[t hf] ;+rfns;d]t /xg' ePsf] 5 jxf“nfO{ kfl/>lds lbOPsf] afx]s sDkgL;“u;DalGwt ljQLo sf/f]af/df s'g} ;~rfns / lghsf] gft]bf/sf]s'g} ;+nUgtf /x]sf] 5}g .

sDkgLåf/f z]o/sf] vl/b

cfly{s aif{ @)^$÷)^% df sDkgLåf/f s'g} klg cfkm\gf] z]o/sf]vl/b u/]sf] 5}g .

cfGtl/s lgoGq0f k|0ffnL

sDkgLn] x/]s If]qnfO{ cfGtl/s lgoGq0f k|0ffnL cGtu{t /fvLsfd ub}{ cfPsf] 5 , h'g tYosf] k'li6 n]vf kl/Ifssf] k|ltj]bgaf6kfpg ;lsG5 . olx cfly{s aif{b]lv cfGtl/s n]vf kl/If0f ;d]tz'? ul/Psf] 5 .

- 6 -

The Company has all the internal control systems in placeand this is also reflected in the audit reports. From this fiscalyear, the practice of internal audit also has started in theCompany.

Management Expenses

Though the act permits us to have 30% of premium incomeas Management expenses, the Management expenses ofthe Company has been consistently coming down. From8.17% in 2062-63, we have been able to come down to 5.98%as at the end of 2064-65, as can be seen from the AnnualReport. Our efforts will continue to keep managementexpenses at the least possible level in future also.

Audit Committee

The Company's Audit Committee constitutes of our DirectorsShri A.K. Dasgupta, Shri Ashok Agrawal and Shri RajendraAryal. No payment has been made to them for their beingmembers of the Audit Committee.

Transactions with other Company

The Company has not entered into any financial transactionswith any company where any of our Directors has financialinterest.

Payment to Directors and other Executives

A total of Rs. 44,87,724/- lakhs have been paid to Directors,CEO and other executives of the company as per laid downrules.

Purchase of Property

No property has been purchased or sold by the Companyas per Section 141 of the Companies Act 2063.

Transactions between companies

The company has no subsidiaries to enter into transactionwith them as per Section 175 of Companies Act 2063.

Any other matter to be disclosed

Aoj:yfkg vr{

;DalGwt P]gsf] k|fjwfg adf]lhd sDkgLnfO{ aLdfz'Ns cfosf]#)% ;Dd vr{ ug{ ;lsg] Aoj:yf ePtfklg sDkgLn] ug]{Aoj:yfksLo vr{ lg/Gt/ 36\bf] qmddf /x]sf] 5 . cf= j= @)^@÷)^#df *=!&% vr{ /x]sf]df cf= j= @)^$÷)^% sf] cGt;Dddf%=(*% df emfg{ ;kmn ePsf 5f} . ;fy} cfufdL lbgdf ;f] eGbfklg sd Aoj:yfkg vr{ ug]{ tkm{ xfdL k|of;/t 5f}+ .

n]vf ;ldlt

o; sDkgLn] n]vf ;ldltsf] Aoj:yf u/]sf] 5 . h; cGtu{t;+rfns >L P= s]= bf; u'Ktf, >L czf]s cu|jfn tyf /fh]Gb|cof{n /xg' ePsf 5g\ . n]vf ;ldltsf] ;b:ox?nfO{ xfn;Dd;b:otf ;DalGw s'g} e'QmfgL ul/Psf] 5}g .

cGo sDkgL;“usf] sf/f]af/

sDkgLsf] ;+rfnsx?sf] ljQLo :jfy{ ePsf] cGo sDkgL;“u o;sDkgLsf]]] ljQLo sf/f]af/ ;DalGw ;+nUgtf /x]sf] 5}g .

;+rfns tyf kbflwsf/Lx?nfO{ ul/Psf] e'QmfgL

sDkgLsf] lgodfg';f/ o; cf= j= df sDkgLsf] ;+rfns, k|d'vsfo {sf/L clws[t tyf cGo kbflwsf/Lx?nfO { hDdf?= $$,*&,&@$÷– e'QmfgL ul/Psf] 5 .

;Dklt vl/b

sDkgL P]g, @)^# sf] bkmf !$! adf]lhd sDkgLn] s'g} klg;Dklt vl/b jf laqmL u/]sf] 5}g .

sDkgLx? larsf] sf/f]af/

sDkgL P]g, @)^# sf] bkmf !&% cfslif{t x'g] ul/ cGo s'g}sDkgL;“u sf/f]af/ u/]sf] 5}g .

cGo v'nfpg' kg]{ s'/fx?

k|rlnt P]g tyf sfg'g adf]lhd sDkgLsf] cGo s'g} s'/f v'nfpg'kg]{ b]lvb}g .

aLdfsf]ifsf] d"Nof°g

aLdf P]g @)$( [1992] sf] bkmf @^ adf]lhd hLjg aLdf sDkgLn]k|To]s tLg jif{df cfkm\gf] sf]ifsf] aLdf+sLaf6 d'Nof°g u/fpg'

- 7 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

There are no other matters to be disclosed by the Companyin accordance with any of the existing laws of Nepal.

Valuation of Life Fund

A Life Insurance Company is required to undertake valuationof its funds by an Actuary once every 3 years a per theprovision of section 26 of the Insurance Act 2049 (1992) ofNepal.

The valuation exercise as at Ashad 2065 is being undertakenby the company the results of which shall be declared indue course.

Customer Service

Bank accounts

We have opened Non-operating Collecting Bank accountsat almost all important centres in the country to enable ourcustomers and agents to deposit premia. Some of thesebanks have not been able to provide expected service andhence we have subsequently closed them. All these accountshave been opened keeping the directives of Bema Samitialso in view.

Claims

During the year 2064-65, we have settled 88 death claimsfor an amount of Rs. 1.67 Cr. The total death claims settledsince inception have been 299 in which we have paidRs. 5,04,80,016.

Modernization of Corporate Office

In an effort to improve transparency and also provideconvenience to customers and staff members we havemodernized our Corporate Office and made it more customerfriendly. The branch office at Kathmandu and Janakpur alsohave been modernized.

Other Marketing Activities

During the year of review, the Company recruited 1464 newagents. As at the end of Ashadh 2065, we had 13756 agentson roll out of which only 2730 have contributed to the

kg]{ x'G5 . sDkgLn] @)^% cfiff9;Ddsf] d'Nof°g u/fO/x]sf] 5/ glthf l5§} k|sflzt ug{] 5f}+ .

Aofkf/Ls ;]jfx?

a}+s vftfx?

xfdLn] cfjZostf cg';f/ u|fxs tyf clestf{x?nfO{ /sd hDdfug{ tyf aLldtx?nfO{ gljs/0f aLdf z'Ns hDdf ug{ ;/n xf];\eGg] x]t'n] b]zsf ljleGg :yfgx?df aLdf ;ldltaf6 hf/L n]vf;DalGw lgb]{lzsf adf]lhd x'g] ul/ a}+s vftfx? vf]n]sf 5f}+ tyfvf]Ng] sfo{ hf/L /fv]sf 5f}+ . s]lx o:tf a}+s vftfx? h;af6 ;f]r]cg'?k kmfO{bf k'Ug g;s]sf] sf/0f aGb klg u/]sf 5f}+ .

d[To' bfaL

cf= j= @)^$÷)^% df sDkgLn] hDdf ** j6f d[To' bfaLx?;DkGg u/L ?= !=^& s/f]8 e'QmfgL u/]sf] 5 . ;'?jftb]lvxfn;Dd @(( j6f d[To' bfaLx? ;DkGg ul/ ?= %,)$,*),)!^÷–a/fa/sf] e'QmfgL ePsf] 5 .

k|wfg sfof{nosf] ef}lts ;+/rgf k'gM lgdf{0f

sfof{nodf kf/blz{tf a9fpgsf] nflu tyf u|fxsx?sf] lglDtcem :tl/o ;'lawfhgs xf];\, ;fy} sd{rf/Lx?nfO{ ;d]t cg's'nxf];\ eGg] x]t'n] k|wfg sfof{nosf] ef}lts ;+/rgf k'gM lgdf{0ful/Psf] 5 . sf7df08f} tyf hgsk'/sf] zfvf sfof{nox? ;d]tk'gM lgdf0f{ ul/Psf] 5 .

cGo Aofkfl/s lqmofsnfkx?

o; aif{df dfq sDkgLn] !$^$ hgf clestf{x? lgo'Qm u/]sf5g\ eg] @)^% cfiff9;Dddf sDkgLdf hDdf !#&%^ clestf{x?sfo{/t /x]sf 5g\ . h; dWo] @&#) clestf{x?n] aLdf Aofkf/dfof]ubfg k'/\ofpg' ePsf] 5 . ;fy} lgoldt ?kdf sDkgLsf] laqmLa9fpg] p2]Zon] gof“ clestf{x?nfO{ tflnd tyf laBdfgclestf{x?nfO{ cem a9L Aoj;flos agfpg k"gtf{huL tflndtyf laqmosnfx? l;sfOb} cfPsf] 5 .

xfdLn] xfd|f] !@ j6f zfvf sfof{nox?, sf7df08f}, la/f6gu/,kf]v/f, a'6jn, gf/fo0f3f6, g]kfnu+h, wgu9L, dx]Gb|gu/, nfxfg,hgsk'/, aL/u+h / latf{df]8af6 aLdf Aoj;fo ul//x]sf 5f}+ .

- 8 -

business of the company. A continuous exercise isundertaken to enhance the selling skill of agents, withrefresher trainings and also by providing them with literatureon marketing and allied subjects.

We are doing business through our 12 branches, located atKathmandu, Biratnagar, Pokhara, Butwal, Narayanghat,Nepalgunj, Dhangadi, Mahendranagar, Lahan, Janakpur,Birgunj and Birtamod. Permission has been sought from theRegulator to open branches at a few more places. The spreadof branches have helped us in insuring people from themetropolitan area to remote rural areas.

Corporate Governance

Company's Board of Directors meet regularly. 38 suchMeetings have been held till date. The Board has constitutedInvestment Committee for taking investment decisions asper the guidelines of Beema Samiti and the Board. Thedecisions of the committee are regularly placed before theBoard for approval. The company has also constituted AuditCommittee as required under the Companies Act 2063.

Expression of Gratitude

On this occasion, I on behalf of the company and its Boardof Directors, would like to place on record, our profoundgratitude to all the distinguished shareholders for theircontinued support and guidance. I would also like to thankour esteemed policyholders who have reposed their faith inus by insuring their lives with LIC (Nepal) Ltd. Our gratitudeis also due to the honourable Government of Nepal, theMinistry of Finance, Beema Samiti, Nepal Rastra Bank,Registrar of Companies, Stock Exchange and all otherconcerned Departments, for their immense support andguidance. I would also like to thank the Board of Directors ofthe Company for the interest taken by them in guiding theCompany.

And finally, I would also like to place on record the gratitudeand appreciation of the Board and myself to all the Agents,Agency Managers, Market Representatives and also allmembers of staff of the Company for their hard work andeffort without which the Company would not have scaledthese heights. I solicit patronage of public of Nepal makingthe Company emerge as market leader of the country.

T. S. VijayanChairman

s]lx gof“ :yfgx?df zfvf sfof{no vf]Ngsf] lglDt ;ldlt ;dIf

:jLs[tL dfu]sf 5f} . 5l/P/ /x]sf] zfvf sfof{nox?n] dxfgu/b]lv

u|fld0f If]qdf a;f]af; ul//x]sf ;Dk"0f{ b]zaf;Lx?sf] aLdf

ug{df ;xof]u k'/\ofO/x]sf] 5 .

;+:yfklso Aoj:yfkg

sDkgLsf] ;+rfns ;ldltsf] a}7s lgoldt ?kdf a:g] u/]sf]

5 . xfn;Dd #* j6f a}7sx? ;DkGg e};s]sf 5g\ . aLdf

;ldltsf] dfu{ lgb]{zgdf /lx nufgL ;DalGw lg0f{o lngsf nflu

;+rfns ;ldltn] Pp6f nufgL ;ldlt u7g u/]sf] 5 . pQm

;ldltn] lnPsf] nufgL ;DalGw lg0f{ox? :jLs[tLsf nflu ;+rfns

;ldlt ;dIf /flvG5 . sDkgLn] sDkgL P]g @)^# adf]lhd Pp6f

n]vf ;ldlt u7g u/]sf] 5 .

cGtdf

cfhsf] o; k'gLt cj;/df d sDkgL tyf ;+rfnssf] tkm{af6

;Dk"0f{ z]o/wgL dxfg'efjx?n] sDkgLk|lt b]vfpg' ePsf] uxg

cle?lr tyf pxf“x?af6 ;do ;dodf k|fKt ax'd"No ;Nnfx /

;'emfjsf nflu wGojfb 1fkg ug{ rfxG5' . ;fy} ;Dk"0f{ aLldtx?,

h:n] k"0f{ ljZjf;sf ;fy cfkm\gf] hLjgsf] aLdf o; Pn=cfO=;L=

-g]kfn_ ln= df u/fpg' ePsf] 5 nfO{ klg wGojfb 1fkg ug{

rfxG5' . d g]kfn ;/sf/, cy{ dGqfno, aLdf ;ldlt, g]kfn /fi6«

a}+s, sDkgL /lhi6f/ sfof{no, g]kfn :6s PS;r]Gh / ;DjlGwt

lgsfox?af6 k|fKt lg/Gt/ ;xof]u / dfu{ lgb{]zgsf nflu cfef/

JoQm ug{ rfxG5' . ;fy} sDkgL k|lt b]vfpg' ePsf] uxg cle?lr

tyf pxf“x?af6 k|fKt dfu{ lgb{]zgsf] nflu wGojfb 1fkg ug{

rfxG5' .

cGTodf, d o; sDkgLdf, clestf{, Ph]G;L d]g]h/, ahf/ k|ltlgwL

tyf ;d:t sd{rf/Lju{x?nfO{ wGojfb lbg rfxG5', h;sf] s8f

kl/>d / d]xgt geO{ lbPsf] eP sDkgLn] cfh olt w]/} k|utL ug{

;Sg] lyPg . sDkgLnfO{ b]zsf] aLdf ahf/df cu|0fL aLdf sDkgLsf]

?kdf :yflkt u/fpg ;Dk"0f{ g]kfnL hgtfx?sf] ;xof]u /

;xeflutfsf] nfuL xfbL{s cg'/f]w ub{5' .

6L= P;= ljhogcWoIf

- 9 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

P.O. Box: 1989

Kathmandu, Nepal

Tel: 4421684, 4428887, 4440095

Fax: 977-1-4424247

"Shova Complex" 344/41, Dhobidhara Marg,

Kamal Pokhari (Behind Kumari Cinema Parking)

Kathmandu, Nepal

E-mail: [email protected]

RRRRR. BAJRA. BAJRA. BAJRA. BAJRA. BAJRACHARCHARCHARCHARCHARYYYYYAAAAA

& C& C& C& C& Co.o.o.o.o.

Chartered Accounts

INTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALwww.nexia.com Member of Nexia International, a worldwide network of independent accounting and consulting firms

>L nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln= sf]

z]o/wgL dxfg'efjx?df n]vfkl/Ifssf] k|ltj]bg

xfdLn] o;} ;fy ;+nUg nfOkm OG:of]/]G; skf{]/]zg -g]kfn_ lnld6]8sf] cfiff9 #!, @)^% -h'nfO{ !%, @))*_ sf] jf;nft, ;f] ldltdf;dfKt ePsf] cfly{s jif{sf] gfkmf gf]S;fg lx;fa tyf gub k|jfxsf] n]vf kl/If0f ;DkGg u/]sf 5f}+ . ljlQo ljj/0fx? k|ltsf]pQ/bfloTj sDkgLsf] Joj:yfkgdf /x]sf] 5 . tL ljlQo ljj/0fx? pk/ n]vfkl/If0fsf] cfwf/df cfÇgf] dGtJo hf/L ug{' xfd|f]pQ/bfloTj xf] .

g]kfnsf] n]vfk/LIf0f dfg tyf n]vfk/LIf0fsf] ;j{dfGo k|rngsf] cfwf/df xfdLn] n]vfk/LIf0f sfo{ ;DkGg u/]sf 5f}+ . ljlQoljj/0f ;f/e"t?kdf unt cf+s8f /lxt 5 eGg] s'/fdf ljZj:t x'gsf nflu tL dfgx? tyf ;j{dfGo k|rngdf /x]sf dfu{bz{g cg';f/n]vfk/LIf0f of]hgf tof/ u/L tbg';f/ n]vfk/LIf0f ;DkGg ug{' kb{5 . ljlQo ljj/0fdf pNn]lvt /sd / v'nfOPsf cGo ljj/0fnfO{k'i6ofO{ ug{] k|df0fsf] 58\s] k/LIf0f ;d]t n]vfk/LIf0fdf ;dfj]z x'G5 . ;+:yfn] cjnDag u/]sf] n]vfl;4fGt, Joj:yfkgn] u/]sfdxTjk"0f{ cg'dfg Pj+ ljlQo ljj/0f k|:t'ltn] ;du| l:yltsf] d"Nof+sg klg n]vfk/LIf0fdf ;dfj]z x'G5 . n]vfk/LIf0fn] xfd|f] dGtJonfO{kof{Kt cfwf/ k|bfg ug{] s'/fdf xfdL ljZj:t 5f}+ .

xfd|f] /fodf ;+nUg jf;nftn] cfiff9 #!, @)^% sf] cfly{s l:ylt tyf gfkmf gf]S;fg lx;fan] ;f] ldltdf ;dfKt ePsf] cfly{s jif{sf]sf/f]jf/sf] l:ylt tyf gub k|jfxsf] oyfy{ lrq0f u/]sf] / ;f] g]kfnsf] n]vfdfg tyf ;j{dfGo n]vf l;4fGt, sDkgL P]g Pj+ aLdfP]g cg';f/ tof/ ePsf] xfdLnfO{ nfu]sf] 5 .

;fy} xfd|f] ljrf/df,

s_ xfdLnfO{ n]vf kl/If0f ug{ cfjZos ;"rgf / :ki6Ls/0fx? pknAw ePsf 5g\ .

v_ k|:t't jf;nft, gfkmf gf]S;fg lx;fa tyf gub k|jfx ljj/0f sDkgL P]g, @)^# tyf aLdf P]g @)$( sf] cfjZostfg';f/ tof/ePsf 5g\ / pQm ljj/0fx? sDkgLn] /fv]sf] n]vf;“u b'?:t /x]sf 5g\ .

u_ sDkgLn] sfg"g adf]lhd lx;fa lstfa / n]vf 7Ls;“u /fv]sf] 5 .

3_ xfdLnfO{ k|fKt hfgsf/L Pj+ lbOPsf] :kli6s/0fx?sf] cfwf/df sDkgLsf] ;+rfns ;ldlt jf k|ltlglw jf s'g} sd{rf/Ln] sfg"glj?4 sfdsfh u/]sf] jf k|ToIf ?kdf a]lx;fa u/]sf] jf sDkgLsf] xfgL gf]S;fgL u/]sf] b]lv+b}g .

sf7df8f}+,@)^% kf}if @)

;'/]Gb| e"if0f >]i7, Pkm=l;=P=jl/i7 ;fem]bf/

cf/= ah|frfo{ P08 sDkgLrf6{8{ Psfp06]06;\

- 11 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

Auditor's Report to the shareholders of

Life Insurance Corporation (Nepal) Ltd.

We have audited the attached balance sheet of Life insurance corporation (Nepal) limited as of Ashad 31, 2065 (July 15,2008) and related statements of income and cash flow for the year than ended. These financial statements are the responsibilityof the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with Nepal Standards on Auditing and relevant practices. Those Standards or relevantpractices require that we plan and perform the audit to obtain reasonable assurance about whether the financial statementsare free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amount anddisclosures in the financial statements. An audit also includes assessing the accounting principles used and significantestimates made by management, as well as evaluating the overall financial statement presentation. We believe that ouraudit provides a reasonable basis for our opinion.

In our opinion, the financial statements give a true and fair view of the financial position of the Company as of Ashad 31, 2065(July 15, 2008), and of the results of its operations and its cash flows for the year then ended in accordance with NepalAccounting Standards or relevant practices as well as comply with Company Act and Insurance Act.

We also report that, in our opinion,

a) We have obtained information and the explanations required for the purpose of our audit.

b) The enclosed balance sheet, profit and loss account and cash flow statement have been prepared as required byCompany Act, 2063 and Insurance Act, 2049, and conform to the accounts maintained by the Company.

c) The accounts and records of the Company have been maintained in accordance with the law.

d) To the best of our information and according to the explanation given to us, the Board of Directors or the representativeor any employee of the Company has not acted contrary to the provisions of law relating to accounts, nor caused directloss or damage to the Company or misappropriated the funds of the company.

Kathmandu.

January 4, 2009

P.O. Box: 1989

Kathmandu, Nepal

Tel: 4421684, 4428887, 4440095

Fax: 977-1-4424247

"Shova Complex" 344/41, Dhobidhara Marg,

Kamal Pokhari (Behind Kumari Cinema Parking)

Kathmandu, Nepal

E-mail: [email protected]

RRRRR. BAJRA. BAJRA. BAJRA. BAJRA. BAJRACHARCHARCHARCHARCHARYYYYYAAAAA

& C& C& C& C& Co.o.o.o.o.

Chartered Accounts

INTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALwww.nexia.com Member of Nexia International, a worldwide network of independent accounting and consulting firms

(Surendra Bhusan Shrestha, FCA)Senior Partner

R. Bajracharya & Co.Chartered Accountants

- 12 -

@%),))),)))=)) (,*%(,)#@=!) @,$(@,#@(,)%^=##

–sss–sss

@,&%@,!**,)**=$#

%,*^),#^%=#^ @,%&&,!($,&#%=@$ (@,(^%,^@(=&(

%@,^*^,*^&=!) !*,(%(,$*(=^@ (#,$!),*%$=$&

!^%,)%&,@!!=!(

!#%,@%%,(^)=@%–sss

*,^%*,)!)=)) !$#,(!#,(&)=@% @!,!$#,@$)=($ %%,)@$,!!&=!)

–sss

@,&%@,!**,)**=$#

@%),))),)))=))%),(^!,%**=#)

!,^**,()$,&*)=!%–sss–sss

!,(*(,*^^,#^*=$%

^,@@),#%^=(*@,!)(,)*(,$%#=$$

@%,##$,(##=))

$%,@*&,&&@=%#(,&$!,@#(=#)

^&,&$@,&)@=%!!@@,&&!,&!$=#$

#)$,&$#,@%#=%*–sss

&,)*^,%))=))#!!,*@(,&%#=%*

-!*(,)%*,)#(=@$_#*,@&(,^^$=@&

–sss

!,(*(,*^^,#^*=$%

!^!&!!!*!(

@)@!#

@@@#@$

@%@^(

@&

>f]t! r'Qmf k"“hL@ hu]8f tyf sf]if# hLjg aLdf sf]if$ dxf–ljkQL hu]8f% bL3{sflng C0f tyf ;fk6L

s"n >f]tpkof]u

^ l:y/ ;DkQL -v'b_& nufgL* aLdfn]vsf] lwtf]df shf{

rfn' ;DkQL shf{ tyf k]ZsLx? M( gub tyf a}+s df}Hbft!) cGo shf{!! cGo ;DkQL

hDdf -s_rfn' bfloTj tyf Joj:yfx? M

!@ rfn' bfloTj!# c;dfKt hf]lvd jfkt Joj:yf!$ e'QmfgL x'g af“sL bfjL afkt Joj:yf

hDdf -v_!% v"b rfn' ;DkQL -u_ = -s_ – -v_!^ ckn]vg jf ;dfof]hg x'g af“sL ljljw vr{x?!& gfkmf gf]S;fg lx;faaf6 ;f/]sf] gf]S;fg

s"n pkof]u -^+&+*+!%+!^+!&_

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=@)^% cfiff9 d;fGtsf] jf;nft

ljj/0fqm=;+= cg';"rL o; aif{ ut aif{

;+efljt bfloTjx? tyf cg';"rL #, (, !! tyf !^ b]lv @( ;Dd o;sf cleGg c+u x'g\ .

;+efljt bfloTjx?

ljlkg s'df/ nfnljQ clws[t

b]jf]lht ;fGofn;xfos dxfk|jGws

d'/nLw/g\= kLk|d'v sfo{sf/L clws[t÷;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns

P=s]= bf; u'Ktf;+rfns

l6=P;= ljhogcWoIf

;+nUg k|lta]bgsf] cfwf/df

;'/]Gb| e'if0f >]i7, Pkm=;L=P=al/i7 ;fe]mbf/

cf/= ah|frfo{ P08 sDkgLrf6{8 Psfp06]06

! r'Qmf jf e'QmfgL x'g af“sL nufgL@ k|Tofe"lt k|lta4tf# aLdfn]v cGtu{t eGbf afx]saf6 aLds pk/ bfjL k/]sf] t/ aLdsn] bfloTj :jLsf/ gu/]sf]$ aLdsn] jf aLdssf] tkm{af6 lbOPsf] Uof/]06L% cGo -d[To'' bfaL /]k'8]zg_

hDdf

–sss –sss –sss –sss

&,!!%,)))=))

&,!!%,)))=))

–sss –sss –sss –sss

%,@^%,)))=))

%,@^%,)))=))

qm=;+= ljj/0f o; aif{ ut aif{

- 13 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

S.N. Particulars Annexure Current Year Previous Year

Sources1 Paid up capital 16 250,000,000.00 250,000,000.002 Reserve & Surplus 17 9,859,032.10 50,961,588.303 Life Insurance Fund 11 2,492,329,056.33 1,688,904,780.154 Catastrophe Reserve 18 -aaa -aaa5 Long term loan & Borrowing 19 -aaa -aaa

Total Sources 2,752,188,088.43 1,989,866,368.45Uses

6 Fixed Assets (Net) 20 5,860,365.36 6,220,356.987 Investment 21 2,577,194,735.24 2,109,089,453.448 Policy Loan 3 92,965,629.79 25,334,933.00

Current Assets, Loans and advances:9 Cash and Bank Balance 22 52,686,867.10 45,287,772.5310 Other Loan 23 18,959,489.62 9,741,239.3011 Other Assets 24 93,410,854.47 67,742,702.51

Total (A) 165,057,211.19 122,771,714.34Current liabilities and provisions:

12 Current Liabilities 25 135,255,960.25 304,743,253.5813 Provision for Unexpired Risk 26 -aaa -aaa14 Claims Payable 9 8,658,010.00 7,086,500.00

Total (B) 143,913,970.25 311,829,753.5815 Net Current Assets C = (A - B) 21,143,240.94 (189,058,039.24)16 Miscellaneous Expenses (To the extent not written off) 27 55,024,117.10 38,279,664.2717 Loss Transferred From Profit & Loss Account -aaa -aaa

Total Uses (6+7+8+15+16+17) 2,752,188,088.43 1,989,866,368.45

Contingent Liabilities and Annexures 3, 9, 11 & 16 to 29 are integral part of this Balance Sheet.

Contingent Liabilties

S.N. Particulars Current Year Previous Year

1 Unpaid Investment -aaa -aaa2 Underwriting Commitment -aaa -aaa3 Claim other than insurance business not accepted by the company -aaa -aaa4 Guarantee issued by insured or on behalf of insured -aaa -aaa5 Other (Death Claims Repudiated) 7,115,000.00 5,265,000.00

Total 7,115,000.00 5,265,000.00

Life Insurance Corporation (Nepal) Ltd.Balance Sheet as on Ashad End 2065 (15th July 2008)

As per our report of even date

Surendra Bhusan Shrestha, FCASr. Partner

For R. Bajracharya & Co.Chartered Accountants

Bipin Kumar LalFinance Officer

Devojit SanyalAsst. General Manager

Muraleedharan. PCEO/Director

Rajendra AryalDirector

S.K. MukharjeeDirector

Ashok AgrawalDirector

A.K. Das GuptaDirector


- 14 -

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=@)^% cfiff9 d;fGtsf] cfo Aoo lx;fa

cfo! aLdfz'Ns -v"b_@ k'gaL{df sldzg cfo# nufgL, shf{ tyf cGoaf6 cfo$ aLdfn]vsf] lwtf]df shf{af6 cfo% cGo k|ToIf cfo^ cfly{s aif{sf] z'?sf] e'QmfgL x'g af“sL bfjL afkt Joj:yf& cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf

hDdf cfo -s_Joo

* bfjL e'QmfgL -v'b_( clestf{ sldzg!) :jf:Yo k/LIf0f z'Ns!! k'gaL{df sldzg vr{!@ ;]jf z'Ns -v'b_! # cGo k|ToIf vr{!$ Joj:yfkg vr{!% cfos/!^ cfly{s aif{sf] cGTodf e'QmfgL x'g af“sL bfjL afkt Joj:yf!& cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf

hDdf Joo -v_!* hLjg aLdf sf]ifdf ;f/]sf] art = -s_ – -v_

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{

cg';"rL ! b]lv ( ;Dd o;sf cleGg c+u x'g\ .

!

@#

$%

^

&*(

&@@,($^,#)!=*$–sss

*$,))),!$)=)(!,(@%,)%)=^%%,((#,$#%=%#

!),@&!,*#(=))–sss

*@%,!#^,&^&=!!

$^,&*$,$^)=!$(^,*(),#*^=@*

@,#^),@^%=))–sss

&,@%^,)#@=%!–sss

%#,)@&,(!!=%(&,&$!,*&@=@)&,)*^,%))=))

–sss@@!,!$&,$@&=&@^)#,(*(,##(=#(

*((,!(*,&)&=%* –sss

!#),^&#,%!(=!$ %,&%),^@!=*@ ^,^)@,&*)=#^ &,)*^,%))=))

–sss !,)$(,#!@,!@*=()

%&,(#&,!%*=*) !!),^(&,^&&=@% @,@!@,#**=))

–sss (,))^,*@&=))

–sss $*,$%!,%)#=%% !&,^!*,&$@=$) *,^%*,)!)=))

–sss @%$,%*@,#)&=)) &($,&@(,*@!=()




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 15 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

S.N. Particular Anx Current Year Previous Year

INCOME1 Net Premium 1 899,198,707.58 722,946,301.842 Re-Insurance Commission Income -aaa -aaa3 Investment, Loan And other Income 2 130,673,519.14 84,000,140.094 Income From Policy Loan 3 5,750,621.82 1,925,050.655 Other Direct Income 6,602,780.36 5,993,435.536 Provision for outstanding claims at the begin of the year 7,086,500.00 10,271,839.007 Provision for unexpired risk at the beginning of the year -aaa -aaa

Total Income (A) 1,049,312,128.90 825,136,767.11Expenditure

8 Claim Payment (Net) 4 57,937,158.80 46,784,460.149 Agent Commision 5 110,697,677.25 96,890,386.2810 Medical Fee 2,212,388.00 2,360,265.0011 Re-Insurance Commission Expenses -aaa -aaa12 Service Charges (Net) 6 9,006,827.00 7,256,032.5113 Other Direct Expenses -aaa -aaa14 Management Expenses 7 48,451,503.55 53,027,911.5915 Income Tax 8 17,618,742.40 7,741,872.2016 Provision for Outstanding claim to be paid at the end of the year 9 8,658,010.00 7,086,500.0017 Provision for unexpired Risk to be paid at the end of the year -aaa -aaa

Total Expenditure (B) 254,582,307.00 221,147,427.7218 Surplus Transferred to Life Fund (A - B) 794,729,821.90 603,989,339.39

Annexures 1 to 9 are integral part of this Revenue Account.

Life Insurance Corporation (Nepal) Ltd.Revenue Account for the F. Y. 20664/65












- 16 -

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^$÷)^% sf] gfkmf gf]S;fg lx;fa

cfDbfgL! cfo Joo lx;faaf6 ;f/]sf]@ hLjg aLdf sf]ifaf6 ;f/]sf]# nufgL shf{ tyf cGoaf6 cfo$ Joj:yf lkmtf{% cGo cfDbfgL

hDdf cfDbfgL -s_vr{

^ Joj:yfkg vr{& ckn]vg vr{* cGo vr{x?( gf]S;fgLsf] nflu Joj:yf!) sd{rf/L af]g; Joj:yf!@ cfos/!# hLjg aLdf sf]ifdf ;f/]sf]

hDdf vr{ -v_!$ v"b gfkmf÷-gf]S;fg_ -u_ = -s_ – -v_!% cl3Nnf] jif{;+u ;DalGwt vr{!^ cl3Nnf] aif{af6 ;fl/Psf] gfkmf÷-gf]S;fg_

af“8kmf“8sf] nflu pknAw /sd!& -s_ k"“hLut hu]8f

-v_ dxf–ljkQL hu]8f-u_ ljz]if hu]8f-3_ cGo hu]8f -ljj/0f v'nfpg]_-ª_ k|:tfljt nfef+z

!* jf;nftdf ;f/]sf] gfkmf÷-gf]S;fg_

!)!!@!@

&!#!$!%

*!!

–sss–sss

!#,^)*,(**=*$–sss–sss

!#,^)*,(**=*$

%,#*#,%))=#(–sss–sss

*^!,*@@=))%)(,!*(=*!

!,&^@,%&*=%^–sss

*,%!&,)()=&^%,)(!,*(*=)*

–sss$@,@^&,!#$=)@$&,#%(,)#@=!)

–sss–sss–sss–sss

#&,%)),)))=))(,*%(,)#@=!)

cg';"rL @, &, * tyf !) b]lv !% ;Dd o;sf cleGg c+u x'g\ .

–sss%^,^@#,(*&=))!@,!^&,@^$=!$

–sss–sss

^*,&(!,@%!=!$

%,*(!,(()=!*$,&)^=&^

–sss–sss

%,^^@,#(*=&)!,%^*,%&*=$!$,&)!,(**=&(

!&,*@(,^^@=*$%),(^!,%**=#)

–sss–sss

%),(^!,%**=#)–sss–sss–sss–sss–sss

%),(^!,%**=#)

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 17 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

S.N. Particular Anx Current Year Previous Year

Income1 Transferred from Revenue A/c 10 -aaa2 Transferred from Life Insurance fund 11 -aaa 56,623,987.003 Income From Investment Loan and Others 2 13,608,988.84 12,167,264.144 Written Back Provision 12 -aaa -aaa5 Other Income -aaa -aaa

Total Income (A) 13,608,988.84 68,791,251.14Expenses

6 Management expenses 7 5,383,500.39 5,891,990.187 Written off expenses 13 -aaa 4,706.768 Other expenses 14 -aaa -aaa9 Provision for loss 15 861,822.00 -aaa10 Provision for Employees housing11 Provision for Employees Bonus 509,189.81 5,662,398.7012 Income tax 8 1,762,578.56 1,568,578.4113 Transferred to Life Fund 11 4,701,988.79

Total Expenses (B) 8,517,090.76 17,829,662.8414 Net profit/(loss) C = (A-B) 5,091,898.08 50,961,588.3015 Expenses pertains to Prevoius year -aaa -aaa16 Profit transferred from Previous year 42,267,134.02 -aaa

Amount available for Appropriation 47,359,032.10 50,961,588.3017 (a) Capital reserve -aaa -aaa

(b) Catastrophy reserve -aaa -aaa(c) Special reserve -aaa -aaa(d) Other reserve -aaa -aaa(e) Proposed dividend 37,500,000.00 -aaa

18 Profit transferred to Balance sheet 9,859,032.10 50,961,588.30

Annexures 2, 7, 8 & 10 to 15 are integral part of this Profit & Loss Account.

Life Insurance Corporation (Nepal) Ltd.Profit and Loss Account for the year of 2064/65 (2007/2008)












- 18 -

s

v

u

sf/f]af/ ;+rfngaf6 gub k|jfx MaLdf z'Ns cfDbfgLljnDa z'Ns cfDbfgLk'gaL{df z'Ns cfDbfgLk'gaL{df sldzg cfDbfgLcGo k|ToIf cfDbfgLk'gaL{dsaf6 k|fKt bfjL l/se/Lk'gaL{df z'Ns e'QmfgLk'gaL{df sldzg e'QmfgLclestf{ sldzg e'QmfgL:jf:Yo k/LIf0f z'Ns e'QmfgLd[To' bfjL e'QmfgLcjlw ;dfKtL bfjL e'QmfgLcf+lzs cjlw ;dfKtL bfjL e'QmfgL;dk{0f d"No bfjL e'QmfgLcGo bfjL e'QmfgL;]jf z'Ns e'QmfgLJoj:yfkg vr{ e'QmfgLcfos/ e'QmfgLrfn' ;DklQdf -j[l4_÷sdLrfn' bfloTjdf j[l4÷-sdL_sf/f]af/ ;+rfngaf6 v"b gub k|jfx -s_nufgL ultljwLaf6 gub k|jfxl:y/ ;DklQdf -j[l4_÷sdL;/sf/L / ;/sf/sf] hdfgt k|fKt ;]So"l/6Ldf nufgLdf -j[l4_÷sdLa}+s tyf ljQLo ;+:yfsf] d'2tL lgIf]kdf nufgLdf -j[l4_÷sdLa}+s tyf ljQLo ;+:yfsf] cGo lgIf]k nufgLdf -j[l4_ sdLOSo"6L z]o/ nufgLdf -j[l4_÷sdLcu|flwsf/ z]o/÷l8j]Gr/df nufgLdf -j[l4_÷sdLcGo nufgLdf -j[l4_÷sdLaLdfn]vsf] lwtf]df shf{df -j[l4_÷sdLk]ZsL tyf cGo shf{df -j[l4_÷sdLe'QmfgL k|fKt Aofh cfDbfgL -nufgLdf_ j[l4÷sdLe'QmfgL k|fKt nfef+zef8f cfDbfgLe'QmfgL k|fKt Aofh cfDbfgL -shf{df_cGo ck|ToIf cfDbfgLnufgL ultljwLaf6 v"b gub k|jfx -v_ljQLo >f]t sf/f]af/af6 gub k|jfxz]o/af6 k|fKt /sdltg{ af“sL ;fk6Ldf -j[l4_÷sdLcNksflng C0fdf -j[l4_÷sdLC0f ;fk6Ldf Aofh e'QmfgLnfef+z e'QmfgLljQLo >f]t sf/f]af/af6 v"b gub k|jfx -u_o; jif{sf] ;Dk"0f{ ultljwLaf6 v"b gub k|jfx = -s_±-v_±-u_gub tyf a}+sdf /x]sf] z'? df}Hbftgub tyf a}+sdf /x]sf] clGtd df}Hbft

()),̂ *@,̂ ((=*@,̂̂ )@,&*)=#^


-!,#)(,@&#=! _̂–sss

-!!),̂ (&,̂ &&=@%_-@,@!@,#**=))_

-! ,̂&@$,)#*=))_-%,%%!,#^^=^^_

-!$,%#),)! =̂))_-@!,#*!,&#%=!$_

–sss-&,@$@,%%&=%)_

-$&,)*$,%@(=##_–sss

-@%,̂ ^*,!%!=(^_!),$^@,!&@=&!

^^%,#$%,(!(=*(

-!#@#@)%=̂ #_-@^),%&%,$(!=$%_-!)@,))),)))=))_

-%,$&$,̂ &@=#%_-̂ (,$$*,#%*=))_-@(,!&),)))=))_-@!,!)&,&^(=(%_-̂ &,̂ #),̂ (^=&(_-(,@!*,@%)=#@_!# ,̂&@$,*(&=)!

&#$,)(&=%)–sss

%&%)^@!=*@*,*(&,@$*=%(

-$!#,*$!,%&(=%&_

–sss–sss

-@#(,)@*,(^*=$)_-%,)& ,̂@&&=#%_

–sss-@$$,!)%,@$%=&%_

&,#((,)($=%&$%,@*&,&&@=%#%@,^*^,*^&=!)

&@$,@%%,%&%=))%,((#,$#%=%#


-!,#$&,%)!=*!_–sss

-( ,̂*(),#*^=@*_-@,#^),@^%=))_-(,%$%,#*!=))_-#,$# ,̂$*&=*$_-!!,$)),@%)=))_-@@,$)@,#$!=#)_

–sss-%,$@*,(!%=@&_

-̂ ),*%@,%*!=($_–sss

-@$,#(),$&(=$#_@!,(#&,*!%=#@

%!$,!#@,@#%=(*

-@,!#!,*@!=@#_-@^$,*)),)))=))_-$$#,))),)))=))_

-@,)^%,̂ )(=@(_-(,*%%,##$=))_

-$%,$)),)))=))_-#(,)$),̂ &!=$)_-! ,̂*# ,̂$#)=&$_-$,$# ,̂)*#=@%_(&,(@),̂ *@=%@

&%(,%@%=))–sss

@,%(),!((=$!@&,%^)=))

-&@^,@^&,(*@=(*_

–sss–sss

@#(,)@*,(^*=$)-@,)(#,$% =̂&&_

–sss@#^,(#%,%!!=^#@$,&((,&^$=̂ #@),$**,))&=()$%,@*&,&&@=%#

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=@)^$ >fj0f ! Uft]b]lv @)^% cfiff9 d;fGt ;Ddsf] gub k|jfxsf] ljj/0f




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




ljj/0fqm=;+= o; aif{ ut aif{

- 19 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report


A Cash flow from operating activities:Premium Income 900,682,699.82 724,255,575.00Late fee Income 6,602,780.36 5,993,435.53Re-Insurance Income -aaa -aaaRe-Insurance Commission Income -aaa -aaaOther Direct Income -aaa -aaaClaimed recevory from Re-Insurer -aaa -aaaRe-Insurance Premium Paid (1,309,273.16) (1,347,501.81)Re-Insurance commission payment -aaa -aaaAgent commission payment (110,697,677.25) (96,890,386.28)Medical examination fee payment (2,212,388.00) (2,360,265.00)Death claim payment (16,724,038.00) (9,545,381.00)Maturity claim payment (5,551,366.66) (3,436,487.84)Partial-maturity claim payment (14,530,016.00) (11,400,250.00)Surrender value claim payment (21,381,735.14) (22,402,341.30)Other claim payment -aaa -aaaService fee payment (7,242,557.50) (5,428,915.27)Management expenditure payment (47,084,529.33) (60,852,581.94)Income Tax Paid -aaa -aaa(Increase)/decrese in current assets (25,668,151.96) (24,390,479.43)(Increase)/decrese in current liabilities 10,462,172.71 21,937,815.32Net Cash Flow from Operaing activities (A) 665,345,919.89 514,132,235.98

B Cash flow from Investing Activities:(Increase) Decrease in fixed assets (1,323,205.63) (2,131,821.23)(Increase) Decrease in investment in government guaranteed securities. (260,575,491.45) (264,800,000.00)(Increase) Decrease in investment in fixed deposit of bank and financial institution. (102,000,000.00) (443,000,000.00)(Increase) Decrease in investment in other deposit of bank and financial institution. (5,474,672.35) (2,065,609.29)Increase/Decrease in Equtity Share Investments (69,448,358.00) (9,855,334.00)(Increase) Decrease in investment in preference share/debenture (29,170,000.00) (45,400,000.00)(Increase) Decrease in other investment (Premium On Investment) (21,107,769.95) (39,040,671.40)(Increase) Decrease in loans against insurance Policy (67,630,696.79) (16,836,430.74)(Increase) Decrease in other loans and advances (9,218,250.32) (4,436,083.25)Interest Income From Investment 136,724,897.01 97,920,682.52Dividend Received 734,097.50 759,525.00Rental income -aaa -aaaInterest On Policy Loan 5,750,621.82 2,590,199.41Others Indirect Income 8,897,248.59 27,560.00Net Cash Flow from Investing Activities (B) (413,841,579.57) (726,267,982.98)

C Cash flow from Financing ActivitiesAmount received from Shares -aaa -aaa(Increase) Decrease in outstanding debt. -aaa -aaaIncrease/Decrease in short term debt (239,028,968.40) 239,028,968.40Interest Paid on Loan and Debt (5,076,277.35) (2,093,456.77)Dividend paid -aaaNet cash flow from Financing Activities (C) (244,105,245.75) 236,935,511.63Net cash flow from overall activities of this year = (A+B+C) 7,399,094.57 24,799,764.63Opening Balance of Cash & Bank Balance 45,287,772.53 20,488,007.90Closing Balance of Cash & Bank Balance 52,686,867.10 45,287,772.53

Life Insurance Corporation (Nepal) Ltd.Cash Flow Statement for the Period of 17th July 2007 to 15th July 2008












- 20 -

nfO

km O

G:of]/

]G; s

kf]{/]z

g -g

]kfn_ ln

=c

f=j= @

)^$

÷)^%

df O

So

"6Ld

f ePs

f] kl/

jt{g

;Da

GwL l

jj/0

f

z'? df

}Hbft

;dfof]hg

aif{s

f] Vf'b g

fkmf

hLjg

sf]ifdf ;

f/]sf]

nfef

+zsf] n

fuL 5

'6\ofOPs

f]

clGt

d df

}Hbft

ljj/

0f

@%),))

),))

)=))

–sss

–sss

–sss

–sss

@%),))

),))

)=))

z]o/

k"“hL

%),(^!

,%**=#)

–sss

%,)(

!,*(*

=)*

-*,^($

,$%$

=@*_

-#&,%)

),))

)=))

_

(,*%(

,)#@

=!)

;+lrt

gfkmf÷

gf]S;

fg

– – – – – –

k|:tfljt

af]g;

z]o/

k"“hLut

hu]8

f sf]if

– – – – – –

z]o/

lk|ldo

d

– – – – – –

ljz]if

hu]8

f sf]if

– – – – – –

cGo

hu]8

f ty

f sf]if

– – – – – –

dxflj

kQL hu]8

f

– – – – – –

s"n

/sd

#)),(^

!,%*

*=#)

–sss

%,)(

!,*(*

=)*

-*,^($

,$%$

=@*_

-#&,%)

),))

)=))

_

@%(,*%(

,)#@

=!)

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

- 21 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

Lif

e I

nsura

nce C

orp

ora

tion (

Nepal)

Ltd

.D

eta

ils o

f Ch

an

ges i

n E

qu

ity i

n F

. Y

. 2064/0

65

Part

icul

ars

Shar

e C

apita

lR

etai

n Ea

rnin

gPr

opos

ed B

onus

Sha

reC

apita

l Res

erve

Ope

ning

Bal

ance

250,

000,

000.

0050

,961

,588

.30

-aaa

-aaa

Adj

ustm

ent

-aaa

-aaa

-aaa

-aaa

Net

Pro

fit F

or th

e Ye

ar-a

aa5,

091,

898.

08-a

aa-a

aaTr

ansf

erre

d To

Life

Fun

d-a

aa(8

,694

,454

.28)

-aaa

-aaa

Pro

pose

d D

ivid

end

-aaa

(37,

500,

000.

00)

-aaa

-aaa

Clo

sing

Bal

ance

2

50,0

00,0

00.0

09,

859,

032.

10-a

aa-a

aa

Shar

e Pr

emiu

mSp

ecia

l Res

erve

Oth

er R

eser

veC

atas

trop

he R

eser

veTo

tal A

mou

nt

-aaa

-aaa

-aaa

-aaa

300,

961,

588.

30-a

aa-a

aa-a

aa-a

aa-a

aa-a

aa-a

aa-a

aa-a

aa5,

091,

898.

08-a

aa-a

aa-a

aa-a

aa(8

,694

,454

.28)

-aaa

-aaa

-aaa

-aaa

(

37,5

00,0

00.0

0)

-aaa

-aaa

-aaa

-aaa

259,

859,

032.

10

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

- 22 -

- 23 -

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

o; j

if{sss

ut j

if{sss

o; j

if{sss

ut j

if{sss

o; j

if{sss

ut j

if{

!;D

k'0f{ k

|sf/sf] j

Ldfn

]vx?

()),

%!(,

&&(=

%^&@

#,(@#

,%^%

=))

!,$*#

,((@

=@$

!,#)(

,@&#=!^

*((,

)#%,&*

&=#@

&@@,^!

$,@(

!=*$

@OG:o

f]/]G;

k'n

jLdf

z'Ns

!^@,(@

)=@^

##@,)

!)=)

)–s

ss

–sss

!^@,(@

)=@^

##@,)

!)=)

)

hDd

f()

),^*

@,^(

(=*@

&@$,

@%%,%&

%=))

!,$*#

,((@

=@$

!,#)(

,@&#

=!^*(

(,!(

*,&)

&=%*

&@@

,($^

,#)!=*

$

cg';

"rL –

!

qm=;

+=aLdf

sf] ls

l;d

s"n

aLdf

z'Ns

aLdf

z'Ns

-v"b_

-s_ aLdf

z'Ns

-v'b_

o; j

if{sss

ut j

if{sss

o; j

if{sss

ut j

if{sss

o; j

if{sss

ut j

if{sss

!;D

k'0f{ k

|sf/sf] j

Ldfn

]vx?

()),

%!(,

&&(=

%^ &

@#,(@#

,%^%

=))

–sss

–sss

()),

%!(,

&&(=

%^&@

#,(@#

,%^%

=))

@OG:o

f]/]G;

k'n

jLdf

z'Ns

!^@

,(@)

=@^

##@

,)!)

=))

–sss

–sss

!^@

,(@)

=@^

##@

,)!)

=))

hDd

f()

),^*

@,^(

(=*@

&@$

,@%%

,%&%

=)) –s

ss

–sss

())

,^*@

,^((

=*@

&@$

,@%%

,%&%

=))

qm=;

+=aLdf

sf] ls

l;d

k|ToI

f aLdf

z'Ns

s"n

aLdf

z'Ns

k|fKt k

'gaL{d

f z'Ns

(ac

cept

ed)

-v_ s"n

aLdf

z'Ns

-u_ k|ToI

f aLd

fz'Ns

o; a

if{ss

ut a

if{ss

o; a

if{ss

ut a

if{ss

o; a

if{ss

ut a

if{ss

o; a

if{ss

ut a

if{ss

!;D

k'0f{ k

|sf/s

f] jLdf

n]vx?

!*(,^

&&,%$

&=@%

!(#

,^$%,$

#^=))

&!)

,*$@,@

#@=#!

%#)

,@&*,!

@(=))

–sss

–sss

())

,%!(,&

&(=%^

&@#

,(@#,%

^%=))

@OG:

of]/]G;

k'n

jLdfz

'Ns – s

ss

–sss

!^@

,(@)=

@^ #

#@,)!

)=))

–sss

–sss

!^@

,(@)=

@^##

@,)!)

=))

hDd

f!*

(,^&&

,%$&=@

% !(

#,^$%

,$#^

=)) &

!!,))

%,!%@

=%& %

#),^!

),!#(

=)) –s

ss

ss–sss

())

,^*@,^

((=*@

&@$

,@%%,%

&%=))

qm=;

+=aLdf

sf] ls

l;d

k|yd

aif{s

f] aLdf

z'Ns

Psn

aLdf

z'Ns

gjLs

/0f a

Ldfz

'NshDd

f k|ToI

f aLdf

z'Ns

k'gaL{df

z'Ns

e'Qmfg

L (C

eded

)

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

- 24 -

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

Cur

rent

Yea

rsPr

evio

us Y

ears

sC

urre

nt Y

ears

Prev

ious

Yea

rss

Cur

rent

Yea

rsPr

evio

us Y

ear

1A

ll Ty

pes

Of P

olic

ies

900,

519,

779.

5672

3,92

3,56

5.00

1,48

3,99

2.24

1,30

9,27

3.16

899,

035,

787.

3272

2,61

4,29

1.84

2In

sura

nce

Poo

l P

rem

ium

162,

920.

2633

2,01

0.00

-aaa

-aaa

162,

920.

2633

2,01

0.00

Tota

l90

0,68

2,69

9.82

724,

255,

575.

001,

483,

992.

241,

309,

273.

1689

9,19

8,70

7.58

722,

946,

301.

84

Ann

exur

e - 1

S.N.

Type

s of

Insu

ranc

eG

ross

Insu

ranc

e Pr

emiu

mIn

sura

nce

Prem

ium

(Net

)Re

-insu

ranc

e Pre

miu

m p

aid

(ced

ed)

(A) I

NSU

RA

NC

E PR

EMIU

M (N

ET)

Cur

rent

Yea

r--

Prev

ious

Yea

r-C

urre

nt Y

ear-

-Pr

evio

us Y

ear-

Cur

rent

Yea

r--

Prev

ious

Yea

r-

1A

ll Ty

pes

Of P

olic

ies

900,

519,

779.

5672

3,92

3,56

5.00

-aaa

-aaa

900,

519,

779.

5672

3,92

3,56

5.00

2In

sura

nce

Poo

l P

rem

ium

162,

920.

2633

2,01

0.00

-aaa

-aaa

162,

920.

2633

2,01

0.00

Tota

l90

0,68

2,69

9.82

724,

255,

575.

00-a

aa-a

aa90

0,68

2,69

9.82

724,

255,

575.

00

S.N.

Type

s of

Insu

ranc

eD

irect

Pre

miu

mG

ross

Insu

ranc

e Pr

emiu

mRe

-insu

rance

Prem

ium re

ceive

d (ac

cepte

d)

(B) G

RO

SS IN

SUR

AN

CE

PREM

IUM

(C) D

IREC

T IN

SUR

AN

CE

PREM

IUM

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

1Al

l Typ

es O

f Poli

cies

189,6

77,54

7.25

193

,645,4

36.00

71

0,84

2,23

2.31

530,2

78,12

9.00

-aaa

-aaa

900,5

19,77

9.56

723,9

23,56

5.00

2Ins

uran

ce P

ool P

remi

um-aa

a-aa

a16

2,920

.2633

2,010

.00-aa

a-aa

a16

2,920

.2633

2,010

.00

Tota

l18

9,677

,547.2

519

3,645

,436.0

071

1,005

,152.5

753

0,610

,139.0

0-aa

a-aa

a90

0,682

,699.8

272

4,255

,575.0

0

S.N.

Type

s of In

sura

nce

Firs

t Yea

r Pre

miu

mSi

ngle

Prem

ium

Rene

wed

Prem

ium

Tota

l dire

ct P

rem

ium

!@#$%^&*(!)!!!@!#

!$

!%

!^!&!*

cg';"rL – @nufgL, shf{ tyf cGoaf6 cfo

qm=;+= ljj/0f o; aif{ ut jif{

;/sf/L / ;/sf/sf] hdfgt k|fKt ;]So"l/6Laf6 cfojfl0fHo a}+ssf] d'2tL lgIf]kaf6 cfoljsf; a}+ssf] d'2tL lgIf]kaf6 cfogful/s nufgL of]hgfaf6 cfoljQLo ;+:yfsf] d'2tL lgIf]kaf6 cfocfjf; ljQ sDkgLsf] ;fwf/0f z]o/af6 nfef+zcGo klAns sDkgLsf] ;fwf/0f z]o/af6 nfef+za}+s tyf ljQLo ;+:yfsf] cu|flwsf/ z]o/af6 nfef+za}+s tyf ljQLo ;+:yfsf] l8j]Gr/af6 cfocGo -ljj/0f v'nfpg]_ af6 cfoshf{af6 cfocGo lgIf]kaf6 -d'2tL afx]s_ cfonufgL laqmLdf gfkmfGo"g nufgL laqmLdf gf]S;fgnufgL -v/Lb_ df gfkmfGo"g nufgL -v/Lb_ df gf]S;fgl:y/ ;DkQL laqmLaf6 gfkmfGo"g l:y/ ;DkQL laqmLaf6 gf]S;fgvftf ckn]vgcl3Nnf jif{;+u ;DalGwt cfocGo cfo -z]o/ sf/f]jf/_

hDdf

nufgL, shf{ tyf cGoaf6 cfosf] af“8kmf“8gfkmf gf]S;fg lx;fadf ;f/]sf]cfo Joo lx;fadf ;f/]sf]

hDdf

#^,$(&,^)(=)&^$,)%@,%(!=^*!),*^^,@#^=*)!,))),)))=))!!,$*!,^^%=^)

–sss%$,#&@=%)

^&(,&@%=))!#,#&@,*)#=*#!,!!#,(!%=!&

–sss^#*,^%^=*^

–sss

*,*&(,#@#=%(-$,#^#,#!&=!@_

–sss

–sss–sss

*,(@%=))

!$$,@*@,%)&=(*

!#,^)*,(**=*$!#),^&#,%!(=!$

!$$,@*@,%)&=(*

!#,$&%,(%(=()%@,)^!,#@#=*#(,$#*,!^&=#&!,))),)))=))

!),^(&,$%^=$@–sss

&(,*))=))^&(,&@%=))

!),$&*,&%#=$#^^%,!$*=&^

–sss&^(,)@!=%&

–sss

–sss-#,!*),$!@=)%_

–sss

–sss–sss

@,$^)=))

(^,!^&,$)$=@#

!@,!^&,@^$=!$*$,))),!$)=)(

(^,!^&,$)$=@#




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 25 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report


1 Income from Government Securities & Securities Guaranteed by Govt. 36,497,609.07 13,475,959.902 Income from fixed deposit of Commercial Banks 64,052,591.68 52,061,323.833 Income from fixed deposit of Development Banks 10,866,236.80 9,438,167.374 Income from Investment in CIT 1,000,000.00 1,000,000.005 Income from fixed deposit of Finance Company 11,481,665.60 10,697,456.426 Dividend income from the ordinary shares of housing finance company -aaa -aaa7 Dividend income from ordinary shares of other public company 54,372.50 79,800.008 Dividend income from preference share of bank and financial institution 679,725.00 679,725.009 Income from debenture of bank and financial institution 13,372,803.83 10,478,753.4310 Income from Others ( Advances) 1,113,915.17 665,148.7611 Income from Loan -aaa -aaa12 Income from Other Depsit (Except Fixed Deposit) 638,656.86 769,021.5713 Profit on sale of investment

Less: Loss on sale of Investment14 Profit on purchase of investment 8,879,323.59 -aaa

Less: Loss on purchase of Investment (4,363,317.12) (3,180,412.05)15 Profit on sale of fixed assets

Less: Loss on sale of Fixed Asset16 Written Off/ Amortized17 Incomes related to Previous year’s18 Other Income (Share Transaction) 8,925.00 2,460.00

Total 144,282,507.98 96,167,404.23

Appopriation of income from investment, loan and othersTransferred to profit and loss account 13,608,988.84 12,167,264.14Transferred to income and expenditure account 130,673,519.14 84,000,140.09

Total 144,282,507.98 96,167,404.23












Annexure - 2

Income from Investment, Loans and Other Sources

- 26 -

- 27 -

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

o; a

if{ut

aif{

o; a

if{ut

aif{

!;D

k'0f{ k

|sf/sf] j

Ldfn

]vx?

(@,(^

%,^@

(=&(

@%,##

$,(##

=))

%,&%)

,^@!

=*@

!,(@%

,)%)

=^%

hDd

f(@

,(^%

,^@(

=&(

@%,##

$,(#

#=))

%,&

%),^@!

=*@

!,(@%

,)%)

=^%

cg';

"rL –

#aL

dfn

]vs

f] lwtf

]df s

hf{ /

cfo

qm=;

+=aLdf

sf] ls

l;d

aLdf

n]vsf] lw

tf]df

shf{af6 c

foaLdf

n]vsf] lw

tf]df

shf{

o; j

if{sss

ut j

if{sss

o; j

if{sss

ut j

if{sss

o; j

if{sss

ut j

if{sss

!;D

k'0f{ k

|sf/sf] j

Ldfn

]vx?

!%,!&#

,%@*

=))

!),)*#

,&!&

=))

%,%%

!,#^

^=^^

#,$#^

,$*&=*$

!^,)*),%@

^=))

!!,$

)),@%)

=))

hDd

f!%

,!&#

,%@*

=))

!),)*

#,&!

&=))

%,%%

!,#^

^=^^

#,$

#^,$

*&=*$

!^,)*

),%@

^=))

!!,$)

),@%

)=))

cg';

"rL –

$bf

jL e

'Qmfg

L

qm=;

+=aLdf

sf] ls

l;d

d[To'

bfjL e

'Qmfg

L c

f+lzs c

jlw

;dfKt

L bfjL e

'Qmfg

Lcjlw

;dfKt

L bfjL e

'Qmfg

L

o; j

if{ss

ut j

if{ss

o; j

if{ut

jif{

o; j

if{ss

ut j

if{ss

o; j

if{ss

ut j

if{ss

o; j

if{ss

ut j

if{ss

@!,#*

!,&#%

=!$@@

,$)@

,#$!=#)

–ss

–ss

%*,!*

&,!%%

=*)

$&,#

@@,&(

^=!$

@$(

,((&

=))

%#*

,##^=)

)%&

,(#&

,!%*=

*) $

^,&*$

,$^)

=!$

@!,#*

!,&#%

=!$@@

,$)@

,#$!=#

) –

ss –

ss %*,

!*&,

!%%=*

) $

&,#@

@,&(

^=!$

@$(

,((&

=)) %#*

,##^=)

) %&,

(#&,

!%*=*)

$^,&*

$,$^

)=!$

cGo

bfjL e'Qmfg

Ls"n

bfjL e

'= k'ga

L{dss

f] lx:;f

s'n

bfjL e

'Qmfg

L;d

k{0f d"N

o bfjL e

'Qmfg

LbfjL e

'Qmfg

L -v

'b_

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

- 28 -

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

Cur

rent

Yea

rPr

evio

us y

ear

Cur

rent

Yea

rPr

evio

us y

ear

1A

ll Ty

pes

of P

olic

ies

92,9

65,6

29.7

9 2

5,33

4,93

3.00

5,7

50,6

21.8

2 1

,925

,050

.65

Tota

l 9

2,96

5,62

9.79

25,

334,

933.

00 5

,750

,621

.82

1,9

25,0

50.6

5

Ann

exur

e - 3

S.N.

Type

s of

Insu

ranc

eIn

com

e Fr

om P

olic

y Lo

anPo

licy

Loan

Poli

cy L

oan

an

d I

ncom

e f

rom

Poli

cy L

oan

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

1A

ll Ty

pes

Of P

olic

ies

15,1

73,5

28.0

010

,083

,717

.00

5,55

1,36

6.66

3,43

6,48

7.84

16,0

80,5

26.0

0 1

1,40

0,25

0.00

Tota

l 1

5,17

3,52

8.00

10,

083,

717.

00 5

,551

,366

.66

3,4

36,4

87.8

4 1

6,08

0,52

6.00

11,

400,

250.

00

Ann

exur

e - 4

S.N.

Type

s of

Insu

ranc

eD

eath

cla

im p

aym

ent

Part

ial

Mat

urity

cla

im p

aid

Mat

urity

cla

im p

aid

Cla

im P

aid

Curre

nt Y

ear

Prev

ious

Yea

rCu

rrent

Yea

rPr

evio

us Y

ear

Curre

nt Y

ear

Prev

ious

Yea

rCu

rrent

Yea

rPr

evio

us Y

ear

Curre

nt Y

ear

Prev

ious

Yea

r

21,38

1,735

.14 22

,402,3

41.30

-aaa

-aaa

58,18

7,155

.8047

,322,7

96.14

249,9

97.00

538,3

36.00

a 57

,937,1

58.80

46,78

4,460

.14

21,38

1,735

.1422

,402,3

41.30

-aaa

-aaa

58,18

7,155

.8047

,322,7

96.14

249,9

97.00

538,3

36.00

a 57

,937,1

58.80

46,78

4,460

.14

Oth

er c

laim

Pai

dN

et c

laim

Pai

dTO

TAL R

I SHAR

E IN DE

ATH C

LAIM

PAID

Surr

ende

r val

ue c

laim

pai

dTo

tal c

laim

Pai

d

- 29 -

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06c

g';"rL

– %

cle

stf

{ sld

zg

o; jif{s

sut

jif{s

so;

jif{s

sut

jif{s

so;

jif{s

sut

jif{s

so;

jif{s

sut

jif{s

s

!

;Dk

'0f{ k|s

f/sf]

jLdfn

]vx?

%^,@

!),&

^$=(

)%%

,^)@,#^

)=&%

%$,$

*^,(

!@=#

%$!

,@**

,)@%

=%#

–sss

–sss

!!),

^(&,

^&&=

@% (

^,*()

,#*^=

@*

hDdf

%^,@!

),&^$

=()%%

,^)@

,#^)=&

%%$

,$*^

,(!@

=#%$!

,@**

,)@%=%

# –

sss

–ss

s !!

),^(&

,^&&

=@% (

^,*(

),#*^

=@*

hDd

f cle

stf{ s

ldzg

cg';

"rL –

^;

]jf z

'Ns -

v'b_

o; j

if{sss

ut j

if{sss

o; j

if{ss

ut j

if{sss

o; j

if{sss

ut j

if{sss

!;D

k'0f{ k

|sf/sf] j

Ldfn

]vx?

(,))

%,!(

&=*)

&,@#(

,@#%

=^%

–sss

–sss

(,))

%,!(

&=*)

&,@#(

,@#%

=^%

@OG:o

f]/]G;

k'n

jLdf

z'Ns

!,^@

(=@)

#,#@)

=!)

–sss

–sss

!,^@

(=@)

#,#@

)=!)

#Uft

jif{s

f] af“s

L –

!#,$&^

=&^

–sss

–sss

–sss

–sss

hDd

f (

,))^

,*@&

=))

&,@%^

,)#@

=%!

–sss

–sss

(,))^

,*@&

=))

&,@$@

,%%%

=&%

;]jf z

'Ns -v"b_

qm=;

+=aLdf

sf] ls

l;d

k|yd

aif{sf] a

Ldfz'Ns

df cles

tf{ sldz

gPs

n aLdf

z'Nsd

f cl

estf{ s

ldzg

gjLs

/0f a

Ldfz

'Nsdf c

lest

f{ sldzg

qm=;

+=aLdf

sf] ls

l;d

s"n

;]jf z'Ns

s"n

;]jf z'Ns

df k

'gaL{d

ssf] lx:;

f

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

- 30 -

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

Ann

exur

e - 5

Agen

t’s C

om

mis

ion

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

1Al

l Typ

es of

Poli

cies

56,21

0,764

.90 55

,602,3

60.75

54,48

6,912

.35 41

,288,0

25.53

-aaa

-aaa

110,6

97,67

7.25

96,89

0,386

.28

Tota

l 56

,210,7

64.90

55,60

2,360

.75 54

,486,9

12.35

41,28

8,025

.53 -a

aa -a

aa 11

0,697

,677.2

5 96

,890,3

86.28

S.N.

Type

s of In

sura

nce

Agen

t's C

ommi

ssion

on Fi

rst P

remium

Agen

t's co

mm. in

sing

le pr

emuim

Agen

t's co

mm. on

Rene

wal P

remium

Tota

l Age

nt's

Com

miss

ion

Ann

exur

e - 6

Net

Servic

e C

harge

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

1A

ll Ty

pes

of P

olic

ies

9,0

05,1

97.8

0 7

,239

,235

.65

-aaa

-aa

a 9

,005

,197

.80

7,2

39,2

35.6

52

Insu

ranc

e P

ool P

rem

ium

1,6

29.2

0 3

,320

.10

-aaa

-aa

a 1

,629

.20

3,3

20.1

03

O/s

Pev

ious

Yea

r -

aaa

13,

476.

76-a

aa -

aaa

-aa

a -

aaa

Tota

l 9

,006

,827

.00

7,2

56,0

32.5

1 -a

aa -a

aa 9

,006

,827

.00

7,2

42,5

55.7

5

S.N.

Type

s of

Insu

ranc

eG

ross

Ser

vice

Fee

Net

Ser

vice

Fee

Re-in

sure

r's sh

are i

nGro

ss S

ervic

e Fee

cg';"rL – &Joj:yfkg vr{

qm=;+=

!@#$

%^&*(

!)!!!@!#!$!%!^!&!*!(@)

@!

@@ @#

ljj/0f

sd{rf/L vr{ -cg';"rL &=! adf]lhd_3/ ef8flah'nL tyf kfgLdd{t tyf ;Def/-s_ ejg-v_ ;jf/L ;fwg-u_ sfof{no pks/0f-3_ cGo;+rf/5kfO{ tyf d;nGbvr{ x'g] sfof{no ;fdfgkl/jxge|d0f vr{ -eQf ;d]t_-s_ cfGtl/s-v_ j}b]lzsclestf{ tflndclestf{ cGoaLdfz'Ns;'/Iff vr{sfg"gL tyf k/fdz{ z'Nskq klqsf tyf k':tslj1fkg tyf k|rf/ k|;f/Jofkf/ k|j4{gcltyL ;Tsf/rGbf tyf pkxf/;+rfns ;ldlt ;DaGwL vr{-s_ a}7s eQf-v_ cGocGo ;ldlt÷pk–;ldlt ;DaGwL vr{-s_ a}7s eQf-v_ cGo;fwf/0f ;ef ;DaGwL vr{-s_ aLdf°Lo ;]jf z'Ns-v_ aLdf°Lo vr{n]vf k/LIf0f ;DaGwL vr{-s_ n]vf k/LIf0f z'Ns-v_ s/ n]vf k/LIf0f z'Ns-u_ lj:t[t n]vf k/LIf0f k|ltj]bg z'Ns-3_ cGo z'Ns-ª_ cfGtl/s n]vf k/LIf0f vr{-r_ cGo vr{

o; aif{

!$,&$!,$)&=&)#,(%@,%)*=()&)$,%#@=!*

@$,#*^=@%&^#,#$&=(@#!(,(^*=&%

–sss!,%%!,*%(=&*!,^%*,#%)=@#

–sss@^@,&)!=))!!,)&^=%)

&*%,(^^=&^!$!,%@&=^)%)#,(&@=)&

!*,^)$,$)^=^!&)@,#@@=*&#%^,$$%=%)^(,&@)=))!)#,$^!=(^

!,()(,!!&=@%–sss

(%,(!&=))–sss

!!$,)))=))#$#,$%@=))

–sss–sss

#*#,&$%=#^–sss–sss

(^,)%)=))#(,%%)=))

–sss–sss–sss

!@,$&#=))

ut aif{

!),(@@,^&)=#!#,%)(,%))=$)

%^!,$#$=%#

$*,&^!=))%^@,%#&=$$%)^,*!@=&)

–sss!,#(#,)#*=)^!,^*$,#&*=@*

%),*!&=%)!&%,&^&=))

^)*,)@%=*%@!*,$)@=^)$*@,(@&=^)

@$,$%%,$$$=(%!*),&^^=*^&#^,@&!=))&),%*$=#%$),&@@=))

@,&&&,@)*=%)–sss

!)(,@#^=))–sss

^,)))=))@)*,^)&=^)

–sss–sss

#&!,#$#=$)–sss–sss

&(,!))=))##,())=))

–sss–sss–sss

!,*))=))

- 31 -

qmdzM k]h g+= #@

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report


1 Employee Expenses (Anx 7.1) 14,741,407.70 10,922,670.312 Building Rent 3,952,508.90 3,509,500.403 Water & Electricity 704,532.18 561,434.534 Repair & Maintenance

A. Building 24,386.25 48,761.00B. Vehicle 763,347.92 562,537.44C. Office Equipment 319,968.75 506,812.70D. Others -aaa -aaa

5 Communication 1,551,859.78 1,393,038.066 Printing and Stationary 1,658,350.23 1,684,378.287 Non Capital Office Items -aaa 50,817.508 Transportation 262,701.00 175,767.009 Travelling Expenses (Including Allowance) 11,076.50 -aaa

A. Internal 785,966.76 608,025.85B. International 141,527.60 218,402.60

10 Agent Trainning 503,972.07 482,927.6011 Other Agents Expenses 18,604,406. 24,455,444.9512 Insurance premium 702,322.87 180,766.8613 Security Expenses 356,445.50 736,271.0014 Legal and Consultancy Fees 69,720.00 70,584.3515 Books & Periodicals 103,461.96 40,722.0016 Advertigement and Publicity 1,909,117.25 2,777,208.5017 Business promotion -aaa -aaa18 Entertainment Expenses 95,917.00 109,236.0019 Donation and Awards -aaa -aaa20 Board Committee Expenses

A. Meeting Allowance 114,000.00 6,000.00B. Others 343,452.00 208,607.60

21 Other Committee/Sub Committee ExpensesA. Meeting Allowance -aaa -aaaB. Others -aaa -aaa

22 Expenses relating general meeting 383,745.36 371,343.4023 A. Acturial Service Fee -aaa -aaa

B. Acturial Expenses -aaa -aaa24 Audit Expenses

A. Audit Fee 96,050.00 79,100.00B. Tax Audit Fee 39,550.00 33,900.00C. Long Form Audit Fee -aaa -aaaD. Other Fee -aaa -aaaE. Internal Audit Fee -aaa -aaaF. Others Expenses 12,473.00 1,800.00

Annexure - 7

Management Expenditure

- 32 -

Contd. Page No. 33




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




cg';"rL – &

cg';"rL – &=!sd{rf/L vr{

qm=;+=

@%@^@&@*@(#)

ljj/0f

Aofha}s rfh{z'Ns tyf b:t"/x|f; s§Lx'nfs l6s6cGo

hDdf

af“8kmf“8sf] nflu hDdfgfkmf gf]S;fg lx;fadf ;f/]sf]cfo Joo lx;fadf ;f/]sf]

hDdf

o; aif{

%,)&^,@&&=#%!($,%^!=(%

-@,((),**@=))_!,^&$,!(&=@%$(),$(%=))!,!#*,)*&=@)

%#,*#%,))#=($

%,#*#,%))=#($*,$%!,%)#=%%

%#,*#%,))#=($

ut aif{

@,)(#,$%^=&&!%#,$((=^!

#,**^,&)^=))!,^$%,(^*=%@%#&,&!)=))*)^,%)@=($

%*,(!(,()!=&&

%,*(!,(()=!*%#,)@&,(!!=%(

%*,(!(,()!=&&

qm=;+=

!@#$%^&*(!)!!

ljj/0f

tnaeQf;~rosf]ifdf yktflnd vr{kf]zfscf}ifwf]krf/aLdfk]G;g tyf pkbfg Joj:yfljbf afkt Joj:yfcGo ;'ljwf afkt Joj:yf -ljj/0f v'nfpg]_cGos= z}lIfs vr{v= bz} vr{u= ahf/ clwsf/LnfO{ k|f]T;fxg3= sdrf/L egf{ª= sd{rf/L ;'ljwf -ljljw_r= sd{rf/L ;?jf vr{

hDdf

o; aif{

&,^@*,($@=@%$,$*%,)^!=*!^$$,@(%=*#!^,)))=))

–sss@#),!%$=^^!*),)!#=!$#(*,*(!=))

–sss–sss

&!,#**=))%#&,#&@=$%!^@,&%)=))

–sss!@),!$@=@(@^^,#(^=@&

!$,&$!,$)&=&)

ut aif{

%,%&!,#(^=*$#,%#*,%)&=*$

$!&,(%!=&)!)^,%(#=$*

–sss^@,!@&=))@^,))%=!&

@#(,*))=))–sss–sss

(!,^()=))$^(,&%^=##@(^,!#&=%%

–sss–sss

!)@,&)$=$)

!),(@@,^&)=#!

- 33 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

S.N. Particulars Current year Previous year

25 Interest 5,076,277.35 2,093,456.7726 Bank charges 194,561.95 153,499.6127 Fee and charges (2,990,882.00) 3,886,706.0028 Depreciation 1,674,197.25 1,645,968.5229 Stamps 490,495.00 537,710.0030 Other 1,138,087.20 806,502.94

Total 53,835,003.94 58,919,901.77

Total for DistributionTransferred to profit and loss account 5,383,500.39 5,891,990.18Transferred to income and expenses Account 48,451,503.55 53,027,911.59

Total 53,835,003.94 58,919,901.77

Note: Last year’s Technical service fee provision has been reversed as per instruction of Beema Samiti this year and recordedunder Fee & Charges.












Annexure - 7 contd.


1 Salary 7,628,942.25 5,571,396.842 Allowances 4,485,061.81 3,538,507.843 Company Contribution Providend Fund 644,295.83 417,951.704 Training expenses 16,000.00 106,593.485 Dress Allowance -aaa -aaa6 Medical Expenses 230,154.66 62,127.007 Insurance 180,013.14 26,005.178 Provision on pension and gratuity 398,891.00 239,800.009 Provision For Leave Encashment -aaa -aaa10 Provision for Other Facilities -aaa -aaa11 Other

A. Education Expenses 71,388.00 91,690.00B. Dasain Expenses 537,372.45 469,756.33C. Incentive to Marketing Officials 162,750.00 296,137.55D. Recruiting Expenses -aaa -aaaE. Employee Benefit Misc. 120,142.29 -aaaF. Relocation Expenses 266,396.27 102,704.40

Total 14,741,407.70 10,922,670.31

Employee Expenses

Annexure - 7.1

- 34 -

- 35 -

cg';

"rL –

*c

fos

/

qm=;

+=ljj/

0fo;

aif{

ut a

if{

!=o;

aif{s

f] cfos/

!(,#*

!,#@

)=(&

(,#!)

,$%)

=^!

@=cl

3Nn

f aif{x

?sf] c

fos/

– –

#=af

“8kmf“8

sf] n

flu c

fos/s

f] hDd

f !(,#*

!,#@

)=(&

(,#!)

,$%)

=^!

af“8k

mf“8gfkmf g

f]S;f

g lx;f

adf ;

f/]sf]

!,&^

@,%&

*=%

^ !

,%^*

,%&*

=$!

cfo

Joo

lx;f

adf ;

f/]sf]

!&,^!

*,&$@=$)

&,&$!,*&@

=@)

hDd

f !

(,#*

!,#@

)=(^

(,#!)

,$%)

=^!

cg';

"rL –

(c

fly{s

jif{s

f] cGT

od

f e'Qm

fgL x

'g a

f“sL b

fjL a

fkt

Joj:

yf

o; j

if{ss

ut j

if{ss

o; j

if{ss

ut j

if{ss

o; j

if{ss

ut j

if{ss

o; j

if{ss

ut j

if{ss

!=;D

k'0f{

k|sf/s

f] jLd

fn]vx

?&,

#**,

&)$=

)) ^

,!!)

,)))

=))

–ss

s –

sss

–ss

s–s

ss

–sss

–ss

s

hDd

f&,

#**,

&)$=

))^,

!!),

)))=))

–sss

–ss

s –

sss

–ss

s –

sss

–ss

s

qm=;

+=aLdf

sf] ls

l;d

e'Qmfg

L x'g

af“s

L d[T

o' bfjL

e'Qmfg

L x'g

af“sL c

f+lzs

cjlw

;dfKt

L bfjL

e'Qmfg

L x'g

af“s

L cj

lw ;

dfKtL bfj

Le'Q

mfgL x

'g af“sL

;dk

{0f d

"No b

fjL

o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

!$),

)))=

))^)

,)))

=))

–ss

s –

sss

&,%

@*,&

)$=)

) ^

,!&)

,)))

=))

–ss

s –

sss

*,^%

*,)!

)=))

&,)

*^,%

))=)

)

!$),

)))=

))^)

,)))

=))

–ss

s –

sss

&,%@*

,&)$

=)) ^

,!&)

,)))

=))

–ss

s –

sss

*,^%*

,)!)=

)) &

,)*^,%)

)=))

;[hgf

ePsf

] t/

hfgs

f/Ldf

gcfPs

f] bfjL

e'QmfgL

x'g af“s

L hDdf

bfjLdf

k'gaL{d

ssf] lx

:;fe'Qmfg

L x'g

af“s

L hDd

f bfjL

e'Qmfg

L x'g

af“s

L bfj

L afk

t Jo

j:yf

e'Qmfg

L x'g

af“s

L cGo

bfjL

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

- 36 -

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

Ann

exur

e - 8

In

com

e T

ax

S.N.

Part

icul

ars

Cur

rent

Yea

rPr

evio

us Y

ear

1In

com

e Ta

x of

cur

rent

yea

r19

,381

,320

.97

9,3

10,4

50.6

1To

tal I

ncom

e Ta

x Fo

r App

ropr

iatio

n19

,381

,320

.97

9,3

10,4

50.6

1

App

ropr

iatio

nTr

ansf

erre

d to

pro

fit a

nd lo

ss a

ccou

nt1,

762,

578.

56 1

,568

,578

.41

Tran

sfer

red

to in

com

e an

d ex

pend

iture

Acc

ount

17,6

18,7

42.4

0 7

,741

,872

.20

Tota

l19

,381

,320

.97

9,3

10,4

50.6

1

Provis

ion

For O

uts

tan

din

g C

laim

ath

th

e e

nd o

f th

e F

iscal

Year

Ann

exur

e - 9

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

Curre

nt Ye

arPr

evio

us Y

ear

Curre

nt Ye

ar-

Prev

ious

Yea

r

1Al

l Typ

es O

ff Poli

cies

7,38

8,704

.00 6,

110,0

00.00

-aaa

-aaa

-aaa

-aaa

-aaa

-aaa

Tota

l 7,

388,7

04.00

6,11

0,000

.00 -a

aa -a

aa -a

aa -a

aa -a

aa -a

aa

S.N.

Type

s of In

sura

nce

Outs

tand

ing D

eath

claim

Outst

andin

g Pa

rtial

Matur

ity cl

aimOu

tsta

ndin

g Mat

urity

claim

Outst

andin

g Su

rrend

er va

lue cl

aim

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

year

-Pr

evio

us Y

ear

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

Curre

nt Ye

ar-

Prev

ious

Yea

r

140,0

00.00

60,00

0.00

-aaa

-aaa

7,52

8,704

.00 6,

170,0

00.00

-aaa

-aaa

8,65

8,010

.00 7,

086,5

00.00

140,0

00.00

60,00

0.00

-aaa

-aaa

7,52

8,704

.00 6,

170,0

00.00

-aaa

-aaa

8,65

8,010

.00 7,

086,5

00.00

Claim

IBNR

(Est

imat

ed)

Share

of re-

insure

r on tot

al outs

tandin

g claim

Tota

l Out

stan

ding

claim

Prov

ision

for c

laim

of p

aym

ent

Othe

r Out

stan

ding

cali

m

- 37 -

cg';

"rL –

!)

cfo

Jo

o lx

;fa

x?af

6 g

fkmf

gf]S

;fg

lx;

fad

f ;f/

]sf] /

sd

cg';

"rL–

!!h

Ljg

aLd

f sf]if

qm=;

+=aLdf

sf] ls

l;d

;dfof]h

g cuf8L

sf] hLjg

aLdf

sf]if -jif{s

f] z'?d

f_gfkmf gf]S;

fg lx;

faaf6

;f/]s

f]cfo Joo

lx;

faaf6

;f/]s

f];d

fof]h

g cuf8L

sf] hLjg

aLdf

sf]if -jif{s

f] cGTo

df_

hLj

g a

Ldf s

f]ifd

f ;d

fof]h

g

o; aif{......

ut aif{{.......

o; aif{{......

ut aif{{.......

o; aif{{......

ut aif{{......

!=;D

k'0f{ k|s

f/sf] jLdf

n]vx?

@,$

(@,#@(

,)%^

=##

!,&$

%,%@

*,&^&

=!%

–sss

%^,^@

#,(*

&=))

–sss

–sss

hDd

f@,$(

@,#@

(,)%

^=##

!,&

$%,%@*

,&^&

=!%

–sss

%^,^@

#,(*

&=))

–sss

–sss

qm=;

+=aLdf

sf] ls

l;d

;dfof

]hg c

uf8Ls

f] hLjg

aLdf

sf]if

-jif{s

f] cGTo

df_

aLdf

n]v c

Gtu{t

bflo

Tjgfkmf gf]S;

fg lx;

fadf

;f/]sf]

;f]Ne

]G;L df

lh{gs

f] nf

lu Joj

:yf

jif{s

f] cGTo

df h

Ljg

aLdf

sf]if

af“8k

mf“8 g

ul/P

sf] /

sd

af]g;

sf] nf

lu Joj

:yf

qm=;

+=ljj/

0fo;

aif{

ut a

if{

!=cf

o Jo

o lx;f

aaf6 ;

f/]sf]

––

hDd

f–

–

o; jif{.....

ut j

if{.....

o; jif{{.....

ut jif{{.....

o; j

if{{...

ut jif{{.....

o; jif{{.....

ut jif{{......

!=;D

k'0f{

k|sf/s

f] jLdf

n]vx?

!,^(

&,%((

,@#$=

$# !

,!#^,*

#&,$

#*=(

& &

($,&@

(,*@!

=()

^)#

,(*(,#

#(=#(

–ss

s $

,&)!,(

**=&(

@,$

(@,#@

(,)%^

=## !

,&$%,%

@*,&^

&=!%

hDd

f !

,^(&,%

((,@#

$=$#

!,!#^

,*#&,$

#*=(&

&($

,&@(,*

@!=()

^)#

,(*(,#

#(=#(

–ss

s $

,&)!,(

**=&(

@,$

(@,#@

(,)%^

=## !,

&$%,%

@*,&^

&=!%

b|i6A

oM a

Ldf ;

ldltsf] ldlt

@)^%

÷)#÷

!( s

f] kq

dfkm{t\

lbOP

sf] lgb

]{zg

cg';f

/ !^

÷)&÷

@))%

;Dds

f] s'n

Aoj:

yfkg

vr{sf] !

) k|ltz

tn] x

'g cf

pg] /sd

?= *

^,($

,$%$

=@* h

u]8f s

f]ifaf

6 ;f

l/Ps

f] .

o; aif{{......

ut aif{{.......

o; aif{{.....

ut aif{{........

o; aif{{.......

ut aif{{........

o; aif{.......

ut aif{{........

–ss

s %

,^^@

,#(*=

&) –

sss

–ss

s –

sss

%),

(^!,%

**=#

) @

,$(@

,#@(,

)%^=

##!,^*

*,()

$,&*

)=!%

–s

ss %

,^^@

,#(*=

&)–s

ss

–ss

s –

sss

%),

(^!,%

**=#

) @

,$(@

,#@(,

)%^=

##!,^*

*,()

$,&*

)=!%

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

- 38 -

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

Ann

exur

e - 1

0

Am

ou

nt

Tran

sfe

rred f

rom

Reven

ue A

ccou

nts

to P

& L

A/c

S.N.

Part

icul

ars

Cur

rent

Yea

rPr

evio

us Y

ear

1Tr

ansf

erre

d fro

m R

even

ue A

ccou

nt-a

aa-a

aa

Tota

l -a

aa -a

aa

LIF

E I

NSU

RA

NCE

FU

ND

Ann

exur

e - 1

1

Curre

nt ye

ar-

Prev

ious

year

Curre

nt ye

ar-

Prev

ious

year

Curre

nt ye

ar-

Prev

ious

year

Curre

nt ye

ar-

Prev

ious

year

1Al

l Typ

es O

f Poli

cies

1,69

7,599

,234.4

3 1,

136,8

37,43

8.97

794,7

29,82

1.90

603,9

89,33

9.39

-aaa

4,70

1,988

.79 2,

492,3

29,05

6.33

1,74

5,528

,767.1

5

Tota

l 1,

697,5

99,23

4.43

1,13

6,837

,438.9

7 79

4,729

,821.9

0 60

3,989

,339.3

9 -a

aa 4,

701,9

88.79

2,49

2,329

,056.3

3 1,

745,5

28,76

7.15

NO

TE: R

s. 8

6,94

,454

.28

(10%

of M

anag

emen

t exp

ense

s til

l 16/

07/2

005)

has

bee

n tra

nsfe

rred

From

Res

erve

& S

urpl

us to

Life

Fun

d as

per

inst

ruct

ion

of

Bee

ma

Sam

iti le

tter

date

d 20

65/0

3/19

.aa

S.N.

Type

s of In

sura

nce

Life I

nsura

nce F

und B

efore

Adjus

tmen

t (Beg

inning

Of th

e Yea

r)Tr

ansf

erre

d Fro

mpr

ofit

& Lo

ss A

/CTr

ansf

erre

d Fro

mRe

venu

e Acc

ount

Life

Insu

ranc

e Fun

d Bef

ore

Adju

stm

ent (

End O

f the

Year

)

Adju

stm

en

t i

n L

ife I

nsu

ran

ce F

un

d

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

1A

ll Ty

pes

Of P

olic

ies

2,4

92,3

29,0

56.3

3 1

,745

,528

,767

.15

-aa

a 5

6,62

3,98

7.00

-aa

a -

aaa

Tota

l 2

,492

,329

,056

.33

1,7

45,5

28,7

67.1

5-a

aa 5

6,62

3,98

7.00

-aaa

-aaa

S.N.

Type

s of

Insu

ranc

eLife

Insura

nce Fu

nd Be

fore A

djustm

ent (En

d Of th

e Year

)Li

abili

ties

Und

er P

olic

yTr

ansf

erre

d To

Pro

fit &

Los

s Acc

ount

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

-aaa

-aa

a -

aaa

5,6

62,3

98.7

0 -

aaa

50,

961,

588.

30 2

,492

,329

,056

.33

1,6

88,9

04,7

80.1

5

-aaa

-aaa

-aaa

5,66

2,39

8.70

-aaa

50,

961,

588.

30 2

,492

,329

,056

.33

1,6

88,9

04,7

80.1

5

Prov

isio

n fo

r Bon

usLi

fe in

sura

nce f

und a

t the

end o

f the

year

Una

lloca

ted

Am

ount

Prov

isio

n Fo

r Sol

venc

y M

argi

n




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




cg';"rL – !@Joj:yf lkmtf{

cg';"rL – !#ckn]vg vr{x?

cg';"rL – !$cGo vr{x?

!= nufgLdf gf]S;fgsf] nflu Joj:yf lkmtf{ –sss –sss@= shf{df gf]S;fgsf] nflu Joj:yf lkmtf{ –sss –sss#= z+sf:kb cf;fdL Joj:yf lkmtf{ –sss –sss$= cGo Joj:yf lkmtf{ –sss –sss

hDdf –sss –sss


!= k|f/lDes vr{x? –sss $,&)^=&^@= k"j{ ;+rfns vr{x? –sss –ss#= k/ ;fl/Psf vr{x? –sss –ss$= ckn]vg ul/Psf] nufgL –sss –ss%= ckn]vg ul/Psf] shf{ –sss –ss^= ckn]vg ul/Psf] cf;fdL –sss –ss&= cGo ckn]vg –sss –ss

hDdf –sss $,&)^=&^


!= b08 hl/jfgf –sss –sss@= ljnDa z'Ns hl/jfgf –sss –sss#= cGo –sss –sss

hDdf –sss –sss


- 39 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report


1 Provision For Loss on Investment Written Back -aaa -aaa2 Provision For Loss on Loan WrittenBack -aaa -aaa3 Provision For Doubtful Debt Written Back -aaa -aaa4 Other Provision Written Back -aaa -aaa

TOTAL -aaa -aaa












Annexure - 12

Provision Written Back


1 Preliminary expenses -aaa 4,706.762 Pre-operating expenses -aaa -aaa3 Deferred expenses -aaa -aaa4 Investment Written Off -aaa -aaa5 Loan Written Off -aaa -aaa6 Debtors Written Off -aaa -aaa7 Other Written Off -aaa -aaa

Total -aaa 4,706.76

Annexure - 13

Written Off Expenditure


1 Fine & Penalties -aaa -aaa2 Late Fee & Fine -aaa -aaa3 Other -aaa -aaa

Total -aaa - aaa

Annexure - 14

Other Expenditures

- 40 -


!= clws[t k"“hLs_ ?= !)) b/sf] @%,)),))) yfg ;fwf/0f z]o/ @%),))),)))=)) @%),))),)))=))v_ ?============ b/sf] ====yfg ckl/jt{gLo cu|flwsf/ z]o/ –sss –sssu_ ?========== b/sf] ====== yfg kl/jt{gLo cu|flwsf/ z]o/ –sss –sss

@= hf/L k"“hLs_ ?= !)) b/sf] @%,)),))) yfg ;fwf/0f z]o/ @%),))),)))=)) @%),))),)))=))v_ ?============ b/sf] ====yfg ckl/jt{gLo cu|flwsf/ z]o/ –sss –sssu_ ?========== b/sf] ====== yfg kl/jt{gLo cu|flwsf/ z]o/ –sss –sss

#= r'Qmf k"“hLs_ ?= !)) b/sf] @%,)),))) yfg ;fwf/0f z]o/ @%),))),)))=)) @%),))),)))=))Go"g e'QmfgL k|fKt x'g af“sL ?==== b/sf] ===yfg ;fwf/0f z]o/ –sss –sssv_ ?============ b/sf] ====yfg ckl/jt{gLo cu|flwsf/ z]o/ –sss –sssu_ ?========== b/sf] ====== yfg kl/jt{gLo cu|flwsf/ z]o/ –sss –sss

hDdf @%),))),)))=)) @%),))),)))=))

cg';"rL – !^-s_ z]o/ k"“hL




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




cg';"rL – !%gf]S;fgLsf] nflu Joj:yf

!= nufgLdf gf]S;fgLsf] nflu Joj:yf *^!,*@@=)) –sss@= shf{df gf]S;fgLsf] nflu Joj:yf –ss –sss#= z+sf:kb cf;fdL Joj:yf –ss –sss$= cGo Joj:yf –ss –sss

hDdf *^!,*@@=)) –sss


- 41 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report


1 Provision For loss on Investment 861,822.00 -aaa2 Provision For loss on loan -aa -aaa3 Provision For Doubtful Debt -aa -aaa4 Other Provision -aa -aaa

Total 861,822.00 -aaa












Annexure - 15Provision for Losses


1 Authorised capitalA. 2500000 Equity Shares worth Rs. 100/- Each 250,000,000.00 250,000,000.00B. …………. Non Reedeemable Preferred worth Rs. …. Each -aaa -aaaC. …………. Reedeemable Preferred worth Rs. …. Each -aaa -aaa

2 Issued CapitalA. 2500000 Equity Shares worth Rs. 100/- Each 250,000,000.00 250,000,000.00B. …………. Non Reedeemable Preferred worth Rs. …. Each -aaa -aaaC. …………. Reedeemable Preferred worth Rs. …. Each -aaa -aaa

3 Paid up capitalA. 2500000 Equity Shares worth Rs. 100/- Each 250,000,000.00 250,000,000.00Less: Receivable Paid up ….. Shares worth ….B. …………. Non Reedeemable Preferred worth Rs. …. Each -aaa -aaaC. …………. Reedeemable Preferred worth Rs. …. Each -aaa -aaa

Total 250,000,000.00 250,000,000.00

Annexure - 16

A. Share Capital

- 42 -

g]kfnL ;+ul7t ;+:yfx? ̂ @%,)))=)) @%=)) ̂ @%,)))=)) @%=))g]kfnL gful/s –sss –s –sss –sljb]zL !,#&%,)))=)) %%=)) !,#&%,)))=)) %%=))hDdf @,))),)))=)) *)=)) @,))),)))=)) *)=))

;j{;fwf/0f %)),)))=)) @)=)) %)),)))=)) @)=))cGo –sss –s –sss –ss"n @,%)),)))=)) !))=)) @,%)),)))=)) !))=))

z]o/wgLo; aif{ ut aif{

;fwf/0f z]o/ ;+Vof :jfldTjsf] % ;fwf/0f z]o/ ;+Vof :jfldTjsf] %

!= ef/tLo hLjg aLdf lgud %%% !#&,%)),)))=)) %%% !#&,%)),)))=))@= lazfn u|'k @%% ̂ @,%)),)))=)) @%% ̂ @,%)),)))=))

ljj/0fo; aif{

:jfldTjsf] %qm=;+=

/sd

qm=;+= ljj/0f o; jif{ ut jif{

!= k"“hLut hu]8f –ss –sss@= ljz]if hu]8f –ss –sss#= cGo hu]8f –ss –sss$= z]o/ lk|ldod –ss –sss%= k|:tfljs jf]gz z]o/ –ss –sss^= gfkmf gf]S;fg lx;faf6 ;f/]sf] gfkmf (,*%(,)#@=!) %),(^!,%**=#)

hDdf (,*%(,)#@=!) %),(^!,%**=#)

cg';"rL – !&hu]8f tyf sf]if

cg';"rL – !^-v_ z]o/ k"“hL

;+:yfks

Ps k|ltzt jf a9L z]o/ :jfldTj ePsf z]o/wgLx?sf] ljj/0f

ut aif{

:jfldTjsf] % /sd

!= ef/tLo hLjg aLdf lgud %%% !#&,%)),)))=)) %%% !#&,%)),)))=))@= lazfn u|'k -g]kfn_ @%% ̂ @,%)),)))=)) @%% ̂ @,%)),)))=))




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




b|i6AoM aLdf ;ldltsf] ldlt @)^%÷)#÷!( sf] kq dfkm{t\ lbOPsf] lgb]{zg cg';f/ !^÷)&÷@))% ;Ddsf] s'n Aoj:yfkg vr{sf] !) k|ltztn] x'gcfpg] /sd ?= *^,($,$%$=@* hLjg aLdf sf]ifdf ;fl/Psf] .

- 43 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report












Annexure - 16 cond.

B. Ownership Structure of Share

PromotorNepali Organised institution 625,000.00 25% 625,000.00 25%Nepalese citizen -aaa -aa -aaa -aaForeigner 1,375,000.00 55% 1,375,000.00 55%Total 2,000,000.00 80% 2,000,000.00 80%General public 500,000.00 20% 500,000.00 20%Other

Total 2,500,000.00 100% 2,500,000.00 100%

Details Having One or more than one percentage of Shares

Share HolderCurrent Year Previous Year

No.of equity share % of ownership No.of equity share % of ownership

1 Life Insurance Corporation Of India 55% 137,500,000.00 55% 137,500,000.002 Vishal Group ( Nepal) 25% 62,500,000.00 25% 62,500,000.00

ParticularCurrent year Previous year

% of ownershipS.N.

Amount % of ownership Amount


1 Capital reserve -aaa -aaa2 Special reserve -aaa -aaa3 Other reserve ( Details) -aaa -aaa4 Share premium -aaa -aaa5 Proposed Bonus Share -aaa -aaa6 Profit transferred from profit and loss a/c 9,859,032.10 50,961,588.30

Total 9,859,032.10 50,961,588.30

NOTE: Rs. 86,94,454.28 (10% of Management expenses till 16/07/2005) Transferred to Life Fund A/c asper instruction of BeemaSamiti letter dated 2065/03/19.

Annexure - 17

Reserve and Surplus

- 44 -

– – – – – –– – – – – –

jif{sf] z'?df dxf–ljklQ hu]8f

cg';"rL – !*dxf–ljklQ hu]8f

o; aif{ ut aif{

gfkmf gf]S;fg lx;faaf6 ;f/]sf] jif{sf] cGTodf dxf–ljklQ hu]8f

o; aif{ ut aif{ o; aif{ ut aif{

cg';"rL – !(ltg{ af““sL bL3{sflng C0f tyf ;fk6L


!= l8j]Gr/÷a08 –sss –sss@= a}+s –sss –sss#= ljQLo ;+:yf –sss –sss$= cGo –sss –sss

hDdf –sss –sss




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 45 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report












Annexure - 18

- - - - - -- - - - - -

Catastrophe Reserve at the Beginning Of the Year Transferred From P& L A/c Catastrophe Reserve at the End Of the Year

Catastrophe Reserve

Current Year Previous Year Current Year Previous Year Current Year Previous Year


1 Debenture / Bond -aaa -aaa2 Bank -aaa -aaa3 Financial Institution -aaa -aaa4 Others (Detail to be disclosed) -aaa -aaa

Total -aaa -aaa

Annexure - 19

Long Term Loan and Borrowing

- 46 -

- 47 -

cg';

"rL –

@)

l:y

/ ;

DklQ

ljj/

0fk/

n df

]n

z'?

df}Hb

fto;

jif{

yk]sf]

o; j

if{ 36

]sf]

lk|m xf]N8

hldg

–sss

–sss

–sss

–sss

ejg

–sss

–sss

–sss

–sss

kmlg{r/ ty

f lkmS;

\r;{

!,*

%$,$

!^=*

) #!!

,!&!

=##

–sss

@,!^%

,%**=!#

sfof{n

o ;fdfg

!,##@

,*^*

=^)

–sss

–sss

!,##@

,*^*

=^)

sDKo"6

/ ty

f ;"rgf k|ljwL p

ks/0

f #,$

!@,^^!

=$(

!@*

,$*)=

%) –sss

#,%$!,!$

!=((

cb[Zo

;Dk

lQ #@#

,$^(

=))

–sss

–sss

#@#

,$^(

=))

;jf/L ;

fwg

%,^*(,^@

)=))

!!^

,())

=))

–sss

%,*

)^,%@)

=))

lnh

xf]N8

;Dk

lQ $

,)$&,@#

$=$

# –sss

–sss

$,)$&,@#

$=$

#cG

o !,!%#

,%%!

=!)

&^^

,^%#

=*)

–sss

!,(@)

,@)$

=()

hDdf

!&,*!#

,*@!

=$@

!,#@#

,@)%

=^#

–sss

!(,!#

&,)@

&=)%

lgdf

{0fflw

g k"“h

Lut

vr{

– –sss

–sss

–sss

s"n

!&,*!#

,*@!

=$@

!,#@#

,@)%

=^#

–sss

!(,!#

&,)@

&=)%

ut j

if{ !%,&)

&,!)

)=)%

@,!#!

,*@!

=@#

–sss

!&,*#*

,(@!

=@*

hDd

f

x|f;

s§L

ut j

if{;Dd

o; j

if{Uft

jif{;

Ddsf]

–sss

–sss

–sss

–sss

–sss

–sss

–sss

–sss

–sss

–sss

–sss

–sss

*^%

,)$&=^#

#@!

,&^)

=!#

–sss

!,!*^,*)&

=&^

(&*

,&*)=

#& (

*(,#^

(=!&

((%,#^

#=$(

*$,#&^

=@$

–sss

!,)&(

,&#(

=&#

@%#

,!@*

=&#

##&

,%)$

=(&

!,(#

),($

$=)

! #(!

,*$@=&(

–sss

@,#@@

,&*^=*)

!,@!*

,#%%

=!(

!,$

*!,&!

&=$*

@$),@(

)=&&

@),&(

$=%

^ –sss

@^!

,)*%=

## ^

@,#*

#=^&

*#,!&

*=@#

#,&$

$,&#%

=@(

$!@

,#%^

=(#

–sss

$,!%&

,)(@

=@@

!,^$(,$@&

=&&

!,($$,*

*$=&

!#,!#

#,*!

)=(*

@@*

,#%%

=*^

–sss

#,#^@

,!^^

=*$

^*%,)^

&=%(

(!#

,$@#

=$%

^*#,@&

@=!#

@!$

,&!)

=&#

(,)))

=))

()^

(*@=*^

!,)!#

,@@@

=)$

$&)

,@&*

=(&

!!,%(#

,$^$

=#)

!,^&$

,!(&

=@$

(,)))

=))

!#,@&

^,^^

!=%$

%,*

^),#^%

=#^

^,@@)

,#%^

=(*

–sss

–sss

–sss

–sss

–sss

–sss

!!,%(#

,$^$

=#)

!,^&$

,!(&

=@$

(,)))

=))

!#,@&

^,^^

!=%$

%,*

^),#^%

=#^

^,@@)

,#%^

=(*

(,(%

@,@)

@=%$

!,^$!,@^

!=&^

@%,!)

)=))

!!,%(

#,$^$

=#)

^,@@)

,#%^

=(*

%,&%$

,*(&

=%!

o; j

if{;Dd

sf]v

"b df

]n

laqmL÷

;dfof]h

ghDd

f

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

Ann

exur

e - 2

0

Fix

ed a

ssets

Part

icul

ars

Cos

t pric

e

Ope

ning

Bal

ance

Cur

rent

Yea

r Add

ition

Cur

rent

Yea

r Ded

uctio

n

Land

-aa

a -

aaa

-aa

aB

uild

ing

-aa

a -

aaa

-aa

aFu

rnitu

re a

nd F

ixtu

re 1

,854

,416

.80

311

,171

.33

-aa

a 2

,165

,588

.13

Offi

ce E

quip

men

t 1

,332

,868

.60

-aa

a -

aaa

1,3

32,8

68.6

0C

ompu

ter

and

ED

P 3

,412

,661

.49

128

,480

.50

-aa

a 3

,541

,141

.99

Inta

ngib

le A

sset

s 3

23,4

69.0

0 -

aaa

-aa

a 3

23,4

69.0

0Ve

hicl

e 5

,689

,620

.00

116

,900

.00

-aa

a 5

,806

,520

.00

Leas

e H

old

Ass

ets

4,0

47,2

34.4

3 -

aaa

-aa

a 4

,047

,234

.43

Oth

er(N

atur

e m

enta

ined

) 1

,153

,551

.10

766

,653

.80

-aa

a 1

,920

,204

.90

Tota

l 1

7,81

3,82

1.42

1,3

23,2

05.6

3 -

aaa

19,

137,

027.

05C

apita

l Exp

endi

ture

- W

IP -

-aa

a -

aaa

-aa

aTo

tal

17,

813,

821.

42 1

,323

,205

.63

-aa

a 1

9,13

7,02

7.05

Pre

viou

s Ye

ar 1

5,70

7,10

0.05

2,1

31,8

21.2

3 -

aaa

17,

838,

921.

28

Tota

l

Dep

reci

atio

n

Upt

o Pr

evio

us Y

ear

Cur

rent

Yea

rU

pto

Prev

ious

Yea

r

-aaa

-aa

a -

aaa

-aa

a -

aaa

-aa

a-a

aa -

aaa

-aa

a -

aaa

-aa

a -

aaa

865,

047.

63 3

21,7

60.1

3 -

aaa

1,1

86,8

07.7

6 9

78,7

80.3

7 9

89,3

69.1

799

5,36

3.49

84,

376.

24 -

aaa

1,0

79,7

39.7

3 2

53,1

28.7

3 3

37,5

04.9

71,

930,

944.

01 3

91,8

42.7

9 -

aaa

2,3

22,7

86.8

0 1

,218

,355

.19

1,4

81,7

17.4

824

0,29

0.77

20,

794.

56 -

aaa

261

,085

.33

62,

383.

67 8

3,17

8.23

3,74

4,73

5.29

412

,356

.93

-aa

a 4

,157

,092

.22

1,6

49,4

27.7

7 1

,944

,884

.71

3,13

3,81

0.98

228

,355

.86

-aa

a 3

,362

,166

.84

685

,067

.59

913

,423

.45

683,

272.

13 2

14,7

10.7

3 9

,000

.00

906

,982

.86

1,0

13,2

22.0

4 4

70,2

78.9

711

,593

,464

.30

1,6

74,1

97.2

4 9

,000

.00

13,

276,

661.

54 5

,860

,365

.36

6,2

20,3

56.9

8-a

aa -

aaa

-aa

a -

aaa

-aa

a -

aaa

11,5

93,4

64.3

0 1

,674

,197

.24

9,0

00.0

0 1

3,27

6,66

1.54

5,8

60,3

65.3

6 6

,220

,356

.98

9,95

2,20

2.54

1,6

41,2

61.7

6 2

5,10

0.00

11,

593,

464.

30 6

,220

,356

.98

5,7

54,8

97.5

1

Upt

o C

urre

nt Y

earNet

Pric

e

Sale

/ Adj

ustm

ent

Tota

l

- 48 -

cg';"rL – @!-s_ nufgL

^^^,)#*,(*^=)%!,!(&,%)),)))=))!&%,))),)))=))!^,))),)))=))

!*$,$)),)))=))–sss

&&,$$$,!))=))@%@,#!&,&&)=))

–sss

@,%^*,&)),*%^=)%

–sss*,#*%,&(&=^@!)*,)*!=%&

–sss–sss

*,$(#,*&(=!(

@,%&&,!($,&#%=@$

-s_ bL3{sflng nufgL M! ;/sf/L / ;/sf/sf] hdfgt k|fKt ;]So"l/6L@ jfl0fHo a}+ssf] d'2tL lgIf]k# ljsf; a}+ssf] d'2tL lgIf]k$ gful/s nufgL of]hgf% ljQLo ;+:yfsf] d'2tL lgIf]k^ cfjf; ljQ sDkgLsf] ;fwf/0f z]o/& cGo sDkgLsf] ;fwf/0f z]o/* a}+s tyf ljQLo ;+:yfsf] cu|flwsf/ z]o/÷l8j]Gr/( cGo

hDdf

-v_ cNksflng nufgL M! ;/sf/L / ;/sf/sf] hdfgt k|fKt ;]So"l/6L@ jfl0fHo a}+ssf] Aofh k|fKt x'g] cGo lgIf]k# ljsf; a}+ssf] Aofh k|fKt x'g]] cGo lgIf]k$ ljQLo ;+:yfsf] Aofh k|fKt x'g] cGo lgIf]k% cGo Aofh k|fKt x'g] nufgL

hDdf

s"n

$)#,!^$,(!@=^)!,)#$,))),)))=))@%!,%)),)))=))!^,))),)))=))

!^(,$)),)))=))–sss

(,*%%,##$=))@@@,!%),)))=))

–sss

@,!)^,)&),@$^=^)

–sss@,(!%,!$#=!!!)$,)^#=&#

–sss–sss

#,)!(,@)^=*$

@,!)(,)*(,$%#=$$





/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 49 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report













(A) Long term investment:1 Government Securities & Securities Guranteed by Government 666,038,986.05 403,164,912.602 Fixed deposit of commercial bank 1,197,500,000.00 1,034,000,000.003 Fixed deposit of development bank 175,000,000.00 251,500,000.004 Unit of Citizen Investment Trust 16,000,000.00 16,000,000.005 Fixed diposit of financial institutuion 184,400,000.00 169,400,000.006 Equity share of housing finance company -aaa -aaa7 Equity share of Other company 77,444,100.00 9,855,334.008 Preference share/debenture of bank and financial institution 252,317,770.00 222,150,000.009 Other -aaa -aaa

Total (A) 2,568,700,856.05 2,106,070,246.60

(b) Short term investment1 Government Securities & Securities Guranteed by Government -aaa -aaa2 Interest Bearing Deposit Of Commercial Bank 8,385,797.62 2,915,143.113 Interest Bearing Deposit Of Development Bank 108,081.57 104,063.734 Interest Bearing Deposit of Other Fianancial Institution -aaa -aaa5 Other Interest Bearing Investment -aaa -aaa

Total (B) 8,493,879.19 3,019,206.84

Total (A+B) 2,577,194,735.24 2,109,089,453.44

Annexure - 21

(A) Investment

- 50 -

- 51 -

@,)^&

,(*%=))

!,&**

,)))=

))!,%

@%,%%

)=))

!,()%

,$@$

=))

@,^^*

,((^=)

)!,*

($,&)

)=))

#,!$*

,@))=

))&,*

)),))

)=))

#,#&#

,(@)=

))$,

(%^,*

(#=)

)(%

^,$&%

=))

(#%,$

))=)

)#(

^,)))

=))

$%^,)

))=)

)!,)

##,*%(

=))

&$&,!

^)=)

)#,^

)),)))

=))

#&,)!

*,(^

)=))

(!(,%

))=)

)#(

,^))=

))%!

*,$%

^=))

^(),&(

@=))

&*,$

$!,*&)

=))

$$#,(

))=)

)$@

),))

)=))

$(*,%)

)=))

!%),^

))=)

)@#

(,$))

=))

%@(,@

))=)

)#!

!,@))

=))

@)),)

))=)

)!&

),$))

=))

!&$,

)))=

))(&

,%))=

))^)

,)))

=))

@)),)

))=)

)!)

),)))

=))

!)#,#

))=)

)!@

!,*))

=))

^)),))

)=))

^@#,)

))=)

)@)

),)))

=))

!,)))

=))

^^,^)

)=))

%#,*))

=))

%,#^$

,@))=)

)

@,)^&

,(*%=))

!,&**

,)))=

))!,%

@%,%%

)=))

!,()%

,$@$

=))

@,^^*

,((^=)

)!,*

($,&)

)=))

#,!$*

,@))=

))&,*

)),))

)=))

#,%&$

,^))=

))$,

(%^,*

(#=)

)((

&,&&)

=))

(*$,

)))=

))(#

^,)))

=))

$%^,)

))=)

)!,)

##,*%(

=))

&$&,!

^)=)

)#,^

)),)))

=))

#&,)!

*,(^

)=))

(!(,%

))=)

)#(

,^))=

))%!

*,$%

^=))

&@@,)

#(=)

)

&(,#)

#,^(@

=))

$,$^

!,!(%

=))

^,%^)

,$))

=))

%,&$@

,&@)=

))@,@

&%,%^

^=))

%,^@%

,())=

))&,%

^&,%^

)=))

&,^@$

,$))

=))

!),%%

),)))

=))

#,#&#

,(@)=

))%,$

$(,^*

)=))

(%^,$

&%=)

)(#

%,$))

=))

#(^,)

))=)

)^#

!,)))

=))

!,#)^

,&$%=))

!,)$!

,#()=

))%,$

)),)))

=))

$@,%%

),()

)=))

!,((^

,)))

=))

$),#(

)=))

%&@,&

^)=)

)^(

),&(

@=))

!!%,&$(

,!(#=)

)

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

f

;'/]Gb|

e'if0f

>]i7,

Pkm=

;L=P=

al/i7

;fe]mbf

/cf

/= ah

|frfo{

P08

sDkg

Lrf

6{8 P

sfp0

6]06

!s'd

f/L a

}+s ln

= sf] $

$#(

yfg

z]o/ -*

** ls

Qf a

f]g;

z]o/ ;l

xt_

@lr

lnd]

xfO8«f

] kfj/ sD

kgLs

f] $@)

) yf

g ;f

wf/0

f z]o/

#l;

¢fy{

a}+s ln

sf] $

(*%y

fg ;

fwf/0

f z]o/

-%$!

Af]fg;

z]o/ ;l

xt_

$g]k

fn P

;= la

= cfO=

a}+s

ln= s

f] !%)

^ yf

g ;f

wf/0

f z]o/

-#()

af]g;

z]o/ ;l

xt_

%a}+s

ckm

sf7d

f08f} l

n sf

] @#(

$ yf

g ;f

wf/0

f z]o/

^;f

lgdf l

jsf;

a}+s

ln= s

f] %@(

@ yf

g ;f

wf/0

f z]o/

&g]k

fn Oge

]i6d]G

6 a}+s

ln= s

f] #!!

@ yf

g ;f

wf/0

f z]o/

-$!@

af]g;

z]o/ ;l

xt_

*gla

n a}+s

ln=s

f] @))

) yf

g ;f

wf/0

f z]o/

-;+:y

fks z

]o/_

(lxd

fnog

a}+s

ln= s

f] !&)

$ yf

g z]o

/!)

Pe/]i6

a}+s

ln= s

f] !&$

) yf

g ;f

wf/0

f z]o/

!!Pe

/]i6 a

}+s ln

= sf] (

&% y

fg c

3|flwsf

/ z]o

/!@

a'6jn

kfj/ sD

kgL ln=

sf] ̂

)) y

fg ;

fwf/0

f z]o/

!#g]z

gn x

fO8«f] k

fj/ sD

kgL ln

= sf] @

)))

yfg

;fwf/0

f z]o/

!$n'l

DjgL

a}+s ln

= sf] !

)))

yfg

;fwf/0

f z]o/

!%df

5fk'R

5«] a}+s

ln= s

f] !)#

# yfg ;

fwf/0

f z]o/

!^l8

;LlaPn

a}+s

ln= s

f] !@!

* yf

g ;f

wf/0

f z]o/

!&Pg

Pdla a

}+s ln

= sf] ^

)))

yfg

;fwf/0

f z]o/

!*:6

«of08

8{ rf

6{8 a

}+s ln

= sf] ̂

@#)

yfg

;fwf/0

f z]o/

!(ls

i6 d

r]{G6

a}+ls·

P08

kmfO

gfG;

sDk

gL ln

= sf] @

)))

yfg

;fwf/0

f z]o/

@)o'lg

lnj/

g]kfn

ln= s

f] !)

yfg

;fwf/0

f z]o/

@!P;

ljsf

; a}+s

ln= s

f] ^^^

yfg ;

fwf/0

f z]o/

@@Pg

cfO;

L a}+s

ln= s

f] %#*

yfg ;

fwf/0

f z]o/

hDdf

cg';

"rL –

@!

-v_

z]o

/df

nu

fgL

qm=;

+=ah

f/ d

"Noc+ls

t d"N

ok/

n d

"Nov'b

/sd

sDk

gL

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

- 52 -

As p

er o

ur re

port

of e

ven

date

Sure

ndra

Bhu

san

Shre

stha

, FCA

Sr. P

artn

erFo

r R. B

ajra

char

ya &

Co.

Char

tere

d Ac

coun

tant

sBi

pin

Kum

ar L

alFi

nanc

e Offi

cer

Devo

jit S

anya

lAs

st. G

ener

al Ma

nage

r M

ural

eedh

aran

. PCE

O/Di

rect

orRa

jend

ra A

ryal

Dire

ctor

S.K.

Muk

harje

eDi

rect

orAs

hok A

graw

alDi

rect

orA.

K. D

as G

upta

Dire

ctor

T. S

. Vija

yan

Chair

man

1K

umar

i Ban

k Lt

d. 4

439

Uni

t of S

hare

(Incl

udin

g 88

8 U

nit o

f Bon

us S

hare

)2,

067,

985.

00 4

43,9

00.0

0 2

,067

,985

.00

4,4

61,1

95.0

02

Chi

lime

Hyd

ro P

ower

Co.

Ltd

. 420

0 U

nit O

f Sha

re1,

788,

000.

00 4

20,0

00.0

0 1

,788

,000

.00

6,5

60,4

00.0

03

Sid

dhar

tha

Ban

k Lt

d. 4

985

Uni

t of S

hare

(Incl

udin

g 54

1 U

nit o

f Bon

us S

hare

)1,

525,

550.

00 4

98,5

00.0

0 1

,525

,550

.00

5,7

42,7

20.0

04

Nep

al S

BI B

ank

Ltd.

150

6 U

nit o

f Sha

re(In

clud

ing

390

Uni

t of B

onus

Sha

re)

1,90

5,42

4.00

150

,600

.00

1,9

05,4

24.0

0 2

,275

,566

.00

5B

ank

Of K

athm

anu

Ltd.

2394

Uni

t of S

hare

2,6

68,9

96.0

0 2

39,4

00.0

0 2

,668

,996

.00

5,6

25,9

00.0

06

San

ima

Bik

ash

Ban

k Lt

d. 5

292

Uni

t of S

hare

1,89

4,70

0.00

529

,200

.00

1,8

94,7

00.0

0 7

,567

,560

.00

7N

epal

Inve

stm

ent B

ank

Ltd.

3112

Uni

t of S

hare

(Incl

udin

g412

Uni

t of

Bon

us S

hare

) 3

,148

,200

.00

311

,200

.00

3,1

48,2

00.0

0 7

,624

,400

.00

8N

abil

Ban

k Lt

d.20

00 U

nit o

f Sha

re (

Pro

mot

er)

7,80

0,00

0.00

200

,000

.00

7,8

00,0

00.0

0 1

0,55

0,00

0.00

9H

imal

ayan

Ban

k Lt

d.17

04 U

nit o

f Sha

re3,

373,

920.

00 1

70,4

00.0

0 3

,574

,600

.00

3,3

73,9

20.0

010

Eve

rest

Ban

k Lt

d.17

40 U

nit o

f Sha

re4,

956,

893.

00 1

74,0

00.0

0 4

,956

,893

.00

5,4

49,6

80.0

011

Eve

rest

Ban

k Lt

d.97

5 U

nit o

f Pre

fere

nce

Sha

re C

P95

6,47

5.00

97,

500.

00 9

97,7

70.0

0 9

56,4

75.0

012

But

wal

Pow

er C

o. L

td.6

00 U

nit o

f Sha

re93

5,40

0.00

60,

000.

00 9

84,0

00.0

0 9

35,4

00.0

013

Nat

iona

l Hyd

ro P

ower

Co.

Ltd

.200

0 U

nit o

f Sha

re39

6,00

0.00

200

,000

.00

936

,000

.00

396

,000

.00

14Lu

mbi

ni B

ank

Ltd.

1000

Uni

t of S

hare

456,

000.

00 1

00,0

00.0

0 4

56,0

00.0

0 6

31,0

00.0

015

Mac

hcha

puch

re B

ank

Ltd.

1033

Uni

t of S

hare

1,03

3,85

9.00

103

,300

.00

1,0

33,8

59.0

0 1

,306

,745

.00

16D

CB

L B

ank

Ltd.

1218

Uni

t of S

hare

747,

160.

00 1

21,8

00.0

0 7

47,1

60.0

0 1

,041

,390

.00

17N

MB

Ban

k Lt

d.60

00 U

nit o

f Sha

re3,

600,

000.

00 6

00,0

00.0

0 3

,600

,000

.00

5,4

00,0

00.0

018

Stan

dard

Cha

rtere

d B

ank

Nep

al L

td.6

230

Uni

t of S

hare

37,0

18,9

60.0

0 6

23,0

00.0

0 3

7,01

8,96

0.00

42,

550,

900.

0019

Kis

t Mer

chan

t Ban

king

& F

inan

ce L

td.2

000

Uni

t of S

hare

919,

500.

00 2

00,0

00.0

0 9

19,5

00.0

0 1

,996

,000

.00

20U

nile

ver N

epl L

td.1

0 U

nit o

f Sha

re39

,600

.00

1,0

00.0

0 3

9,60

0.00

40,

390.

0021

AC

E D

evel

opm

ent B

ank

Ltd.

666

Uni

t of S

hare

518,

456.

00 6

6,60

0.00

518

,456

.00

572

,760

.00

22N

IC B

ank

Ltd.

538

Uni

t of S

hare

690,

792.

00 5

3,80

0.00

722

,039

.00

690

,792

.00

Tota

l78

,441

,870

.00

5,3

64,2

00.0

0 7

9,30

3,69

2.00

115

,749

,193

.00

Note

:1)

In

sure

r's in

vest

men

t in

shar

e of

si

ster

/Hol

ding

com

pany

and

join

t inv

estm

ent c

ompa

ny h

as to

be

men

tione

d se

para

tely

.2)

in

vest

men

t mad

e in

sha

re n

ot e

nlis

ted

as p

er r

ule

has

to b

e m

entio

ned

sepe

retly

.3)

S

eper

atel

y to

be

disc

lose

d of

pro

mot

or s

hare

and

oth

er o

rdin

ary

shar

e.

Ann

exur

e - 2

1 co

nd.

(B

) I

nvestm

en

t in

sh

are

com

pany

S.N.

Purc

hase

pric

eM

arke

t Pr

ice

Face

Val

ueN

et A

mou

nt

cg';"rL – @@gub tyf a}+s df}Hbft

! gub df}Hbft &,$((,&!%=$( @,@!*,@^#=*)

hDdf &,$((,&!%=$( @,@!*,@^#=*)

@ a}+s df}Hbftjfl0fHo a}+sx?sf] df}Hbft $$,)^@,)@#=)! $!,*%!,#@@=!&ljsf; a}+sx?sf] df}Hbft !,!@%,!@*=^) !,@!*,!*^=%^ljQLo ;+:yfx?sf] df}Hbft –sss –ssscGo –sss –sss

hDdf $%,!*&,!%!=^! $#,)^(,%)*=&#

s"n %@,^*^,*^&=!) $%,@*&,&&@=%#


cg';"rL – @#cGo shf{


!= clestf{nfO{ shf{ !^,)(#,&))=^@ *,@$!,^%$=#)@= sd{rf/LnfO{ shf{ @,*^%,&*(=)) !,$((,%*%=))#= cGo –sss –sss

hDdf !*,(%(,$*(=^@ (,&$!,@#(=#)




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 53 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report












S.N. Particular Current year Previous year

1 Loan to Agents 16,093,700.62 8,241,654.302 Loan to Employees 2,865,789.00 1,499,585.003 Other

Total 18,959,489.62 9,741,239.30

Annexure - 23

Other Loan


1 Cash Balance 7,499,715.49 2,218,263.80

Total (A) 7,499,715.49 2,218,263.80

2 Bank BalanceDeposit In Commercial Banks 44,062,023.01 41,851,322.17Deposit In Development Banks 1,125,128.60 1,218,186.56Deposit in Financial Institutions -aaa -aaaOther -aaa -aaa

Total (B) 45,187,151.61 43,069,508.73

Total (A+B) 52,686,867.10 45,287,772.53

Annexure - 22

Cash and Bank Balance

- 54 -

#!,()@,&&$=^!$,(!(,%*$=)!


%^,@*@,^(%=@*@!,^!@=))

^),^**=%&@@#,%))=))

–sss–sss–sss

(#,$!),*%$=$&

@*,((&,^!$=!@!,&!$,##%=@)

–sss##@,)!)=))*#*,##^=))

–sss#%,##!,$@(=$$

#@,%^#=))#&&,(!$=&%!!*,%))=))

–sss–sss–sss

^&,&$@,&)@=%!

! nufgLaf6 k|fKt x'g af“sL cfo@ aLdfn]vsf] lwtf]df shf{af6 k|fKt x'g af“sL Aofh# cGo -aLdfn]vsf] lwtf]df afx]s_ shf{af6 k|fKt x'g af“sL Aofh$ cGo aLdsaf6 k|fKt x'g af“sL% k'gaL{dsaf6 k|fKt x'g af“sL^ ljljw cf;fdL& clu|d e'QmfgL* sd{rf/L k]ZsL( cGo k]ZsL!) w/f}6L!! c;'n x'g af“sL aLdfz'Ns!@ Go"gM c;'n x'g af“sL aLdfz'Ns d'NtjL (suspense)!# cGo

hDdf

cg';"rL – @$cGo ;DklQ


#,(!(,!)%=(^–sss

!,@##,((%=@$^,(!@,^*^=&(

@$,&^@,)&%=*%$,%(#,@@^=!(

–sss–sss

$,&$&,!%$=!@$!,$)%,^@$=@((,))^,*@&=))%)(,!*(=*!

–sss^^^,)&%=))

#&,%)),)))=))

!#%,@%%,(^)=@%

!,^(*,^$^=$@–sss

!,#)(,@&#=!^#,(&),^$(=&$@!,#!!,$$#=((@,&&),@@(=($

@#(,)@*,(^*=$)$,&)%,**@=))

@$$,!((=!!@@,)@$,#)#=#@&,@$@,%%&=%)

–sss–sss

$#&,!))=))–sss

#)$,&$#,@%#=%*

! clestf{nfO{ lbg af“sL@ cGo aLdsnfO{ lbg af“sL# k'gaL{dsnfO{ lbg af“sL$ aLdfz'Ns w/f}6L% k"0f{ ljj/0f gv'n]sf] aLdfz'Ns^ ljljw ;fx"& cNksflng ;fk6L* ;xfos÷xf]lN8· sDkgLnfO{ lbg af“sL( >f]tdf s§f ul/Psf] s/ ltg{ af“sL!) cfos/ ltg{ af“sL!! ;]jf z'Ns ltg{ af“sL!@ sd{rf/LnfO{ lbg af“sL!# ;+rfnsnfO{ lbg af“sL!$ sd{rf/L ;'ljwf ;DaGwL Joj:yf!% cGo -nfef+z e'StfgL ug{ af“sL_

hDdf

cg';"rL – @%rfn' bfloTj





/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 55 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report












S.N. Particular Current Year Previous Year

1 Interest Receivable Against Investment 31,902,774.61 28,997,614.122 Interest Receivable Against Policy Loan 4,919,584.01 1,714,335.203 Other Interest Receivable against loan(except of Policy Loan) -aaa -aaa4 Receivable From Other Insurer (Insurance Pool) -aaa 332,010.005 Due from re-Insurer -aaa 838,336.006 Miscellaneous Debtors -aaa -aaa7 Advance Tax 56,282,695.28 35,331,429.448 Staff advance 21,612.00 32,563.009 Other advance 60,688.57 377,914.7510 Security Deposit 223,500.00 118,500.0011 Outstanding insurance premuim -aaa -aaa12 Less: outstanding insurance premium suspense -aaa -aaa13 Others -aaa -aaa

Total 93,410,854.47 67,742,702.51

Annexure - 24Other Assets


1 Due to Agent 3,919,105.96 1,698,646.42 Due to other Insurer -aaa -aaa3 Due to re-insurer 1,233,995.24 1,309,273.164 Deposit Premium 6,912,686.79 3,970,649.745 Unidentified Premium 24,762,075.85 21,311,443.996 Miscellaneous creditor 4,593,226.19 2,770,229.947 Short term loans -aaa 239,028,968.408 Due to Associate/Holding company -aaa 4,705,882.009 TDS Payable 4,747,154.12 244,199.1110 Income Tax Payable 41,405,624.29 22,024,303.3211 Service Charges Payable to Beema Samiti 9,006,827.00 7,242,557.5012 Payable To Employee (Bonus) 509,189.81 -aaa13 Payable To Directors -aaa -aaa14 Provision for employee benefit (Gratuity) 666,075.00 437,100.0015 Others -aaa -aaa

Dividend Payable 37,500,000.00 -aaa

Total 135,255,960.25 304,743,253.58

Annexure - 25Current Liability

- 56 -

cg';"rL – @^c;dfKt hf]lvd Joj:yf


–sss–sss–sss

–sss

–sss–sss–sss

–sss

! =============== aLdfsf] c;dfKt hf]lvd hu]8f@ =============== aLdfsf] c;dfKt hf]lvd hu]8f# =============== aLdfsf] c;dfKt hf]lvd hu]8f

hDdf

cg';"rL – @&ckn]vg÷;dfof]hg x'g af“sL ljljw vr{x?


–sss–sss

%%,)@$,!!&=!)–sss

%%,)@$,!!&=!)

–sss–sss

#*@,&(^,^^$=@&–sss

#*@,&(,^^$=@&

! ckn]vg ug{ af“sL k|f/lDes vr{@ ckn]vg ug{ af“sL k"j{ ;+rfng vr{# ckn]vg ug{ af“sL :yug ul/Psf vr{$ cGo

hDdf




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




- 57 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report













1 Unxpired risk provision of ……………… insurance -aaa -aaa2 Unxpired risk provision of ……………… insurance -aaa -aaa3 Unxpired risk provision of ……………… insurance -aaa -aaa

Total -aaa -aaa

Annexure - 26

Provision for Unexpired Risk


1 Preliminaryry expenditure (To the extent not written off) -aaa -aaa2 Pre-operation expenditure (To the extent not written off) -aaa -aaa3 Deferred expenses(To the extent not written off) 55,024,117.10 38,279,664.274 Other (To the extent not written off) -aaa -aaa

Total 55,024,117.10 38,279,664.27

Annexure - 27

Miscellaneous expenses (To the not adjusted /amortize)

- 58 -

Annexure - 28


Significant Accounting Policies

Background of the Company :

Life Insurance Corporation (Nepal) Limited was establishedunder the Companies Act of Nepal on December 26, 2000.The principal promoters of the company are Life InsuranceCorporation of India (55%) and Vishal Group of Nepal (25%).The General Public holds 20% shares in the company. Thecompany is licensed and monitored by Insurance Board ofNepal and commenced its operation on September 1, 2001.

Significant Accounting Policies :

1. Basis of Accounting : Financial Statements areprepared in accordance with the historical costconvention, an accrual basis of accounting (exceptotherwise disclosed otherwise) and in accordance withrelevant Nepalese Accounting Standards, presentationrequirements of the Company Act, 2063 and InsuranceRules 2049 and Financial Directives 2065 of InsuranceBoard of Nepal.

2. Fixed Assets : Fixed Assets are accounted inaccordance with historical cost concept.

3. Depreciation : Fixed Assets are depreciated ondiminishing balance method at the rate prescribed byIncome Tax Act 2058, and as considered adequate bythe management.

4. Non Capitalized Assets : Capital Items for less thanRs. 2000/- has been treated as Revenue Expenditureand charged to Profit & Loss Account in the year ofpurchase.

5. Income Tax Provision and Appropriation : Incometax provision has been made at the rate prescribed byIncome tax act 2058 on the surplus derived from theincome from other than insurance business after

cg';"rL – @*

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=

ljQLo ljj/0f;+u ;DalGwt k|d'v n]vf gLltx?

sDkgLsf] k[i7e'ld M

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln= sDkgL P]g cg';f/ @^l8;]Dj/ @))) df :yfkgf ul/Psf] xf] . o; sDkgLsf k|d'v;+:yfks z]o/wgLx?df ef/tLo hLjg aLdf lgud -%%%_/ ljzfn u|'k -@%%_ sf] nufgL /x]sf] 5 . o; sDkgLdf;j{;fwf/0fsf] @)% z]o/ /x]sf] 5 . of] ;+:yf aLdf ;ldtLaf6Ohfht kq k|fKt eO{ / ;f] ;ldltaf6 cg'udg ug]{ hLjg aLdfsDkgL xf] . ! ;]K6]Dj/ @))! b]lv sDkgL ;+rfngdf cfPsf]lyof] .

k|d'v n]vf gLltx? M

!= n]vfdfgsf cjwf/0fx? M ljQLo ljj/0fx? P]ltxfl;s nfutl;4fGt tyf :ki6 ?kdf pNn]v ul/Psf] cj:yfdf afx]sk|f]befjL (Accrual) l;4fGtsf] cfwf/df laBdfg g]kfnn]vfdfgx?, sDkgL P]g @)^#, aLdf lgodfjnL @)$( /aLdf ;ldltsf] laBdfg ljQLo ljj/0f ;DjlGw lgb]{zg@)^% cg';f/ tof/ ul/Psf] 5 .

@= l:y/ ;DklQ n]vf°g gLlt M l:y/ ;DklQnfO{ P]ltxfl;sd"No cjwf/0ff cg';f/ n]vf°g ul/Psf] 5 .

#= x|f; s§L gLlt M l:y/ ;DklQdf 36\bf] x|f; k|0ffnLsf]cfwf/df cfos/ P]g @)%* df tf]lsPsf] b/n] x|f; s§Lul/Psf] 5 / o;nfO{ sDkgL Aoj:yfkgn] kof{Kt 7fg]sf] 5 .

$= k“ "hLs[t gul/g] ;DklQx? ;DjlGw n]vf°g gLlt M¿= @,))).)) eGbf sd d"No kg]{ k'“hLut ;fdfgsf]vl/bnfO{ vl/b u/]sf] jif{df g} gfkmf gf]S;fg lx;fadf vr{n]lv n]vf°g ug]{ gLlt lnOPsf] 5 .

%= cfos/ Joj:yf tyf af“8kmF“8 gLlt M cfos/ Joj:yf;DaGwdf aLdf Aoj;fo afx]ssf] cfDbfgLdf Aoj:yfkgvr{ / :yug vr{nfO{ 36fO cfPsf] artdf cfos/ P]g

- 59 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

deducting management expenditure and deferredexpenditure. Income Tax has been divided into Profit &Loss Account and Income Expenditure Account as perthe derived weightages of Profit & Loss Account andIncome & Expenditure Account as prescribed byfinancial directives 2065 of Insurance Board of Nepal.

6. Policy on Investment Accounting :

a. Accounting Policy regarding Investment inGovernment Saving Bond/ Debenture inPublic Companies : As per Financial directives2065 of Insurance Board of Nepal, the companyhas adopted the policy of accounting for investmentmade in Government Saving Bonds andDebentures at cost price or face value which everis less. In case cost price is higher than face value,such excess amount has been accounted asdeferred expenses and amortized within thetenure of Bond / Debenture and in case face valueis higher than cost price, such amount has beenaccounted as gain on investment on accrualbasis. If the market price of such investment isless than the book value, provision on Investmenthas been made for the shortfall amount.

b. Accounting Policy of investment made inFixed Deposit of Banks/ Financial Institutions :As per Financial directives 2065 of InsuranceBoard of Nepal, such investment amount has beenaccounted on principal amount.

c. Accounting Policy of Investment made inShares of public Companies : The investmentmade in ordinary shares of public companies hasbeen accounted on market price or cost pricewhich ever is less. In case the market price isless than cost price, provision for loss oninvestment has been made by the company.

d. Accounting Policy of Investment made inDebentures of Public Companies : As perFinancial directives 2065 of Insurance Board ofNepal, the company has adopted the policy of

@)%* cg';f/s} b/af6 cfos/ Aoj:yf ul/Psf] 5 .ljQLo ljj/0f ;DaGwdf aLdf ;ldtLsf] lgb]{zg @)^%cg';f/ ef/ lgwf{/0f u/L s"n cfos/ /sdnfO{ gfkmfgf]S;fg lx;fa / cfo Aoo lx;fadf lgwf{l/t ef/sf] cg'kftdfaf“8kmf“8 ul/Psf] 5 .

^= nufgL n]vf°g gLlt M

s_ ;/sf/L artkq÷C0fkqdf nufgL n]vf°g gLlt MljQLo ljj/0f ;DjlGwt aLdf ;ldtLsf] lgb]{zg @)^%cg';f/ sDkgLn] ;/sf/L artkq÷C0fkqdf ul/Psf]nufgLnfO{ nfut d"No jf c+lst d"No dWo] h'g sd5 ;f]xL b/df n]vf°g ug]{ gLlt lnPsf] 5 . c+lstd"No eGbf nfut d"No al9 ePsf] v08df To:tf] al9/sdnfO{ :yug vr{df /fvL To:tf] artkq÷C0fkqsf]e'QmfgL cjlw leq k|To]s aif{ ;dfg'kflts ?kdf vr{n]lvg] / nfut d"No eGbf c+lst d"No al9 ePsf]v08df To:tf] /sdnfO{ k|f]befjL (Accrual) cfwf/dfnufgLdf d'gfkmf lzif{s cGt/ut n]vf°g ug]{ gLltlnOPsf] 5 . o:tf] nufgLsf] ahf/ d"No lstfaL d"NoeGbf sd ePdf sd ePsf] /sd a/fa/ ;DefljtnufgL gf]S;fgL Aoj:yfdf hDdf ug]{ u/]sf]] 5 .

v_ a}+s÷ljQLo ;+:yfsf] d'2tL lgIf]kdf nufgL n]vf°ggLlt M ljQLo ljj/0f;+u ;DjlGwt aLdf ;ldtLsf]lgb]{zg @)^% cg';f/ sDkgLn] a}+s÷ljQLo ;+:yfsf]d'2tL lgIf]kdf u/]sf] nufgLnfO{ ;f“jf /sddf n]vf°gug]{ gLlt lnPsf] 5 .

u_ klAns lnld6]8 sDkgLsf] z]o/df nufgL n]vf°ggLlt M klAns lnld6]8 sDkgLsf] ;fwf/0f z]o/dful/Psf] nufgLnfO{ nfut d"No jf ahf/ d"No h'gsd 5 ;f]xL cg';f/ n]vf°g ul/Psf] 5 . nfut d"NoeGbf ahf/ d"No sd ePsf] cj:yfdf sd ePsf]/sd a/fa/ ;Defljt nufgL gf]S;fgL Aoj:yfdfhDdf ug]{ u/]sf] 5 .

3_ klAns lnld6]8 sDkgLn] hf/L u/]sf] C0fkqx?dfnufgL n]vf°g gLlt M ljQLo ljj/0f ;DalGwt aLdf

- 60 -

accounting for investment made in Bonds andDebentures of public Companies on cost price orface value which ever is less. In case cost price ishigher than face value, such excess amount hasbeen accounted as deferred expenses andamortized within the tenure of Bond / Debentureand in case face value is higher than cost price,such amount has been accounted as gain oninvestment on accrual basis. If the market price ofsuch investment is less than the book value,provision on Investment has been made for theshortfall amount.

7. Adjustment Policy for Exchange Fluctuation : Thecompany has no such assets and liabilities in foreignexchange this year.

8. Accounting Policy on Premium Income : PremiumIncome has been recognized on cash basis as requiredby Insurance Act. This is not in arrangement with NepalAccounting Standards, which requires recognition ofincome under accrual basis.

9. Accounting Policy on Re-Insurance Commission :Regular Re-insurance commissions are recognized onaccrual basis and profit commissions of Re-insuranceare recognized on cash basis and no suchcommission has been received in this year.

10. Accounting Policy on Other Income andallocation : Interest income has been recognized onaccrual basis. Dividend income has been recognizedon cash basis and interest on Call Deposit has beenrecognized on accrual basis. Allocation of this type ofincome has been as per the financial directives 2065 ofInsurance Board of Nepal.

11. Loan against Insurance Policies and Others :Income on loan against insurance policies areaccounted on accrual basis and other loans providedto agents and staffs are recognized on cash basis.

12. Management Expenditure allotment policy : As perFinancial directives 2065 of Insurance Board of Nepal,

;ldltsf] lgb]{zg @)^% cg';f/ sDkgLn] klAnslnld6]8 sDkgLn] hf/L u/]sf] C0fkqx¿df u/]sf]nufgLnfO{ nfut d"No jf c+lst d"No dWo] h'g sd5 ;f]xL b/df n]vf°g ug]{ gLlt lnPsf] 5 . nfutd"No c+lst d"No eGbf al9 ePsf] cj:yfdf To:tf]al9 /sdnfO{ :yug vr{ b]vfO{ ;f] C0fkq e'StfgLsf]cjlw el/df ;dfg'kflts ¿kn] vr{ hgfpg] / nfutd"No c+lst d"No eGbf sd ePdf To:tf] km/s/sdnfO{ nufgLdf d'gfkmf lzif{s cGtu{t cfDbfgLafWg] gLlt lnOPsf] 5 . olb ahf/ d"No lstfaL d"NoeGbf sd ePdf To:tf] sd /sdsf] nfuL ;DefljtnufgL gf]S;fgL Aoj:yfdf hDdf ug]{ u/]sf] 5 .

&= ;6xL 36a9 ;dfof]hg gLlt M o; aif{ lab]zL d'b|fdfsDkgLsf] s'g} ;DkQL jf bfloTj /x]sf] 5}g .

*= aLdfz'Ns cfDbfgL n]vf°g gLlt M aLdfz'Ns cfDbfgLlx;fa aLdf P]g cg';f/ gub k|flKtsf] cfwf/df n]vf°gul/Psf] 5 . g]kfn n]vfdfg cg';f/ k|f]befjL (Accrual)

cfwf/df cfDbfgL n]vf°g x'g' kg]{df ;f] gePsf]n] n]vfdfgn]Aoj:yf u/] cg';f/ ePsf] 5}g .

(= k'gaL{df sldzg cfDbfgL n]vf°g gLlt M aLdsn] k'gaL{dfu/] afkt k|fKt ug]{ lgoldt sldzgsf] n]vf°g ubf{ k|f]befjL(Accrual) cfwf/df ul/g] gLlt lnOPsf] 5 eg] k'gaL{dfjfktsf] d'gfkmf sldzg gub k|fKtLsf] cfwf/df n]vf°gug]{ gLlt /x]sf] 5 / of] aif{ sDkgLn] o:tf] sldzg afkts'g} /sd k|fKt u/]sf] 5}g .

!)= cGo cfo n]vf°g tyf af“8kmF“8 gLlt M Aofh cfDbfgLnfO{k|f]befjL (Accrual) cfwf/df n]vf°g ul/Psf] 5 . nfef+zcfDbfgLnfO{ gub k|fKtLsf] cfwf/df n]vf°g ul/Psf] 5 /a}+ssf] sn vftfaf6 k|fKt Aofh cfDbfgLnfO{ k|f]befjL(Accrual) cfwf/df n]vf°g ul/Psf] 5 . ljQLo ljj/0f;DjlGwt aLdf ;ldtLsf] lgb]{zg @)^% cg';f/ o:tf] ;a}cfDbfgLsf] af“8kmf“8 ug]{ gLlt lnOPsf] 5 .

!!= shf{ n]vf°g gLlt M aLdfn]vsf] lwtf]df k|bfg u/]sf]shf{df k|fKt Aofh cfDbfgLsf] k|f]befjL (Accrual) cfwf/df

- 61 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

10% of management expenditure incurred during theyear has been allotted to Profit & Loss Account andrest 90% has been allotted to Income & ExpenditureAccount.

13. Accounting Policy on Claim Payment : Insuranceclaim has been accounted on accrual basis.

14. Accounting Policy on provision for insuranceclaim :

a. The company has not made any provision for IBNRinsurance claim.

b. The company has made provision for 115% ofoutstanding claim as per Insurance rules 2049,section 15 (D).

15. Surplus Allotment Policy on Insurance Business :The company has adopted the policy regarding surplusallotment on insurance business as per Financialdirectives 2065 of Insurance Board of Nepal.

16. Accounting Policy regarding Employee gratuity,Leave and Other Facilities : Employee Gratuityaccounted on accrual basis and leave and otherfacilities are accounted on cash basis at the time ofpayment.

17. Policy on Doubtful Debts : The company has not madeany such provision for doubtful debts in the F. Y. 2065.

18. Amortization Policy :

a. Accounting Policy for Deferred RevenueExpenditure :

Deferred Revenue Expenditure is provided foramortization over five year period from the date ofcommercial operation. According to the policy allthe expenses are amortized.

b. Premium paid on acquisition of governmentsecurities (Investment) is amortized over thematurity period of investment. During the year, thecompany has purchased NRB Bonds by paying

n]vf°g ul/Psf] tyf clestf{ / sd{rf/LnfO{ k|bfgul/Psf] shf{df k|fKt cfDbfgL gub k|flKtsf] cfwf/dfn]vf°g ul/Psf] 5 .

!@= Joj:yfkg vr{ af“8kmF“8 gLlt M ljQLo ljj/0f ;DjlGwtaLdf ;ldtLsf] lgb]{zg @)^% cg';f/ s"n Aoj:yfkg vr{sf]!) k|ltzt /sd gfkmf gf]S;fg lx;fadf ;fl/Psf] / ()k|ltzt /sdnfO{ cfo Aoo lx;fadf ;fl/Psf] 5 .

!#= aLdf bfjL e'QmfgL vr{ n]vf°g gLlt M aLdf bfjL e'QmfgLvr{ ubf{ k|f]befjL (Accrual) cfwf/df n]vf°g ul/Psf] 5 .

!$= aLdf bfjL afkt bfloTj Joj:yf n]vf°g gLlt M

s_ sDkgLn] of] aif{ IBNR aLdf bfaL afkt s'g} /sdAoj:yf u/]sf] 5}g .

v_ aLdf lgodfjnL @)$( sf] v08 !% -3_ cg';f/aLdf bfjL bfloTj afkt e'QmfgL x'g af“sL d[To'bfaLsf]/sd sf] !!% k|ltztsf] b/n] Joj:yf ug]{ gLltlnOPsf] 5 .

!%= aLdf Joj;fodf art af“8kmF“8 gLlt M ljQLo ljj/0f;DjlGwt aLdf ;ldtLsf] lgb]{zg @)^% cg';f/ sDkgLn]aLdf Joj;fodf art af“8kmf“8 ug]{ gLlt lnPsf] 5 .

!^= sd{rf/L pkbfg, ljbf tyf cGo ;'ljwf afkt Joj:yfgLlt M sd{rf/L pkbfg jfktsf] /sdnfO k|f]befjL (Accrual)

cfwf/df / labf / cGo ;'ljwf afktsf] /sdnfO{ gube'StfgLsf] cfwf/df n]vf°g ul/Psf] 5 .

!&= z+sf:kb cf;fdL Joj:yf gLlt M of] aif{ sDkgLn] z+sf:kbcf;fdLsf] nfuL s'g} /sd Aoj:yf u/]sf] 5}g .

!*= ckn]vg vr{ n]vf°g gLlt M

s_ :yug vr{sf] ckn]vg vr{ n]vf°g gLlt M

:yug vr{nfO{ vr{ n]v]sf] ldltaf6 % aif{df ckn]vgug]{ gLlt cg';f/ ckn]vg vr{ hgfOPsf] 5 .

v_ ;/sf/L C0fkqsf] vl/bdf e'StfgL ul/Psf] lk|ldod/sdnfO{ ;f] C0fkqsf] e'Stfg cjlw leq ckn]vg

- 62 -

premium of Rs. 21,107.71 thousand against theface value of Rs. 291,975 thousand. As per thepolicy taken total 4,363.32 thousand has beenamortized this year.

19. Other Policy : The financial Statement have beenprepared in accordance with new financial directives2065 of Insurance Board of Nepal as mentioned abovein number 5 and 12. The effect of such change inaccounting policies to Surplus of revenue transferred tolife fund is Rs. (-1929) thousand.

ul/g] gLlt /x]sf] 5 . of] aif{ sDkgLn] c+lst d"No@(!,(&% xhf/sf] ;/sf/L C0fkqsf] vl/bdf lk|ldodafkt @!,!)&=&! xhf/ e'StfgL u/]sf] 5 . o;;DjGwdf lnOPsf] gLlt cg';f/ of] aif{ $,#^#=#@xhf/ ckn]vg ul/Psf] 5 .

!(= dfly bkmf % / !@ df pNn]v ul/P cg';f/ ljQLoljj/0fx? ljQLo ljj/0f ;DjlGwt aLdf ;ldtLsf] lgb]{zg@)^% cg';f/ tof/ ul/Psf] 5 . o;/L n]vfgLlt kl/jt{gn]ubf{ sDkgLsf] hLag sf]ifdf ;fl/Psf] artdf ¿= -–!(@(_xhf/n] km/s kg{ uPsf] 5 .

- 63 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

Annexure - 29


Notes to Accounts related to

Financial Statements

1. Contingent Liabilities :

A. There are no unpaid investments.

B. The company has no underwriting commitments.

C. There is no claim beside the insurance policies.

D. There is no guarantee given by the company or onbehalf of the company.

E. There are no other liabilities except repudiateddeath claims of Rs. 71.15 lacs.

2. Basis adopted by Actuary while evaluatingInsurer's liabilities : In the last valuation, they haveadopted the modified Net Premium method ofvaluation.

3. There are no disputes and limitations regardingthe company's property. The company has ownedall the properties and assets that are purchased byThe Company and there are no disputes on that.

4. The company has not made any commitments on itsloans, investments and fixed assets.

5. Amount of Investment related purchase / saleagreements :

i. There are no acquired properties / assetsownership of which has not been obtained by thecompany.

ii. There is no amount due against sales of thecompany's property.

cg';"rL – @(

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=

ljQLo ljj/0f;+u ;DjlGwtn]vf ;DjlGw l6Kk0fLx?

!= ;Defljt bfloTjx? M

c_ r'Qmf jf e'QmfgL x'g af“sL nufgL 5}g .

cf_ sDkgLsf] s'g} k|Tofe"lt k|lta4tf (underwriting

commitments) /x]sf] 5}g .

O_ sDkgLsf] aLdfn]v cGtu{t bfaL afx]s cGo bfjL/x]sf] 5}g .

O{_ sDkgLn] jf sDkgLsf] tk{maf6 s'g} hdfgt (Guarantee)

lbOPsf] 5}g .

p_ ;Defljt bfloTj cGtu{t :jLs[t gePsf] d[To' bfaL¿= &!=!% nfv afx]s cGo bfloTj /x]sf] 5}g .

@= aLdf°Ln] aLdssf] bfloTj d"Nof°g ubf{ cjnDag u/]sf]cfwf/x¿ M ut aLdf°L d"Nof°gdf aLdf°Låf/f df]l8kmfO8g]6 lk|ldod ljlw (Modified Net Premium Method)

ckgfOPsf] 5 .

#= sDkgLsf] ;DklQdf s'g} ls;Ldsf] ljjfb /x]sf] 5}g .sDkgLn] xfn;Dd vl/b u/]sf] ;Dk"0f{ ;DklQ sDkgLsf]gfddf gfd;f/L u/fO;s]sf] / To;df s'g} ljjfb /x]sf] 5}g .

$= shf{, nufgL tyf l:y/ ;DklQsf] nflu sDkgLn] xfn;Dds'g} ls;Ldsf] k|lta4tf AoQm u/]sf] 5}g .

%= nufgL;+u ;DalGwt b]xfosf v/Lb laqmL ;Demf}tfx¿sf]d"No M

c_ v/Lb ul/Psf] ;DklQsf] :jfldTj k|fKt gePsf] s'g};DklQ g/x]sf] .

cf_ laqmL ul/Psf] ;DklQsf] e'QmfgL k|fKt gePsf] s'g}/sd af“ls gePsf] .

- 64 -

^= o; jif{ e/L ul/Psf] nufgL tyf laqmL÷lkmtf{ lnPsf] nufgLsf];DjGwdf ;+:yf, ldlt, kl/df0f / /sd ;d]t v'n]sf] ljj/0f M

s= nufgL M

qm=;+= ;+:yfsf] gfd /sd

! g]kfn P;=lj=cfO=a}+s ln= @^),))),)))=))@ Pg=Pd=lj= a}s ln= @),))),)))=))# glan a}+s ln= %),))),)))=))$ a}+s ckm sf7df8f}+ ln= (&,%)),)))=))% nIdL a}+s ln= &),))),)))=))^ l;4fy{ a}+s ln= !#),))),)))=))& a}+s ckm Plzof g]kfn ln= !),))),)))=))* 8]enkd]G6 qm]l86 a}+s ln= !%,))),)))=))( k|fOd sdl;{on a}+s ln= @%,))),)))=))!) l;4fy{ kmfOgfG; ln= #),))),)))=))! ! dxfnIdL kmfOgfG; ln= $,))),)))=))!@ PrlaPn C0fkq !),))),)))=))!# s]laPn C0fkq !(,!&),)))=))!$ cfO{=Pn=Pkm=;L ln= @&,%)),)))=))!% o'lgog kmOgfG; ln= #!,%)),)))=))!^ ;flgdf ljsf; a}+s ln= $%,))),)))=))!& lj/+uh kmfOgfG; ln= #),))),)))=))!* g]kfn ;/sf/ C0fkq @(!,(&%,)))=))! ( klAns sDkgLsf] ;fwf/0f z]o/

s'df/L a}}+s ln= sf] !%#! lsQf ;fwf/0f z]o/ !,)$&,**%=))l;4fy{ a}+s ln=sf] *#@ lsQf ;fwf/0f z]o/ *#,@))=));flgdf ljsf; a}+s ln= sf] **@ lsQf ;fwf/0f z]o/ **,@))=))g]kfn P;=lj=cfO= a}+s ln= sf] ^() lsQf ;fwf/0f z]o/ !,%((,%%^=))a}+s ckm sf7df8f}+ ln= sf] %)) lsQf ;fwf/0f z]o/ !,)@),)))=))PgcfOlaPn sf] !)%$ lsQf ;fwf/0f z]o/ !,#)$,^*)=))Pe/]i6 a}+s ln= sf] !&$) lsQf ;fwf/0f z]o/ $,(%^,*(#=))P]e/]i6 a}+s ln=sf] (&% lsQf c3|flwsf/ z]o/ ((&,&&)=))a'6jn kfj/ sDkgL ln= sf] ^)) lsQf ;fwf/0f z]o/ (*$,)))=))g];gn xfO8«f] kfj/ s+= ln= sf] @))) lsQf ;fwf/0f z]o/ (#^,)))=))lxdfno a}+s ln= sf] !&)$ lsQf ;fwf/0f z]o/ #,%&$,^))=))n'lDagL a}+s ln= sf] !))) lsQf ;fwf/0f z]o/ $%^,)))=))dfR5fk'R5|«] a}+s ln= sf] !)## lsQf ;fwf/0f z]o/ !,)##,*%(=))PgPdla a}+s ln= ^))) lsQf ;fwf/0f z]o/ #,^)),)))=))8]enkd]G6 qm]l86 a}+s ln= sf] !@!* lsQf ;fwf/0f z]o/ &$&,!^)=)):6f088{ rf68{ a}+s g]kfn ln= sf] ^@#) lsQf ;fwf/0f z]o/ #&,)!*,(^)=))lsi6 dr]{G6 a}+ls· P08 kmfOgfG; ln= sf] @))) lsQf;fwf/0f z]o/ (!(,%))=))o'lglne/ g]kfn ln= sf] !) lsQf ;fwf/0f z]o/ #(,^))=))g]kfn OG8;l6«on sdl;{on a}+s ln= sf] %$( lsQf;fwf/0f z]o/ &@@,)#(=))P; 8]enkd]G6 a}+s ln= sf] ^^^ lsQf ;fwf/0f z]o/ %!*,$%^=))gljn a}s ln= sf] @))) lsQf ;+:yfks z]o/ &,*)),)))=))

hDdf nufgL !,@#,^),(#,#%*=))

6. Detail of investments made in this year is as follows.

A. Investments :

S.No. Name of Institution Amount

1. Nepal SBI Bank Ltd. 26,00,00,000.002. NMB Bank Ltd. 2,00,00,000.003. Nabil Bank Ltd. 5,00,00,000.004. Bank of Kathmandu Ltd. 9,75,00,000.005. Laxmi Bank Ltd. 7,00,00,000.006. Siddhartha Bank Ltd. 13,00,00,000.007. Bank of Asia Nepal Ltd. 1,00,00,000.008. Development Credit Bank Ltd. 1,50,00,000.009. Prime Commercial Bank Ltd. 2,50,00,000.0010. Siddhartha Finance Ltd. 3,00,00,000.0011. Mahalaxmi Finance Ltd. 40,00,000.0012. HBL Debenture 1,00,00,000.0013. KBL Debenture 1,91,70,000.0014. ILFC 2,75,00,000.0015. Union Finance Ltd. 3,15,00,000.0016. Sanima Bikash Bank Ltd. 4,50,00,000.0017. Birgunj Finance Ltd. 3,00,00,000.0018. Nepal Government Bonds 29,19,75,000.0019. Ordinary Shares of Public Limited Co.

Kumari Bank Ltd. 1531 Unit 10,47,885.00Siddhartha Bank Ltd. 832 Unit 83,200.00Sanima Bikash Bank Ltd. 882 Unit 88,200.00Nepal SBI Bank Ltd. 690 Unit 15,99,556.00Bank of Kathmandu Ltd. 500 Unit 10,20,000.00NIBL 1054 Unit 13,04,680.00E.B. Ltd. 1740 Unit 49,56,893.00E.B. Ltd. CP 975 Unit 9,97,770.00Butwal Power Co. Ltd. 600 Unit 9,84,000.00National Hydro power Co. 2000 Unit 9,36,000.00Himalayan Bank Ltd. 1704 Unit 35,74,600.00Lumbini Bank Ltd. 1000 Unit 4,56,000.00MPBL 1033 Unit 10,33,859.00DCBL 1218 Unit 7,47,160.00NMB Bank Ltd. 6000 Unit 36,00,000.00SCBNL 6230 Unit 3,70,18,960.00Kist Merchant Banking &Finance Ltd. 2000 Unit 9,19,500.00Unilever Nepal Ltd. 10 Unit 39,600.00NIC Bank Ltd. 549 Unit 7,22,039.00ACE Dev. Bank Ltd. 666 Unit 5,18,456.00NABIL Bank Ltd. Promoter Share 2000 Unit 78,00,000.00

TOTAL INVESTMENT 1,23,60,93,358.00

- 65 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

v= o; cf=a= df e'QmfgL cjlw ;lsPsf tyf laqmL ePsfnufgLsf] ljj/0f M

qm=;+= ;+:yfsf] gfd /sd

! g]kfn P;=lj=cfO= a}+s ln= @@),))),)))=))

@ Pg=Pd=lj= a}s ln= @),))),)))=))

# a}+s ckm sf7df8f}+ ln= ^),))),)))=))

$ nIdL a}+s ln= !%*,))),)))=))

% l;4fy{ a}+s ln= %),))),)))=))

^ 8]enkd]G6 qm]l86 a}+s ln= !),))),)))=))

& dxfnIdL kmfOgfG; ln= $,))),)))=))

* s'df/L a}}+s ln= !#,%)),)))=))

( dfR5fk'R5]« a}+s ln= (@,%)),)))=))

!) cfO{=Pn=Pkm=;L= ln= @&,%)),)))=))

!! o'lgog kmOgfG; ln= #!,%)),)))=))

!@ ;flgdf ljsf; a}+s ln= @%,))),)))=))

!# uf]vf{ ljsf; a}+s ln= @),))),)))=))

!$ g]kfn ;/sf/ C0fkq #!,#((,%)*=@!

hDdf kl/kSj /sd &^,##,((,%)*=@!

&= ;DalGwt a}s÷ljlQo ;+:yfaf6 w]/} h;f] ljj/0f (statement)

k|fKt e};s]sf] / ;f] cg';f/ a}+s vftfsf] lx;fa ;DjlGwReconciliation ljj/0f tof/ kfl/;s]sf] 5 .

*= aLds÷k'gaL{ds;+u lng' lbg' af“sL lx;fa ;DjGwdf ;DjlGwtaLds÷k'gaL{dssf] ;dy{g ;lxtsf] Reconciliation

ljj/0f tof/ kfl/;s]sf] 5 .

(= aLdf lgodfjnL tyf aLdf ;ldltaf6 tf]lsP adf]lhdsf]lgb]{zg cg';f/ sDkgLn] nufgL u/]]sf] 5 .

!)= sDkgLsf] ;+rfns jf ;+rfns;+u ;DjlGwt JolQm jf;+:yf;+u sDkgLn] s'g} sf/f]af/ u/]sf] 5}g .

!!= ;/sf/L C0fkqsf] ;'/If0fdf g]kfn P;=la=cfO= a}+saf6sDkgLn] cf]e/8«fkm\6 C0f ;'ljwf lnPsf] 5 / of] jif{;Dk"0f{ C0f /sd r'Stf ul/;s]sf] 5 .

B. Details of matured and sold Investments duringthis fiscal year :

S.No. Name of Institution Amount

1. Nepal SBI Bank Ltd. 22,00,00,000.00

2. NMB Bank Ltd. 2,00,00,000.00

3. Bank of Kathmandu Ltd. 6,00,00,000.00

5. Laxmi Bank Ltd. 15,80,00,000.00

6. Siddhartha Bank Ltd. 5,00,00,000.00

7. Development Credit Bank Ltd. 1,00,00,000.00

8. Mahalaxmi Finance Ltd. 40,00,000.00

9. Kumari Bank Ltd. 1,35,00,000.00

10. M. P. Bank Ltd. 9,25,00,000.00

11. ILFC 2,75,00,000.00

12. Union Finance Ltd. 3,15,00,000.00

13. Sanima Bikash Bank Ltd. 2,50,00,000.00

14. Gurkha Dev. Bank Ltd. 2,00,00,000.00

18. Nepal Government Bonds 3,13,99,508.21

TOTAL MATURED 76,33,99,508.21

7. The company has prepared the bank reconciliationstatements and has received most of its bank accountsstatements.

8. Description of transactions of re-insurance is approvedby re - insurer company along with reconciliation.

9. The company has made investments according tothe relevant insurance rules and criteria prescribed byInsurance Board.

10. The company has not made any transaction andinvestments with Directors of the company or otherperson and organization associated to Directors.

11. The company has taken overdraft loan from Nepal SBIBank Ltd. against the security of its Government Bondswhich was repaid during the fiscal year.

12. The company has not obtained tax paid certificate andhas not received any claim regarding fine or interest

- 66 -

!@= sDkgLn] s/ r'Qmf k|df0fkq xfn;Dd k|fKt u/]sf] 5}g;fy]} cl3Nnf] cf=j= x?sf] s/, hl/jfgf jf Aofh afkts'g} bfjL k|fKt u/]sf] 5}g . o; cf=j= df To; jfkt s'g}/sd e'QmfgL ePsf] 5}g .

!#= of] aif{ sDkgLn] s'g} aLdfz'Ns lkmtf{ u/sf] 5}g .

!$= sDkgLn] aLldtnfO{ cf=a= @)^!÷)^@ ;Ddsf] af]g;sf]b/ 3f]if0ff u/]sf] 5 / xfn;Dd cGtl/d af]g;sf] ?kdfnfu" u/LPsf] ljj/0f lgDg cg';f/ /x]sf] 5 M

;fjlws aLdf

jif{ cjlw %—!% !^—@) @!—@% @^ jf ;f] eGbf al9

af]g; b/ $#=)) $&=)) %#=)) ^%=))

wglkmtf{ aLdf

aif{ cjlw !% @) @%

af]g; b/ #(=)) $#=)) $*=))

!%= aLdfz'Ns l9nf e'QmfgLdf lanDa Aofh b/ tyf aLdfn]vsf]lwtf]df k|bfg ul/g] shf{ tyf clestf{ / sd{rf/LnfO{k|bfg ul/Psf] shf{df sDkgLn] b]xfo adf]lhd Aofh b/lgwf{/0f ul/Psf] 5 .

l9nf] aLdfz'Ns e'QmfgLdf lanDj z'Nssf] Aofhb/ *%

aLdfn]vsf] lwtf]df lbOg] shf{sf] Aofhb/ (%

clestf{ shf{sf] Aofhb/ (%

sd{rf/L shf{sf] Aofhb/ &%

!^= ckn]vg x'g af“sL vr{sf] ljj/0f M ;/sf/L C0fkqsf]vl/bdf e'QmfgL ul/Psf] lk|ldod /sdnfO{ ;f] C0fkqsf]e'Qmfg cjlw leq ckn]vg ul/g] gLlt /x]sf] 5 . of] aif{sDkgLn] c+lst d"No @(!,(&% xhf/sf] ;/sf/L C0fkqsf]vl/bdf lk|ldod afkt @!,!)&=&! xhf/ e'QmfgL u/]sf]5 . o; ;DjGwdf lnOPsf] gLlt cg';f/ of] aif{ $,#^#=#@xhf/ ckn]vg ul/Psf] 5 . of] /sdnfO{ cg';"rL @ dfnufgLdf gf]S;fg lzif{s cGtu{t b]vfOPsf] 5 .

due of previous year's income tax and that is not paidin this fiscal year.

13. The company has not refunded any premium in thisyear.

14. The company has declared Vested Bonus upto 2061/062 which is applicable in interim bonus till date asfollows :

ENDOWNMENT POLICIES :

TERM YEAR 5-15 16-20 21-25 26 and above

BONUS RATE 43.00 47.00 53.00 65.00

MONEY BACK POLICIES :

TERM YEAR 15 20 25

BONUS RATE 39.00 43.00 48.00

Bonus rate are applicable for per thousand.

15. The company has determined the interest rate on latepremium payment, interest on loans against insurancepolicies, interest on agent's and employee's loans asfollows :

Interest Rate on late payment of Premium 8% p.a.

Interest Rate on loans against Policies 9% p.a.

Interest Rate on Agent's loans 9% p.a.

Interest Rate on Employees loans 7% p.a.

16. Details of expenses remaining to be amortized :Premium paid on acquisition of government securities(Investment) is amortized over the maturity period ofinvestment. During the year, the company haspurchased NRB Bonds by paying premium ofRs. 21,107.71 thousand against the face value ofRs. 291,975 thousand. As per the policy taken, total4,363.32 thousand has been amortized this year. Thismount has been shown in annexure 2 as loss onpurchase of Investment.

- 67 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

17. There is no paid in advance, call in arrears among totalpaid up capital and the company has no confiscatedshares that are not re-issued.

18. There is no amortization amount in leasehold propertyup to last year and this year.

19. There are no off balance sheet transactions in thisfiscal year.

20. Income and expenditure booked this year dos notcontain any income and expenditure related toprevious years except for the provision of loss oninvestment written back.

21. a) Last year's provision of loss on investmentRs. 2298582.00 shown in Revenue Account butthis year it has been reversed and shown inannexure 2 in the head of profit of purchase ofInvestment.

b) Previous years figures have been regrouped andrearranged, wherever necessary for comparisonpurposes only.

!&= r'Qmf k"“hL dWo] clu|d e'QmfgL k|fKt (Paid in advance),

e'QmfgL k|fKt x'g af“sL (Call in arrears) / hkmt ul/Psft/ k'gM lgisfzg gul/Psf z]o/ /x]sf] 5}g .

!*= of] jif{;Dd lnh xf]N8 ;DklQdf vr{ (Amortization)

cGtu{t s'g} /sdsf] Aoj:yf ul/Psf] 5}g .

!(= o; jif{ sDkgLsf] jf;nft aflx/sf] s'g} sf/f]af/ /x]sf]5}g .

@)= nufgLdf gf]S;fgsf] Aoa:yf afx]s of] jif{sf] cfDbfgL tyfvr{sf] lx;fadf cl3Nnf aif{x?;+u ;DjlGwt s'g} klgcfDbfgL tyf vr{sf] /sd ;dfj]z 5}g .

@!= s_ ut aif{sf] nufgLdf gf]S;fgL JoJf:yf cGtu{tsf]/sd ?= @@,(*,%*@=)) cfo Aoo lx;fj cGtu{tb]vfOPsf]df of] jif{ ;f] /sdnfO{ cg';"rL @ df nufgLvl/bdf gfkmf lzif{s cGtu{t b]vfOPsf] 5 .

v_ cl3Nnf] jif{sf] c+sx? cfjZostf cg';f/ k'gjuL{s/0ftyf k'g;d'lxs/0f ul/Psf] 5 .

- 68 -

cg';"rL–#)k|d'v ;"rsf°x?

! g]6 jy{@ z]o/ ;+Vof# k|lt z]o/ lstfjL d"No$ v"b gfkmf% k|lt z]o/ cfo (EEPS)^ k|lt z]o/ nfef+z (DPS)& k|lt z]o/ ahf/ d"No (MPPS)* d"No cfDbfgL cg'kft (PE Ratio)( k|yd aif{sf] aLdfz'Ns!) s'n aLdfz'Ns!! v"b aLdfz'Ns÷s'n aLdfz'Ns!@ v"b gfkmf÷s'n aLdfz'Ns!# s'n aLdfz'Ns÷s'n ;DklQ!$ nufgL / shf{af6 cfo÷s'n nufgL / shf{!% s'n nufgL / shf{÷hLjg aLdfsf]if!^ k'gaL{df sldzg cfo÷s'n k'gaL{dfz'Ns!& Joj:yfkg vr{÷s'n aLdfz'Ns!* aLdf clestf{ ;DalGw vr{÷s'n aLdfz'Ns!( aLdf clestf{ ;+Vof@) sd{rf/L ;+Vof@! sfof{nosf] ;+Vof@@ sd{rf/L vr{÷Joj:yfkg vr{@# sd{rf/L vr{÷sd{rf/L ;+Vof@$ e'QmfgL x'g af“sL bfjL /sd÷e'QmfgL ePsf] bfjL /sd@% s'n sfod /x]sf] aLdfn]vsf] ;+Vof@^ o; jif{ gjLs/0f ePsf] aLdfn]vsf] ;+Vof÷ut jif{ sfod /x]sf] aLdfn]vsf] ;+Vof@& bfjL k/]sf] aLdfn]vsf] ;+Vof÷s'n sfod /x]sf] aLdfn]vsf] ;+Vof@* ;f]Ne]G;L dflh{g@( 3f]lift af]g; b/#) cGtl/d af]g; b/

qm=;+= ljj/0f ;"rsf°@)^$÷)^%

cf=a=

?=;+Vof?=?=?=?=?=

cg'kft?=?=

k|ltztk|ltztk|ltztk|ltztk|ltztk|ltztk|ltztk|ltzt;+Vof;+Vof;+Vofk|ltzt ?=

k|ltzt;+Vofdfk|ltztk|ltztk|ltzt

?= k|ltxhf/?= k|ltxhf/

@)^,$&!,@*$=%&@,%)),)))=))

*@=%(%,)(!,*(*=)*

@=)$!%=))

!,)!@=))$(^=*&

!*,(^&,&%$=))()),^*@,&))=))

((=*$)=%&#!=&)%=&*

!)&=@%–sss%=(*!@=@(

!#,&%^=))^*=))!@=))@&=#*

@!^,&*%=$!!$=(!

!#&,#$&=))^&=&^)=)(–sss–sss#(–^%




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf




EPS n] jf:tjLs d'gfkmf b]vfO/x]sf] 5}g lsgls sDkgLsf] aLdf°L d'Nof°g cf=a= @)^@÷)^# kZrftsf] af“sL /x]sf] 5, aLdf P]g cg';f/ k|To]s tLg aif{dfdfq aLdf°g ug'{kg]{ x'G5 .

- 69 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report












Annexure - 30

Main Indicator

1 Net worth Rs. 206,471,284.572 No. of Shares Number 2,500,0003 Book value per share Rs 82.594 Net profit Rs 5,091,898.085 Earning per share(EPS) Rs 2.046 Dividend per share (DPS) Rs 15.007 Market price per share (MPPS) Rs 1,012.008 Price Earning Ratio (PE Ratio) Ratio 496.879 First Year Premium Rs 18,967,754.0010 Total Premium Rs 900,682,700.0011 Net Premium / Total Premium % 99.8412 Net Profit / Total Premium % 0.5713 Total Premium / Total Assets % 31.7014 Income from loan, investment/Total Loan, investment % 5.7815 Total Investment, loan / Life fund % 107.2516 Re-insurance Commission income / Total re-insurance premium % -aaa17 Management expenses / Total premium % 5.9818 Agents Expenses / Total premium % 12.2919 No. of Agents Number 13,75620 No. of Staffs Number 6821 No. of Branches Number 1222 Employee expenses / Management Expenses % 27.3823 Employee expenses / No. of staff Rs 216,785.4124 O/s claim amount / Paid claim % 14.9125 No. of total policies Number 137,34726 Current year's renewed policies \ last year's total policies % -aaa27 No. of policies of claims / Total policies % 0.0928 Solvency Margin % N.A.29 Vested Bonus Rate Rs. per thousand -aaa30 Interim Bonus Rate Rs. per thousand 39-65

Note: EPS does not reflect true profitability of the company since the acturial valuation has not been done after F.Y. 2062/063 as perInsurance Act.

S.N. Particulars Indicator2064-65

Fiscal Year

- 70 -

- 71 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

gf]6 Note

- 72 -

gf]6 Note

- 73 -

jflif{s k|ltj]bg

cf}+&& 7 th

Annual Report

gf]6 Note

- 74 -

;ftf}+} jflif {s ;fwf/0f ;ef ;djlgw ; rgf - lic nepal/cite> · annual

Documents