Minutes of the 13^th & 14^th Annual General Meeting 

Date:    October 8, 2009

Venue: The Everest Hotel, New Baneshwor, Kathmandu 

13 th & 14 th Annual General Meeting (AGM) of Nepal Britain Chamber of Commerce & Industry (NBCCI) was held on 8 October, 2009 at The Everest Hotel, New Baneshwor, Kathmandu . Representatives of 52 member organizations were present at the time of AGM.

AGM Proceedings:

The session was commenced at 3.00pm . On behalf of Vice president (Secretariat) of NBCCI, Mr. Ashish K Sengupta, CEO Mr. P G Karmacharya has confirmed that the necessary quorum has been fulfilled and hence President Mr. Mahendra K. Shrestha commenced the meeting ahead under his chairmanship.

•  Mr. Shrestha, made a opening remarks and welcome address in which he welcomed His Excellency Dr. Andrew R Hall, the British Ambassador and all the EC committee members and the general members of NBCCI.

In his speech, he summarized them about t he reduced activities of the chamber in the past two fiscal years that were primarily due to severe political instability which had beholden the nation. He analyzed that was further compounded by the Global Economic melt-down by the beginning of the immediate past fiscal year and was needless to mention, such times compelled all of us at home and abroad to try our best and keep our respective businesses afloat.

•  He said that the chamber is primarily working for increasing trade, commerce, investment and serving thereby towards the socio-economic development of Nepal and bi-lateral relationship between Nepal and the UK . He insisted that peace and competitiveness are essential for facing global challenges.

•  Mr. Ashish K. Sengupta, Sr. Vice President presented the Annual Report for the year 2064-65 & 2065-66 on behalf of Executive Committee Members. After discussions, Mr. Dhurba Narayan Shrestha of Lalima Travels P. Ltd. proposed to pass the Annual Report. Mr. Rohini Thapaliya of Padma Shree P. Ltd. seconded and the Annual Report was endorsed unanimously.

•  Mr. Ashish K. Sengupta, Sr. Vice President again presented the Annual Accounts of the Chamber for the year 2064-65 & 2065-66. He requested members for their suggestions for utilization of the accumulated surplus in a more revenue generating way. It is highlighted that the surplus is earning interest out of which expenses of the chamber are being met and any major spending will reduce the earnings and cash flow in that proportion and hence any proposal should be evaluated in that reference.

After discussions, Mr. Sanjiv Khesava of Surya Nepal Pvt. Ltd. proposed and Mr. Ganga Ram Shrestha of Fur and Crafts Nepal seconded for passing of accounts and the Annual Accounts were endorsed.

•  Mr. M K Shrestha proposed for the appointment of auditors and their remuneration for the year 2066-67 and informed that M/s Deoki Bijay & company, existing auditors are eligible for re-appointment. Mr. Shyam Kumar Lohia of Aarti Soap & Chemical Ind. Pvt Ltd proposed and Mr. Shyam Sundar K C of Abhijit Carpets Ind. Pvt. Ltd. seconded to reappoint M/s Deoki Bijay & Company, Chartered Accountants as the auditors of the chamber for the year 2064-65 & 2065-66 which was passed by the members unanimously.

•  Mr. Shrestha informed that since only required number of nominations for the post of the President and Executive Committee members have been received, there is no need for voting. He also informed that as per agenda, the Chief Election officer would make declaration of the election results in the Ceremonial Session of the AGM.

•  On the open floor interaction, Mr. Ganga Ram Shrestha of Fur and Crafts Nepal stressed on the business trade between Nepal and the Britain . He also concerned for increase in the membership of the chamber. Mr. Shyam Kumar Lohia of Aarti Soap & Chemical Ind. Pvt. Ltd. said that the chamber is not that active as it was. He further suggested that the member's achievements should also be published. Mr. Dhurba Narayan Manandhar of Lalima Travels Pvt. Ltd. stressed for the need of holding more talk and training programs for the members.

•  Replying to the issued rose in open interaction, Mr. Shrestha requested all members to submit their suggestions for the training, programs, seminars, meetings and other events to be carried out by the chamber. He also agreed that the circumstances are not favorable for business and there is even risk investing capital.

•  Mr. Shrestha thanked all the office bearers, Executive Committee members and the general members for all their contributions and support during his past year's tenure as the president and he felt that the new Executive Committee under the leadership of Mr. Rajendra K. Kheran will take ahead. Mr. Mr. Rajendra K. Kheran said that the chamber will continue to work for its members interests in future. He requested to the members to be more active.

•  The British Ambassador HE Dr. Andrew R Hall who is also the patron of NBCCI said that to have a sustainable peace economic has to pick up and present investment environment needs to be more conducive. He said that British investment is seeking appropriate investment friendly time to come to Nepal . The ambassador went on to note that widespread corruption raised the cost of doing business in Nepal , and that poor infrastructure was an obstacle to getting business moving.

•  Newly elected President Mr. Rajendra K Khetan of the chamber presented the concluding remarks. He then appealed all the members for the active working and support to further the objectives of the chamber.

•  It was declared conclusion of the AGM and invited all for the hi-tea reception.

he AGM ended with hi-tea for the all members and invitees.