Addresses of CORPORATE OFFICE and BRANCHES Phone ......2019/02/12 · Waling Branch Waling-3,...

Corporate Office:P.O. Box No. 21905Kathmandu Plaza (X Block, 2nd Floor) Kamaladi,Kathmandu, NepalPhone: 01-4168537, 01-4168539Fax: 01-4168538

Branch Offices:

Kathmandu BranchY Block, Kathmandu Plaza, KamaladiKathmandu, NepalPhone: 01-4168541

Biratnagar BranchBhanu Tole, Biratnagar-14, NepalPhone: 021-532772

Pokhara BranchPrithvi Chowk - Nagdunga, NepalPhone: 061-539191

Nepalgunj BranchNepalgunj-1, Banke, NepalPhone: 081-526047

Bhaktapur BranchSuryavinayak, Bhaktapur, NepalPhone: 01-6619502

Butwal BranchButwal-8, Traffic Chowk, NepalPhone: 071-550392

Birgunj BranchMain Road, Adarsha Nagar Chowk-15, NepalPhone: 051-691777

Janakpur BranchStation Road, Janakpur-1, NepalPhone: 041-526384

Dhangadi BranchDhangadi-3, Kailali, NepalPhone: 091-520802A

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HES Mahendranagar Branch

Mahendra Nagar-4, Nepal

Phone: 099-525304

Birtamod Branch

Birtamod-4, Bhadrapur Road, Nepal

Phone: 023-543404

Narayanghant Branch

Narayanghat-3, Chitwan, Nepal

Phone: 056-532501

Lahan Branch

Lahan-8, Siraha, Nepal

Phone: 033-561976

Dang Branch

Sahid Gate, Ghorahi, Dang, Nepal

Phone: 082-563190

Lalitpur Branch

Yapa Bhawan, Lalitpur, Nepal

Phone: 01-5009295

Terhathum Branch

Myaglung-1, Terhathum, Nepal

Phone: 026-460725

Anbukhairani Branch

Anbukhairani-6, Tanhun, Nepal

Phone: 065-540566

Baglung Branch

Mahendra Path, Baglung, Nepal

Phone: 068-522737

Gulmi Branch

Tamghas-1, Gulmi, Nepal

Phone: 079-520748

Dadeldhura Branch

Amargadi NP-5, Tuphandanda,

Dadeldhura, Nepal

Phone: 096-420753

Malangwa BranchMalangwa Ward No. 9, NepalPhone: 046-521663

Dharan BranchChatta Chowk, Dharan-4, NepalPhone: 025-526459

Taulihawa BranchKalika Tole, Taulihawa-3, NepalPhone: 076-560461

Gaur BranchGaur Ward No. 1, NepalPhone: 055-521501

Hetauda BranchKanti Rajpath, Radha Krishna BhawanHetauda, NepalPhone: 057-521055

Nawalparasi BranchRam Gram NP-2, Nawalparasi, NepalPhone: 078-521030

Tikapur Branch1st Floor, Kishan Co-operative Bldg.,Tikapur, NepalPhone: 091-561362

Jaleshwor BranchJaleshwor-5, Mahottari, NepalPhone: 044-521175

Waling BranchWaling-3, Syanja, NepalPhone: 063-440653

Surkhet BranchSurkhet, NepalPhone: 083-532127

Foreign Employement BranchTinkune, Kathmandu, NepalPhone: 01-4475108

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CIL 12th ANNUAL REPORT12th ANNUAL REPORT

2

Registered Office - Kathmandu Metropolitan City

Kathmandu, Nepal

Corporate Office - Block ‘X’ 2nd Floor, PO Box 21905

Kathmandu Plaza

Kamaladi, Kathmandu, Nepal

Principal Activities - Life Insurance business

Chief Executive Officer - Mr. P.R. Mishra

Company Secretary - Mr. Binod Kumar Bhujel

Consultant Actuaries - Mr. M.G. Diwan & Mr. Akshay Pandit

M/S K.A. Pandit and Co.

Consultant Actuaries

IInd Floor, Churchgate House

Veer Nariman Road

Fort, Mumbai

Auditors - External - Mr. S.C. Lal

M/S S.C. Lal & Associates

Chartered Accountants,

Jwagal, Kupondole

Lalitpur

Auditors - Internal - Mr. P.K. Swarnakar

M/S Devali Bijay & Co.

Chartered Accountants,

Thapa Niwas, Sifal

P.O. Box: 25041, Kathmandu

Lawyers - Sr. Adv. Mithlesh Kumar Singh

Singh Law Company

Ram Kunj, Tripureswor

Kathmandu

Bankers - Bank of Kathmandu Ltd., Kathmandu

Nepal SBI Bank Ltd., Kathmandu

Reinsurer - M/S Hanover Re., Malaysia

PAN No. - 500213148

Incorporated in Nepal Under the

Companies Act 2053 with Reg. No. - 765/057-58

Registered with Beema Samiti on - 2058/04/23

Note: F.Y. 2069/070

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Ashok AgrawalDirector

Managing Director, Vishal Group Ltd.

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V.K. KukrejaIndependent Director

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Rajendra P. AryalDirector

Nominees of Shareholders

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P. R. MishraCEO & Director

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S.K. RoyChairman

Chairman, LIC of India

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S.B. MainakDirector

Managing Director, LIC of India

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P.R. MishraCEO & Director

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Shreekhanda ShresthaAsst. Manager

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Sudhir SagarManager

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Bipin Kumar LalSr. Officer

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Rajesh K. ChoudharyAsst. General Manager

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Mrs. Sirjana NepalAsst. Manager

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Senior Management Team

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Chairman's

5

Dear Shareholders, Ladies and Gentlemen,

On behalf of entire LIC family, I am delighted to extend my

greetings and welcome you all to this 12th Annual General

Meeting of Life Insurance Corporation (Nepal) Ltd at

Kathmandu. I feel much privileged & honored to be in Nepal as

the Chairman of this Company and to be associated with the

economic growth and social development of this beautiful

Country through the Company.

Looking back at the last twelve months, it is my pleasure to

report to you that we could deliver as per our commitments,

despite a background of continuing market volatility. Over the

last 12 years, your Board has focused its efforts on fulfilling the

trust reposed by the shareholders, customers, stakeholders etc.

in this Company. The year 2069/70 witnessed the Company

showing all round growth in various financial parameters. The

Compounded Annual Growth Rate (CAGR) of New Business over

the last 12 years stands at 23.62% and it’s the testimony to the

sustained and synchronized efforts of all concerned in steady

progress of the Company.

I am pleased to note that the Business, Investments, Income

and Profits of the Company have shown sizeable growth in the

year 2069/70. I wish to share with you that LIC Nepal has been

able to collect Rs.918.94 million as First Premium Income by

selling 65022 Policies in the financial year 2069/70. In terms of

first premium collected and policies sold, the Company showed

a growth of 8.84% and 10.02% respectively. Likewise, the

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Chairman's MessagecWoIfåf/f k|:t't k|ltj]bg

company achieved 91.89% and 90.30% in First Premiums and

Policies target for the year. In the market share in Nepal, we

have achieved 28.15% in Nop & 28.36% in FPI in Regular new

business. As at the end of Ashaad 2070, we are servicing

3,21,683 policies. I sincerely hope to have better growth in

New Business performance of the Company during the current

year. Accordingly, we have taken an ambitious budget to

procure 85000 new policies and to collect Rs.1.4 billion as first

premium income by the end of the current fiscal year.

Similarly in the year 2069/70, Life Fund of the Company grew to

a new height of Rs 11.78 billion as at the end of the fiscal. There

has been a growth of 32.21% in life fund while the total

investments grew by 34.34% in the year. The income from

investments has risen at 35.07% in the fiscal. All the funds have

been invested in Nepal as per the guidelines set by Insurance

Board (Beema Samiti) of Nepal and efforts are being made to

get the maximum advantages of the highest returns on

investments prevailing in the market in order to maximize the

benefits to our esteemed customers.

The Company’s Actuarial Valuations for 2068-69 (from Shrawan

1, 2068 to Ashaad end, 2069) & for 2069-70 (from Shrawan 1,

2069 to Ashaad end, 2070) have been approved. At the end of

2069-70, the Company has shown a net profit of Rs. 277.35

million under Shareholders Account. The Board of Directors in

its 64th meeting on 17.09.2013 and subsequently in its 66th

meeting on 06.01.2014, has proposed 31.57% of our paid up

capital as dividends out of this profit and the same will be

apportioned in 30 % as bonus shares, 1.57 % as cash dividends

for adjustment against tax liabilities on dividends so declared

to our valued shareholders. The Board has also proposed to

increase the Authorised Capital & Paid-up Capital of the

Company to Rs 658.125 million.

Again, the Company has set benchmarks for best servicing

standards in the industry when it achieved zero outstanding in

maturity, survival benefit and death claims. The fact that 99%

of these claims have been settled before the due date adds

more shine to this achievement. Altogether the Company paid

over Rs 327.86 million as claim payments in the fiscal.

As on the date, the Company delivers its products and services

through 31 outlets manned by 120 full-time employees across

the entire nation. This year too, we hope to increase our

presence even in farther areas of the country keeping financial

viability in mind. The Company has a total of 26441 Agents

across the nation for procuring New Business and extending

after sales service. The crowning glory of all has been the ISO

9001:2008 certification received by the Company making it the

first and only Life Insurance Company in Nepal since 2068 and

6

xfl;n ug{ ;kmn ePsf] 5 . pQm jif{ sDkgLn] cfk"mn] /fv]sf] Jofkf/nIosf] k|yd aLdfz"Ns cfh{gdf (!=*(% / gof“ aLdfn]v laqmLdf()=#)% sf] ;kmntf k|fKt ug{ ;s]sf] 5 . k/Dk/fut nfdf]cjwLsf] dfq hLjg aLdf u/fPsf] o; sDkgLn] g]kfnsf] s"n hLjgaLdf Jofkf/sf] ;Gbe{df eGg' kbf{ aLdfn]v ;+Vofdf @*=!%% /k|yd aLdfz"Ns cfh{gdf @*=#^% sf] ahf/ lx:;f lng ;kmn ePsf]5 . sDkgLn] @)&) cfiff9 d;fGt;Dddf s"n #,@!,^*#aLdfn]vx?nfO{ ;]jf k|bfg u¥of] / rfn' cf=j= @)&)÷&! dfsDkgLn] gof“ Jofkf/df pNn]Vo ?kn] a[l4 ub}{ hfg] k"0f{ ck]IfflnPsf] 5' . To;}u/L, xfdLn] rfn' cf=j= @)&)÷&! sf] cGTo;Dddf*%,))) gof“ aLdfn]vx? laqmL u/L k|yd aLdfz"Ns jfkt ¿= ! ca{$) s/f]8 cfh{g ug]{ dxTjsf+IfL nIo lnPsf 5f}+ .

@)&) cfiff9 d;fGt;Dddf sDkgLsf] hLjg aLdf sf]ifdf¿= !,!&* s/f]8 /sd hDdf e};s]sf] ;xif{ hfgsf/L u/fpgrfxG5' . ut jif{sf] t'ngfdf of] jif{ hLjg aLdf sf]ifdf #@=@!% /s"n nufgLtkm{ #$=#$% sf] a[l4b/ /x]sf] 5 . nufgLaf6 k|fKt x'g]cfDbfgLdf sDkgLn] o; jif{ #%=)&% sf] a[l4b/ xfl;n u/]sf] 5 .sf]ifsf] ;Dk"0f{ /sdx? aLdf ;ldltn] hf/L u/]sf] nufgL ;DjGwLlgb]{lzsfsf] clwgdf /xL g]kfnleq} ;'/lIft / pRr k|ltkmn k|fKtx'g] If]qx?df nufgL ul/Psf] / o;af6 u|fxsx?nfO{ eljiodf cema9L nfe ldNg]5 eGg] s'/fsf] ;xif{ hfgsf/L u/fpg rfxG5' .

sDkgLsf] cf=j= @)^*÷^( / cf=j= @)^(÷&) sf] aLdf°Lo d"Nof+sg-@)^* >fj0f ! b]lv @)&) cfiff9 d;fGt;Ddsf]_ >L aLdf ;ldltaf6:jLs[t eO{ k|fKt ePsf] 5 . @)&) cfiff9 d;fGt;Ddsf] aLdf°Lod"Nof+sgn] s"n gfkmf ¿= @&=&# s/f]8 a/fa/sf] /sd xfd|fz]o/wgLx?sf] vftfdf b]vfpg ;kmn ePsf] 5 . ldlt @)&)÷)^÷)!df a;]sf] ;+rfns ;ldltsf] ̂ $cf}+ a}7s / ;f]xL k|:tfjsf ;DjGwdfldlt @)&)÷)(÷@@ ut] a;]sf] ^^cf}+ a}7ssf] lg0f{on] sDkgLsf]d'gfkmfaf6 z]o/wgLx?nfO{ sDkgLsf] jt{dfg r'Qmf k"“hLsf] #!=%&%

nfef+z lbg] k|:tfj u/]sf] 5 h; cGtu{t #)% af]g; z]o/ / ;f]af]g; z]o/ lnP afkt g]kfn ;/sf/nfO{ a'emfpg' kg]{ s/ jfktsf]/sd k|of]hgfy{ !=%&% gub nfef+z k|:tfljt 5g\ . o; ul/dfdo;efdf o; sDkgLsf] xfnsf] clws[t k"“hL / r'Qmf k"“hLnfO{ a[l4 u/L¿= ^%,*!,@%,))) k'¥ofpg ;d]t k|:tfj k]z u/]sf 5f}+ .

cf=j= @)^(÷&) df o; sDkgLn] kl/kSjtf nfe e'QmfgL, lhljtnfe e'QmfgL / d[To' bfaL k"0f{ ?kn] ;Dkfbg÷km5\of]{6 ug{ ;kmn x“'b}k"gM bfaL e'QmfgL ;Dkfbgdf g]kfnsf] hLjg aLdf pBf]u d} pRrtddfkb08 sfod ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpg rfxG5' .((% tL bfaLx? aLdf lgodfjnLsf] Dofbleq} ;Dkfbg ul/Psf]tYon] ;f] pknlJwdf cem ;'uGw ylkPsf] 5 . cf=j= @)^(÷&) dfsDkgLn] s"n bfaL e'QmfgL afkt ¿= #@=&* s/f]8 k|bfg u/]sf] ;xif{hfgsf/L u/fpg rfxG5' .

cfhsf] ldlt;Dddf o; sDkgLn] #! cf]6f zfvf sfof{nox? / !@)hgf k"0f{sflng sd{rf/Lx? dfkm{t\ d'n'se/ cfkmgf] ;]jf k|bfg ub}{cfO/x]sf] 5 . of] jif{ klg sDkgLsf]] pkl:yltnfO{ b]zsf] cGoefux?df k'¥ofpg] nIo lnOPsf] 5 t/ lj:tf/ ubf{ a}1flgs / sdvlr{nf] t/LsfnfO{ cjnDag ul/g] 5 .

the same is renewed this year too, vindicating the mark of the

international standards being maintained and the continuation

of professionalism in our sales as well as service operations. I

am further happy to inform you that by leveraging information

technology, LIC Nepal is providing “anywhere premium payment

system” and “SMS information system” for our valued

customers, which indicates the excellent service commitment

of the Company to its policyholders. Detailed review of the

Company’s performances is placed separately in the report of

the Board of Directors.

Before concluding, I would like to place on record my profound

gratitude to the shareholders present here and otherwise, for

continuing to have faith in us and for supporting us. Similarly, I

would like to thank and express our sincere appreciation to the

honorable Government of Nepal, Ministry of Finance, Nepal

Rastra Bank, Beema Samiti, Company Registrar’s Office,

Security Board of Nepal, Nepal Stock Exchange Limited and all

the other departments of the government for the help,

guidance and encouragement given to the Company. Our

Actuary, Auditors both external and internal and other business

associates also deserve our appreciation for supporting and

guiding the Company. I express my deep gratitude to the

esteemed policyholders without whose support and good wishes

it would not have been possible to achieve progress.

The Board of Directors has seen some changes after 11th Annual

General Meeting. Three directors namely Sri D.K. Mehrotra

(Ex-Chairman), Sri Thomas Mathew T. and Sri S.K.Mukherjee

have laid down their offices by virtue of retirement from service

or end of tenure, and I am thankful to them for their

contributions. Members of the Board have been a source of

strength through their continuous monitoring and guidance to

the Company and I would like to thank them as well.

The management committee, the members of staff and entire

field force of the Company have shown their exemplary

commitment, enthusiasm, dedication and have worked hard in

maintaining high standards for the company in the insurance

industry of Nepal. I would also like to thank them for their

dedicated service, contribution and loyalty.

Ladies and Gentlemen, once again a warm welcome to all of

you to this august gathering and I solicit your continued

patronage.

Thank you once again,

S.K. RoyChairman

7

Chairman's MessagecWoIfåf/f k|:t't k|ltj]bg

gof“ hLjg aLdf u/fpg / laqmo ;]jf k|bfg ug{ o; sDkgLdfb]ze/ hDdf @^,$$! clestf{x? sfo{/t /x]sf 5g\ . g]kfnsf]hLjg aLdf pBf]udf PncfO{;L -g]kfn_ ln= cfO{=P;=cf]= k|df0fLs/0f())!M@))* k|fKt ug]{ klxnf] / Ps dfq hLjg aLdf sDkgLsf]tfh cem} ;'/lIft /fVg ;kmn ePsf] 5 . la=;+= @)^* df k|fKtu/]sf] of] k|df0fLs/0f rfn' cf=j= sf] nflu klg ;kmntfk"j{s gjLs[tePsf] 5 h;n] o; sDkgLsf] cGt/f{li6«o Joj;flos dfkb08nfO{cjnDag u/]sf] bzf{p“b5 . cfw'lgs ;"rgf k|ljlwsf] k|of]u ub}{PncfO{;L g]kfnn] clxn] cfkm\gf u|fxsx?nfO{ æhxfF;'s}af6 aLdfz'Nse'QmfgL ug{ ldNg] k|0ffnLÆ / æP;=Pd=P;= ;"rgf k|0ffnLÆ dfkm{t\;]jf pknAw u/fp“b} cfPsf] 5, h'g tYon] cfk\mgf laldtx?nfO{pTs[i6 ;]jf k|bfg ug]{ sDkgLsf] k|lta4tfnfO{ :ki6 ub{5 . sDkgLsf]sfo{;Dkfbgsf] lj:t[t ljj/0f ;+rfns ;ldltsf] ljj/0fdf 5'§}lbOPsf] ;d]t hfgsf/L u/fpg rfxG5' .

cGTodf, cfhsf] o; jflif{s ;fwf/0f ;efdf pkl:yt x'g'x'g] /pkl:yt x'g g;Sg' ePsf ;Dk"0f{ z]o/wgL dxfg'efjx?nfO{ xfdLk|ltb]vfpg' ePsf] ljZjf; / ;xof]usf] nflu xflb{s s[t1tf 1fkg ug{rfxG5' . To;} u/L d g]kfn ;/sf/, cy{ dGqfno, g]kfn /fi6« a}+s,aLdf ;ldlt, sDkgL /lhi6«f/ sfof{no, g]kfn lwtf]kq af]8{, g]kfn:6s PS;r]Gh ln= / cGo ;/sf/L ljefux?nfO{ pxf“x?af6 k|fKtlg/Gt/ ;xof]u / dfu{ lgb{]zgsf nflu cfef/ JoQm ug{ rfxG5' . xfd|faLdf°L, cfGtl/s tyf afx\o b'a} n]vfk/LIfsx?, ;Dk"0f{ laldtx?tyf Joj;flos ;fem]bf/x? klg cljlR5Gg ;xof]u / dfu{ lgb{]zgsfnflu k|z+;fsf] kfq x'g'x'G5 .

sDkgLdf cfa4 xfd|f laldtx?k|lt klg cfef/ JoQm ug{ rfxG5'lsgls pxf“x?sf] ljZjf;, ;xof]u / z'e]R5fsf] sf/0fn] xfdLx?n]oL ;kmntfx? k|fKt ug{ ;s]sf 5f}+ .

!!cf}+ jflif{s ;fwf/0f ;efkl5 ;]jf cjsf; jf sfo{sfn ;dflKtaf6;+rfnssf] sfo{sfn k"/f ug'{ x'g] # hgf ;+rfnsHo"x? >L l8=s]=d]x/f]qf -e"=k'= cWoIf_, >L yf]d; DofYo' 6L= / >L P;=s]= d'vhL{nfO{pxf“x?sf] pRr of]ubfgsf nflu cfef/ k|s6 ub{5' . sDkgLsf]pTyfg k|lt b]vfpg' ePsf] uxg cle?rL, lgoldt lgodg, ax'd"No;'emfj Pj+ ;dosf] nflu ;+rfns ;ldltsf jt{dfg ;b:ox?nfO{klg wGojfb 1fkg ug{ rfxG5' .

To;} u/L, PncfO{;L -g]kfn_ ln= sf] Joj:yfkg ;ldlt, sd{rf/Lx?/ ;d:t lkmN8kmf];{{n] cfkm\gf] st{Jok|lt pbfx/0fLo k|lta4tf, pT;'stf,nuglzntf / ;+u7gfTds sfo{ efjgfsf] k|bz{g u/L of] sDkgLnfO{g]kfnsf] aLdf pBf]udf ljlzi6 klxrfg lbnfpg ;kmn x'g' ePsf] 5 .t;y{, pxf“x?sf] d]xgt / of]ubfgsf] pRr ;Ddfg ug{ rfxG5' .

cfb/0fLo dlxnf tyf ;Hhga[Gb, o; ul/dfdo ;efdf oxf“x?nfO{k'gM xflb{s :jfut ub}{ eljiodf klg oxf“x?sf] lg/Gt/ ;xof]u /;'emfjsf] ck]Iff ub{5' .

wGojfb .

P;=s]= /f‘ocWoIf

8

Respected Shareholders, Ladies and Gentlemen,

We the Board of Directors are pleased to greet and welcome

all the shareholders present in this 12th Annual General Meeting

of Life Insurance Corporation (Nepal) Ltd.

Hope that you have all gone through the Audited Financial

Statements of the Company as at the end of Ashad, 2070. We

now present the report of the Board of Directors for the fiscal

year 2069-70 for discussion and approval. This is in compliance

with the provisions of Section 109 of the prevailing Companies

Act, 2063.

Nature of Business

The Company is engaged in the business of Life Insurance in

Nepal under the regulations of Beema Samiti and prevailing

laws of the land.

Economic Scenario

Directly or indirectly, the country has been going through a

difficult economic-scenario since past few years, in tune with

the happenings around the world. The low economic growth

rate, high rate of inflation, fluctuating Bank rates, Different

cash liquidity position as high remittances through foreign

employments are not timely utilized, increasing trade deficit

etc. have been the main challenges of the country´s economy

in the year 2069/70. Agriculture and Tourism, which are the

main sources of income of people of Nepal also did not show

much growth in the year. The downfall in economic scenario

directly affected the life insurance business of the company.

The interest rates on fixed deposits fluctuated in between 6.5%

to 10%, which impacted the investment pattern of the Company

in general.

Despite all these odd situations, the Company has been able to

show 8.84% growth in the first premium income, 32.21% growth

in total life fund, 34.34% growth in investments and 35.07%

growth in income from investments in the fiscal year 2069/70.

These could be possible because of the prudent financial

management, hard work of employees & agents and the

continued faith, the people of Nepal have in the Company.

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

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf] !@cf}+ jflif{s ;fwf/0f;efdf pkl:yt ;Dk"0f{ z]o/wgL dxfg'efjx?df xfdL ;+rfns;ldlt ;xif{ :jfut Pj+ clejfbg ug{ rfxG5f} .

z]o/wgL dxfg'efjx?n] sDkgLsf] n]vfk/LIf0f ePsf] ljlQo ljj/0fcWoog ul/;Sg' eof] xf]nf eGg] ljZjf;sf ;fy xfdL oxf“x? ;dIfcfly{s jif{ @)^(÷&) sf] ;+rfns ;ldltsf] k|ltj]bg sDkgL P]g,@)^# sf] bkmf !)( adf]lhd 5nkmn tyf cg'df]bgsf] nflu k]zug{ rfxG5f} .

Joj;fosf] k|s[lt

of] g]kfnsf] k|rlnt sfg"g, aLdf P]g tyf lgodfjnL / aLdf;ldltsf] k|ToIf lgodgdf /xL hLjg aLdf Joj;fodf ;+nUg /x]sf]sDkgL xf] .

cfly{s kl/b[io

k|ToIf jf ck|ToIf ?kdf laut s]xL aif{b]lv ljZje/ b]lvPsf]cfly{s sl7gfO{;“u} g]kfnsf] /fli6«o cy{tGq klg ;+qmd0fsflngcj:yfaf6 u'lh|/x]sf] 5 . Go"g cfly{s a[l4b/, pRr dx·Lb/, cl:y/a}+s Aofhb/, a}b]lzs /f]huf/af6 lelqPsf] /sdsf] cg'kof]uaf6l;lh{t cl:y/ gub t/ntf, a9\bf] Jofkf/ 3f6f cflb h:tf ljifox?g]kfnsf] cf=j= @)^(÷&) sf] d'Vo r'gf}tLx?sf ?kdf b]lvof] . o;jif{ g]kfnLx?sf] d"Vo cfo;|f]t s[lif / ko{6g If]qdf klg vf;}pNn]Vo k|ult x'g ;s]g . cfly{s If]qdf ePsf] vl:sbf] cj:yfn]b]zsf] ;du| hLjg aLdf Joj;fonfO{ klg k|lts"n c;/ k'Ug uof] .o;sf] ;fy} aif{e/ g} a}ls· Aofhb/ ^=%% b]lv !)% sf] aLrdf36a9 e}/xgfn] sDkgLsf] nufgLdf ;fdfGo c;/ k'Ug uof] .

o; k|sf/sf] laifd kl/l:yltsf] afah'b klg cf=j= @)^(÷&) dfo; sDkgLn] k|yd aLdfz"Ns cfDbfgLdf *=*$%, s"n hLjg aLdfsf]ifdf #@=@!%, nufgLdf #$=#$% / nufgLaf6 k|fKt cfodf#%=)&% sf] a[l4b/ xfl;n ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpgrfxG5f}+ . oL ;a} pknlAwx? sDkgLsf]] pTs[i6 ljlQo gLlt, sd{rf/Ltyf clestf{x?sf] d]xgt / g]kfnL hg;d'bfox?n] u/]sf] ckf/laZjf; tyf k"0f{ e/f];faf6 k|fKt ePsf x'g\ .

;+rfns ;ldltsf]

k|ltj]bg

Directors'Directors'Directors'Directors'Directors'

REPORT

9

;+rfns ;ldltsf] k|ltj]bg

Overview of Performance

Number of Policies sold

Year 2065-66 2066-67 2067-68 2068-69 2069-70

No. of Policies 52,891 48,813 46,404 59,098 65,022

Year 2065-66 2066-67 2067-68 2068-69 2069-70

FPI (In million) 327.4 414.3 496.7 844.24 918.94

2069-70 2070-71 Growth Rate

No. of Policies 18,834 29,842 58.44%

FPI (In Millions) 289.59 379.90 31.19%

The company has 3,21,683 policies in its book as at 31st Ashad

2070.

First Premium Income

We are happy to inform you that the company could register

8.84% growth in FPI and 10.02% growth in number of policies

as seen above in the just ended Financial Year. The average

premium per policy is at Rs 12843. The total premium collected

by the Company during 2069-70 stands at Rs.3168.60 Million.

Current year Performance (As at the end of Poush 2070)

Even though the economic scenario of the country has not stabilized

so far, you will observe that there is a healthy growth in the New

Business of the Company, both in number of policies and first

premium income, in the current year as well. We are hopeful that

the growth trend will accelerate further in the months to come.

Operational Overview

The company operates through its 31 branches at present,

which are spread across the country. As at the end of Ashad

2070, the Company has 120 staff members, three of whom are

expatriates deputed from India with ample experience &

knowledge in life insurance marketing and administrations,

while others are all from Nepal itself. The top executives of the

Company, ably supported by the Board, guide the employees

and field force, and are easily accessible at any time. Several

training and handholding sessions are conducted throughout

the year, in addition to periodic reviews, in order to enhance

the skills of the employees and agents so that they become

vibrant and responsive in addition to remaining competitive in

the market. The motto of the Company for current year is

Envisage, Engage, Endeavor.

Changes in the Board of Directors

After the 11th Annual General Meeting, two Directors from

Promoter group Sri D.K.Mehrotra (Ex-Chairman) and Sri Thomas

Joj;fosf] l;+xfjnf]sg

aLdfn]vx?sf] laqmL ;+Vof

o; sDkgLdf @)&) cfiff9 d;fGt;Ddsf] s"n ;lqmo aLdfn]vsf];+Vof #,@!,^*# /x]sf] ;xif{ hfgsf/L u/fpg rfxG5f}+ .

k|yd aLdfz"Ns cfDbfgL

cf=j= @)^(÷&) df sDkgLn] k|yd aLdfz"Ns cfDbfgLdf *=*$% /aLdfn]v laqmL ;+Vofdf !)=)@% sf] a[l4b/ xfl;n u/]sf] 5 . o;sDkgLsf] cf}ift aLdfz"Ns k|lt aLdfn]v ¿= !@,*$# /x]sf] 5 .sDkgLn] cf=j= @)^(÷&) df s"n aLdfz'Ns afkt ¿= #!^=*^ s/f]8/sd ;+sng ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpg rfxG5f} .

rfn' jif{sf] pknlJwM -@)&) ;fn kf}if d;fGt;Ddsf]_

b]zsf] cfly{s If]qn] :yfloTj gkfO /x]sf] cj:yfdf klg dflysf] cf“s8fn]rfn' cf=j= @)&)÷&! df aLdfn]v ;+Vof / k|yd aLdfz'Ns cfDbfgLb'a}df /fd|f] a[l4 ePsf] k|i6\ofp“5 . xfdL cffzf ub{5f+} ls sDkgLsf] of]Joj;flos a[l4b/ cfufdL dlxgfx?df lg/Gt/ sfod /xg] 5 eGg]s'/fdf xfdL cfzfjfbL 5f}+ .

Jofkf/ ;+rfng kl/b[io

sDkgLn] b]ze/ hDdf #! zfvfx? :yfkgf u/L cfkm\gf] Joj;fo ;+rfngul//x]sf] 5 . hLjg aLdf If]qdf cg'ejL tLg ef/tLo / af“sL ;a} g]kfnLx?;lDdlnt hDdf !@) hgf sd{rf/Lx? o; sDkgLdf xfn sfo{/t /x]sf5g\ . ;+rfns ;ldltaf6 lgb]{lzt pRr kbflwsf/Lx? sDkgLsf] cGosd{rf/Lx? / lkmN8 kmf];{nfO{ s'zntfk"j{s ;+rfng ub{5g\ . sDkgLdfJoj;flos Pj+ ;f}xfb{k"0f{ jftfj/0fdf pRr txsf sfo{sf/L;“u ;a} sd{rf/Lx?3'nldn ug{ ;Sg] ;xh jftfj/0f ljBdfg /x]sf] 5 . sd{rf/L /clestf{x?sf] bIftf a[l4 u/L cem k|lt:kwL{, ;an / lhDd]bf/ agfpgsfnflu jif{e/L ljleGg tflnd / dfu{ lgb]{zgsf sfo{qmdx? ;+rfng ul/b}cfPsf 5g\ . rfn' cf=j= sf nflu xfdLn] sDkgLsf] d"n l;4fGt kl/sNkgf,k|lta4tf, k|of;nfO{ cg';/0f ul//x]sf 5f}+] .

;+rfns ;ldlt kl/jt{g

!!cf}+ jflif{s ;fwf/0f ;efkl5 ef/lto hLjg aLdf lgudaf6k|ltlglwTj ug'{ x'g] ;+rfnsx? >L l8=s]= d]x/f]qf -lgjt{dfg cWoIf_

Directors' Report

Directors' Report;+rfns ;ldltsf] k|ltj]bg

10

Mathew T. (Ex-Director) who represented LIC of India resigned

owing to their retirement from services on attaining the age of

superannuation. In those vacant places in the Board, LIC of India

has designated Sri S.K. Roy as the Chairman and Sri S.B. Mainak

as the director. Likewise, the tenure of Independent Director Sri

S.K. Mukherjee ended and the Board appointed Sri V.K. Kukreja

in that place as Independent Director.

Factors Influencing Incomes

The lack of avenues for long term investment continues to be

the major cause of concern throughout. The rate of interest on

investment remained relatively low and even fluctuated

unevenly throughout the year The year 2069-70 witnessed

difficult situations and uncertain environment in the financial

markets.. Recently, the share market stands corrected to some

extent showing a rise in NEPSE Index. The P/L Accounts as at

the end of Ashad 2070 shows a Net profit of Rs. 27,73,46,216.

The Company had been able to take full advantage of the best

prevailing interest rates for investments and get most of the

investments done for the longest available term during the

year. The cost of operations has been kept under strict control

and efforts are being made to bring it down further without

affecting our operations. All these would help in creating long

term goodwill & result in bringing more value to our

shareholders and policyholders in the days to come.

Auditors

Mr. Satish Chandra Lal of M/S S.C. Lal Associates is holding office

as our statutory auditor till the ensuing AGM. He is eligible to

offer himself for reappointment and has done so and, The Board

of Directors have recommended for his reappointment for one

year for the current fiscal year with an increased fee of NRs

1,55,000. Mr. P.K. Swarnakar of M/S Devaki Bijay & Co. had

been our internal auditor last year. The Board of Directors on

the recommendation of the Audit Committee has reappointed

him for the current year as well with fee of Rs. 3,30,000 p.a.

Auditor’s Report

The opinion of the auditors on the accounts and systems of the

company is appended to this report. Their opinion that the

accounts and records of the company have been maintained

properly and that the investments are made in accordance

with the laws of the land gives us ample confidence about our

professional working and well laid systems.

/ >L yf]d; Dofy]pm 6L= n] pd]/xbsf sf/0f lbg' ePsf] /flhgfdfnfO{:jLs[t u/L pxf“x?sf] l/Qm :yfgdf lgudn] l;kml/; u/] cg';f/ >LP;=s]= /fonfO{ cWoIf / >L P;=aL= dfogfsnfO{ ;+rfnssf] ?kdfkb:yfkg ul/Psf] hfgsf/L u/fOG5 . To;} u/L, :jtGq ;+rfns>L P;=s]= d'vhL{sf] sfo{sfn ;dfKt ePsf] x'“bf ;f] l/Qm :yfgdf;+rfns ;ldltn] >L le=s]= s's\/]hfnfO{ :jtGq ;+rfnssf] ?kdfdgf]lgt u/]sf] 5 .

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

o; aif{ klg bL3{sflng nufgLsf] ;'–cj;/ k|fKt x'g g;Sg' ;a}sf]nflu rf;f] / lrGtfsf] ljifo /xg uof] . o; jif{ Aofhb/ t'ngfTds?kdf Go"g b]lvof]] eg] aif{e/L g} of] clgolGqt?kn] 36a9 e}/xof] .cf=j= @)^(÷&) n] jif{e/L clglZrt / sl7gfO{k"0f{ cfly{s ahf/sf];fdgf ug'{ k/]sf] b]lvG5 . ev{/} z]o/ ahf/df eg] s]xL ;s/fTdskl/0ffdx? b]lvPsf 5g\ . o; sDkgLsf] @)&) cfiff9 d;fGt;Ddsf]gfkmfgf]S;fg vftfdf ¿= @&,&#,$^,@!^ s"n d'gfkmf b]vfpg ;s]sf];xif{ hfgsf/L u/fOG5 . sDkgLn] nufgLaf6 ahf/df pknAwJofhb/sf] k"0f{ kmfObf lng ;dy{ ePsf] 5 eg] w]/}h;f] nufgLbL3{sflng cjlwsf nflu ul/Psf 5g\ . sDkgLsf] Aoj;fodf k|lts"nk|efj gkg]{ t/Lsfn] Aoj:yfksLo vr{nfO{ ;b}j lgoGq0f / Go"gLs/0fug]{ k|of; ul/Psf] 5 / eljiodf klg o;nfO{ lg/Gt/tf lbOg] 5 .o; k|sf/sf] k|of;af6 eljiodf cem /fd|f] kl/0ffd k|fKt eO{ xfd|fz]o/wgL / laldtx?nfO{ pRr nfe x'g] ljZjf; lnPsf 5f} .

n]vfk/LIfs

>L P;=;L= nfn P08 Pzf]l;P6\;sf rf6{8 PsfpG6]G6 >L ;lt;rGb| nfn o; jflif{s ;fwf/0f ;ef;Dd a}wflgs n]vfk/LIfssf]?kdf x'g'x'G5 . >L ;lt; rGb| nfn n]vfk/LIfssf] ?kdf k'glg{o'lQmx'g of]Uo x'g' eO{ cfkm"n] cfufld cf=j= @)&)÷&! sf nflu klgn]vfk/LIfssf] ?kdf sfo{ ug{ OR5f JoQm ug'{ePsf]n] n]vf ;ldltsf]l;kmfl/;df ;+rfns ;ldltn] pxf“sf] aflif{s ;]jfz'Ns a[l4 u/L¿= !,%%,))) lbg] zt{df k'glg{o'lQmsf] nflu l;kmfl/; ug]{ lg0f{ou/]sf] 5 . o; sDkgLsf] cfGtl/s n]vfk/LIfssf] ?kdf >L b]jsLljho P08 sDkgLsf rf6{8 PsfpG6]G6 >L lk=s]= :j0f{sf/ x'g'x'GYof] .;+rfns ;ldltn] n]vf ;ldltsf] l;kmfl/;df cf=j= @)&)÷&! sf]nflu klg o; sDkgLsf] cfGtl/s n]vfk/LIfssf] ?kdf >L lk= s]=:j0f{sf/nfO{ g} ¿= #,#),))) jflif{s ;]jfz'Ns k|bfg ug]{ zt{dfk'glg{o'lQm u/]sf] 5 .

n]vfk/LIfssf] k|ltj]bg

o;} k|ltj]bg;fy ;+nUg ul/Psf] n]vfk/LIfssf] dGtJo k|ltj]bgåf/fo; sDkgLsf] lx;fa lstfa k|rlnt sfg"g Pj+ k|rng cg';f//fv]sf] ;fy} nufgL jt{dfg sfg"g Pj+ lgb]{lzsf cg';f/ u/]sf] ;xif{hfgsf/L u/fpg kfp“bf o;n] sDkgLsf] k]zfut Pj+ k|0ffnLuttl/sf kf/bzL{ / :ki6 ePsf] bzf{Psf] 5 . To;n] xfdLnfO{ cem a9LcfTdljZjf; / xf};nf ;d]t k|bfg u/]sf] 5 .

_


11

Forfeiture of Shares

Since the inception of the company, no shares belonging to

anyone have been forfeited.

Life Fund

As at the end of Ashad 2070, the life fund of the Company stood

at Rs. 11,775.61 Million as against Rs. 8,906.34 Million at the

end of Ashad 2069. This means the life fund grew at the rate of

32.21% for the period.

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]ifdf ¿= *()=^#s/f]8 /x]sf]df To;df #@=@!% n] a[l¢ eO{ ldlt @)&) cfiff9d;fGt;Dddf hLjg aLdf sf]ifdf ¿= !,!&&=%^ s/f]8 /x]sf] ;xif{hfgsf/L u/fpg rfxG5f} .

Investments

The total investments of the Company (including policy loans

and short term investments) as at the end of Ashad 2070 stoodat Rs. 11993.33 Million as against Rs. 8927.42 Million as at the

end of Ashad 2069. This shows an increase of 34.34% and has

been done strictly as per the guidelines and rules existing in the

country, as well as, as per directions of the Board of Directorsand directives of the Regulator (Beema Samiti) from time to

time. The investments have been made in Govt. Bonds,

Development Bonds of Nepal Rastra Bank, Fixed deposits with

various Commercial Banks, Development Banks, FinanceCompanies, Citizen’s Investment Trust, and in Preference Shares

and Debentures of Banks and reputed public limited Companies.

Due to strict investment norms followed by the company, the

investment income has shown an increase of 35.07% in the justconcluded financial year even though the market conditions

were not so conducive. It is our endeavor to invest our surplus

in a prudent manner keeping the safety of funds uppermost in

our mind, but without losing sight of higher returns.

nufgL

ldlt @)^( cfiff9 d;fGt;Dddf s"n nufgL ¿= *(@=&$ s/f]8/x]sf]df ldlt @)&) cfiff9 d;fGt;Dddf s'n nufgL -aLdfn]vshf{ tyf 5f]6f] cjlwsf] nufgL ul/_ ¿= !!((=## s/f]8 /x]sf] 5 .o; cg';f/ #$=#$% n] nufgLdf a[l¢ ePsf] b]lvG5 ;fy} ;Dk"0f{nufgLx? k|rlnt P]g, ;+rfns ;ldltsf] lgb]{zg Pj+ >L aLdf;ldltsf] nufgL ;DjGwL gLlt tyf lgb]{lzsfsf] clwgdf /xL ul/Psf5g\ . o; sDkgLn] g]kfn ;/sf/sf] C0fkq, g]kfn /fi6« a}+ssf]ljsf;kqx?, afl0fHo a}+s, ljsfz a}+s / k|ltli7t ljlQo ;+:yfx?sf]d'2tL vftfx?, gful/s nufgL sf]if, a+}s Pj+ k|ltli7t klAnslnld6]8 sDkgLx?sf] lk|km/]Gz z]o/ / l8a]Gr/x?df nufgL u/]sf]5 . o; k|sf/sf] laj]sk"0f{ nufgLaf6 sDkgLn] o; jif{ cfkm\gf]k|ltkmndf #%=)&% sf] a[l¢b/ xfl;n u/]sf] 5 . sDkgLn] pknAwhu]8f /sdnfO{ nufgL ubf{ laj]sk"0f{ 9·n] ;'/lIft / pRrtdk|ltkmn lbg] :yfgx?df dfq nufgL ug{ k|of;/t 5 .


12

Financial Transactions by Directors

During the fiscal year 2069/70, the Company has not entered

into any financial transactions with either the Directors of the

Company or their relatives in any manner whatsoever except

payment of salary to the CEO, who is also a Director and

payment of sitting fees to all the Directors.

Income and Management Expenses

The total income of the Company during the year was 4238.68

million, showing a growth 27.36% over that of last year, with

income from investment (including interest incomes from loans

and advances) registering 35.07% growth during the year. The

total management expense ratio of the company continues to

be one of the lowest in the industry as seen from the reports

published. We are still maintaining the low level of management

expenses ratio which is 6.52%. Every effort is being made to

reduce these expenses further. The Overall Cost Ratio of the

company stands at 20.03%.

Payment to Directors and other Executives

A total of NRs 76,65,530 have been paid to Directors, CEO and

other Executives of the Company as per laid down rules in the

year 2069-70.

Statement of Remuneration of Directors and Executives is

as under:

;+rfnsx?åf/f ljlQo sf/f]af/

cfly{s jif{ @)^(÷&) df k|d'v sfo{sf/L clws[t hf] ;+rfns;d]t /xg' ePsf] 5, pxf“nfO{ lbOPsf] kfl/>lds / c? ;+rfnsx?nfO{k|bfg ul/Psf] a}7s eQf afx]s sDkgL;“u ;DalGwt ljlQo sf/f]af/df;~rfns / lghsf] gft]bf/sf] s'g} ;+nUgtf /x]sf] 5}g .

cfDbfgL / Aoj:yfkg vr{

ut aif{eGbf @&=#^% sf] a[l4 xfl;n eO{ o; jif{ sDkgLsf] s"ncfDbfgL ¿= $@#=*^ s/f]8 /x]sf] 5 . To;} u/L nufgLaf6 k|fKtePsf] cfDbfgL -shf{ / k]ZsLaf6 k|fKt Aofh cfDbfgL ;lxt_ df#%=)&% sf] a[l4 x'g uPsf] hfgsf/L u/fpg rfxG5f}+ . o; sDkgLsf]s"n Joj:yfksLo vr{ cg'kft g]kfnsf] hLjg aLdf pBf]udf k|sflztePsf k|ltj]bgx? x]bf{ cToGt Go"gtd /x“b} cfPsf] 5 . xfdLx?n]Joj:yfkg vr{ cg'kftnfO{ cem} klg Go"g sfod /fVg ;kmn ePsf5f} / o; jif{sf] Joj:yfkg vr{ cg'kft ^=%@% /x]sf] 5 . cfufdLlbgdf Aoj:yfkg vr{nfO{ sd ug]{ tkm{ sDkgL k|of;/t /xg] 5 .o; sDkgLsf] s"n vr{ cg'kft @)=)#% x'g uPsf] ;d]t hfgsf/Lu/fOG5 .

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

sDkgLsf] lgodfg';f/ o; cf=j= df sDkgLsf] ;+rfnsx?, k|d'vsfo{sf/L clws[t tyf cGo kbflwsf/Lx?nfO{ hDdf ¿= &^,^%,%#)e'QmfgL ul/Psf] 5 .

;+rfns tyf kbflwsf/Lx?nfO{ e'Qmfg ul/Psf] /sdljj/0f

Name Designation Amount Paid (Rs.) Type of Payment

Mr. D.K. Mehrotra Chairman 30,000 Sitting Fee*

Mr. Thomas Mathew T. Director 40,000 Sitting Fee*

Mr. Ashok Agrawal Director 75,000 Sitting Fee

Mr. S.K. Mukherjee Director 10,000 Sitting Fee

Mr. V.K. Kukreja Director 5,000 Sitting Fee

Mr. Rajendra Prasad Aryal Director 77,500 Sitting Fee

Mr. P.R. Mishra Director/CEO 30,000 Sitting Fee*

27,19,494 Salary and other amenities

Mr. R.K. Choudhary Asst.General Manager 23,05,011 Salary and other amenities

Mr. Uday Kumar Manager IT 23,73,525 Salary and other amenities

Total 76,65,530

* These payments are made to L.I.C.of India as these directors are employees of LICI.


13

Purchase of Property

No property has been purchased or sold by the Company during

the year as per section 141 of the Companies Act, 2063, except

purchase of cars for the use of officers as per the scheme

approved by the Board.

Valuation of Life Fund

A life Insurance Company is required to undertake valuation of

its funds by an Actuary once in every 3 years as per the provision

of Section 26 of the Insurance Act 2049 (1992) of Nepal. The

Company has already published three triennial actuarial

valuations. Beema Samiti issued instructions for declarations

of actuarial valuations every year from F.Y. 2068-69 onwards.

Accordingly, annual valuation results for 2068-69 showed a

surplus of Rs. 1,17,73,23,641, out of which Rs. 93,68,11,015 is

distributed to the Policyholders as Bonuses & these figures are

reflected in the financial statements for 2069-70.

Certification of the actuary regarding solvency of the company

and its capital adequacy up to 2068-69 is appended to the report.

Bonus to Policyholders

The Bonus rates of the company for 2068-69 are as below:

;Dklt vl/b

sDkgL P]g, @)^# sf] bkmf !$! adf]lhd ;+rfns ;ldltn] kfl/tu/]sf] of]hgf adf]lhd ;jf/L sf/x? sDkgLsf] clws[tx?sf] k|of]hgfy{lslgPsf 5g\ ;f] afx]s c? s'g} klg ;Dklt vl/b jf laqmL ul/Psf]5}g .

aLdfsf]ifsf] d"Nof°g

aLdf P]g @)$( -!((@_ sf] bkmf @^ adf]lhd hLjg aLdf sDkgLn]k|To]s tLg jif{df cfkm\gf] sf]ifsf] aLdf°Laf6 aLdf°Lo d'Nof°gu/fpg' kg]{ k|fjwfg 5 . o; sDkgLsf] tLg k6ssf]] aLdf°Lod'Nof°g k|sflzt e};s]sf 5g\ . >L aLdf ;ldltaf6 cf=j= @)^*÷^(b]lv hLjg aLdf sDkgLx?n] x/]s aif{ aLdf°Lo d"Nof+sg u/fpg' kg]{lgb]{zg hf/L e};s]sf] 5 . o;} lgb]{zg adf]lhd o; sDkgLn]u/fPsf] cf=j= @)^*÷^( sf] jflif{s aLdf°Lo d"Nof+sgaf6 art¿= !,!&,&#,@#,^$! b]lvg cfof] / ;f]af6 ¿= (#,^*,!!,)!%af]g;sf] ?kdf laldtx?nfO{ ljt/0f ul/Psf 5g\ h'g cf“s8fx?oxf“x?n] sDkgLsf] cf=j= @)^(÷&) sf] ljlQo ljj/0fdf b]Vg;Sg' x'g]5 .

cf=j= @)^*÷^( ;Ddsf] sDkgLsf] ;f]Ne]G;L / k“"hL kof{Kttfsf];Gbe{df aLdf°Lo k|df0fLs/0f o;} k|ltj]bg;fy ;+nUg ul/Psf] 5 .

laldtx?sf] nflu af]g;

o; sDkgLn] cf=j= @)^*÷^( sf nflu laldtx?nfO{ lgDgfg';f/sf]af]g;b/ k|bfg ug]{ lg0f{o u/]sf] lyof] .

To;} u/L, xfdLnfO{ >L aLdf ;ldltaf6 sDkgLsf] ;f]Ne]G;L dflh{g/ ;f]Ne]G;L cg'kft sfod /fVg] ;DaGwdf lgb]{zg k|fKt eof] h;cGtu{t cf=j= @)^(÷&) b]lv nfu" x'g] u/L ;ldltaf6 tf]lsPsf]9frf“df sDkgLsf] cf=j= @)^(÷&) sf] jflif{s aLdf°Lo d"Nof+sg;d]t u/fO{ gfkmf gf]S;fg lx;fanfO{ ljlQo ljj/0fdf ;dfj]zul/g' kg]{ /x]sf] lyof] . cf=j= @)^(÷&) sf] jflif{s aLdf°Lod"Nof+sgaf6 art ¿= !,^(,^!,^&,$)% k|fKt x'g cfPsf] 5 /

Again Beema Samiti issued instructions on Solvency Margins

and Solvency Ratios of the Companies, to be submitted in their

designed proforma with effect from F.Y. 2069-70 for which

actuarial valuations for 2069-70 should be completed & profit/loss

are to be incorporated in the financial statements for 2069-70

itself. The annual valuation results for 2069-70 showed a surplus

of Rs. 1,69,61,67,405 out of which Rs. 1,37,20,21,355 is

Old Rates

5-19 yrs. 52

20-24yrs. 55

25 yrs. & Above 70

Endowment

and

Jeevan Aanand

Policies

Money Back

Policies

15 yrs. 51

20 yrs. 52

25 yrs. 54

New Rates

5-19 yrs. 56

20-24yrs. 58

25 yrs. & Above 71

15 yrs. 55

20 yrs. 56

25 yrs. 57

Jeevan Tarang Policy

(Gurantted Pension

Plan)

10 yrs.

15 yrs.

20 yrs.

10 yrs. 56

15 yrs. 58

20 yrs. 71


14

distributed to the policyholders as Bonuses and these figures

are reflected in the financial statements for 2069-70.

Also, the certification of the Actuary regarding the Solvency of

the Company and its capital adequacy upto 2069-70 is

appended to the report.

New Bonus to the Policyholders

The Bonus rates of the Company for 2069-70 are as below:

;f]af6 ¿= !,#&,@),@!,#%% af]g;sf] ?kdf laldtx?nfO{ ljt/0ful/Psf 5g\ h'g cf“s8fx? oxf“x?n] sDkgLsf] cf=j= @)^(÷&) sf]ljlQo ljj/0fdf b]Vg ;Sg' x'g]5 .

cf=j= @)^(÷&) ;Ddsf] sDkgLsf] ;f]Ne]G;L / k“"hL kof{Kttfsf];Gbe{df aLdf°Lo k|df0fLs/0f o;} k|ltj]bg;fy ;+nUg ul/Psf] 5 .

laldtx?sf] nflu gof“ af]g;

cf=a= @)^(÷&) sf nflu laldtx?nfO{ lgDgfg';f/sf] gof“ af]g;b/sfod ul/Psf] 5 .

gof“ aLdf kf]ln;L

sDkgLn] cfkm\gf] !@cf}+ aflif{sf]T;jsf] cj;/df ldlt @)&)÷)%÷!^ut]sf lbg gof“ aLdf kf]ln;L æhLjg ;/n of]hgfÆ ahf/df NofPsf]5 . o; of]hgfdf laldtx?nfO{ pRr ;/ntf, t/ntf / nrstfh:tf cg'kd ljz]iftfx? k|bfg ul/Psf 5g\ .

z]o/wgLx?nfO{ nfef+z tyf af]g;

cf=j= @)^*÷^( / @)^(÷&) sf] clGtd aLdf°Lo d'Nof+sgx?af6cfPsf] kl/0ffdnfO{ ;dfj]z u/]kZrft\ sDkgLn] s"n gfkmf /sd¿= @&=&# s/f]8 /sd z]o/wgL vftfdf b]vfpg ;kmn ePsf] 5 .o; sDkgLsf] ;+rfns ;ldltn] pQm gfkmfaf6 xfd|f z]o/wgLx?nfO{sDkgLsf] r'Qmf k"“hLsf] #!=%&% nfef+z -¿= !%,(*,^*,$@! /sda/fa/sf]_ lbg] k|:tfj u/]sf] 5 h; cGtu{t #)% af]g; z]o/ / ;f]af]g; z]o/ lnP afkt g]kfn ;/sf/nfO{ a'emfpg' kg]{ s/ afktsf]/sd k|of]hgsf nflu !=%&% gub nfef+z k|:tfljt 5g\ . ;+rfns;ldlt sDkgLsf] xfnsf] clws[t k“"hL / r'Qmf k“"hLnfO{ a[l4 u/L¿= ^%=*!@% s/f]8 k'¥ofpg o; ul/dfdo ;efdf k|:tfj ub{5 .

PncfO{;L ejg lgdf{0f

o; sDkgLsf] skf]{/]6 ejg lgdf{0fsf nflu lgdf{0f sG;N6]G6sf]?kdf M/S MRB & ASSOCIATES, KATHMANDU nfO{ :jLs[lt k|bfgul/Psf] 5 . sf7df08f}sf] aa/dxnl:yt $ /f]kgL If]qkmn hUufdf

Introduction of New Products

On the occasion of LIC Nepal’s 12th anniversary at 01.09.2013,

the Company introduced a new product “Jeevan Saral”. “Jeevan

Saral” plan is a flexible insurance plan having simple features

with scope for liquidity and flexibility.

Dividend & Bonus for shareholders

With the closing of the books after the inclusion of the valuation

results for 2068-69 & 2069-70, the Company has shown

Rs. 277.35 Million as net profit in the Shareholders Account.

The Board of Directors proposes 31.57% of our paid up capital

amounting to Rs.15,98,68,421 as dividends out of this profit to

our valued Shareholders, and from this dividends, 30% as Bonus

Share, 1.57 % as cash dividends to meet tax on the total

dividends so declared are to be apportioned. The Board of

Directors also proposes to increase the Authorized Capital &

Paid up Capital of the company to Rs. 658.125 Million.

LIC Building Construction

The Board has approved the engagement of M/S MRB &

Associates, Kathmandu as our Consultant for construction of

the Corporate Office building. The foundation stone for the

Policy Term Bonus

Endowment (including Jeevan Anand) 5 to 19 61

Endowment (including Jeevan Anand) 20 to 24 65

Endowment (including Jeevan Anand) 25 and above 75

Money Back 15 61

Money Back 20 62

Money Back 25 63

Premium Term Bonus

Jeevan Tarang 10 61

15 63

20 72


15

!,$*@ j6f d[To' bfaLx? ;DkGg u/L ¿= @@=#! s/f]8 /sde'QmfgL eO{ ;s]sf] 5 . cf=j= @)^(÷&) df kl/kSjtf nfe, lhlat

settled since inception is 1482 in which we have paid Rs. 223.15

Million. We are happy to inform you that the company has

Corporate Office building of LIC Nepal has been laid at its 4

ropani of land at Babarmahal, Kathmandu on 2nd May’13. The

8 storied state of the art Corporate Office building is expected

to be constructed in 2 years.

Pact with CDS & Clearing Ltd and ICRA Nepal Ltd

LIC Nepal has made an agreement with CDS & Clearing Ltd. to

render service of dematerialization of securities. The conversion

of physical securities into electronic form (paperless form) will

provide safer, easier and faster service to the Shareholders.

The Company also made an agreement with ICRA (Nepal) Ltd,

- credit rating company to rate the securities situation for issue

of Right Shares of our Company. We have become the first and

only such ICRA rated Life Insurance Company in Nepal.

Customer Service

Networking, Premium Payment & Mobile SMS

The Company has developed a well-versed modern IT system

and all branches have been linked with the online networking

system. This state of the art IT system has enabled the company

to further improve the servicing to the Policyholders, making

service easier and more effective. LIC Nepal has successfully

introduced “ anywhere premium payment” system- it is now

possible for a customer to pay his premium in any branch of LIC

Nepal irrespective of where he/ she has taken the policy from.

Likewise, the Company has started “Mobile SMS Information

Service” to inform the policyholders regarding the premium

amount to be paid, payment deadline and premium receipt.

Claims

During the fiscal year 2069/70, we have settled 334 death claims

for an amount of Rs 57.50 Millions. The total death claims

skf]{/]6 ejg lgdf{0fsf] l;nfGof; @)&) a}zfv !( ut] ;DkGgul/Psf] 5 . * tNn] snfTds ejgsf] lgdf{0f sfo{ cfufdL@ jif{leqdf ;DkGg ul/;Sg] ljZjf; lnPsf 5f}+ .

l;l8P; P08 lSnol/· ln= / Oqmf g]kfn ln= ;“u ;Demf}tf

o; sDkgLn] l;l8P; P08 lSnol/· lnld6]8;u z]o/ lwtf]kqsf]cef}lts/0f ;'ljwf lngsf] nflu ;Demf}tf sfo{ cufl8 a9fPsf] 5 .z]o/ lwtf]kqnfO{ sfuhlalxg ljB'lts/0f k|0ffnLdf kl/0ft ubf{xfd|f z]o/wgLx?nfO{ cem a9L ;'/Iff, ;lhnf] / l56f] ;]jfx? k|fKtx'g]5 eGg] ljZjf; lnPsf 5f}+ . o;} jif{ sDkgLsf] xsk|b z]o/ hf/Lug]{ qmddf z]o/wgLx?nfO{ sDkgLsf] :ki6 cj:yfsf] hfgsf/Llbnfpg g]kfnsf] qm]l86 /]l6· sDkgL æOqmf g]kfn lnld6]8Æ;“u;Demf}tf ;DkGg eO{ d"Nof+sg u/fOPsf] lyof] . cfhsf] ldlt;Dddfof] sDkgL g]kfnsf] klxnf] / Ps dfq ICRA Rated Life Insurance

Company aGg k'u]sf] 5 .

Aofkf/Ls ;]jfx?

g]6jsL{·, aLdfz"Ns e'QmfgL / df]afOn P;PdP; ;]jf

sDkgLn] cTofw'lgs ;"rgfk|ljlwsf] dfWodaf6 ;a} zfvfsfof{nox?nfO{ cgnfOg g]6jsL{·df cfa4 ug{ ;kmn ePsf] 5 . of]s'zn ;"rgf k|ljlw dfkm{t\ xfd|f laldtx?nfO{ cem l56f] / ;/ntl/sfn] ;]jf k|bfg ug{ ;xof]u k'u]sf] 5 . cfw'lgs ;"rgf k|ljlwsf]k|of]u ub}{ u|fxsx?nfO{ ;kmntfk"j{s æh'g;'s} zfvfaf6 aLdfz"Nse'QmfgL ug{ ldNg] ;]jfÆ pknAw ul/b} cfPsf] 5f}+ . To;} u/L, xfnsDkgLn] laldtx?nfO{ pgLx?n] ltg'{ kg]{ aLdfz'Ns /sd, aLdfz'Nsa'emfpg] clGtd ldlt / aLdfz'Ns e'QmfgL k|fKt ePsf] hfgsf/Ldf]afOn P;PdP; ;]jf dfkm{t\ k|bfg ul/b} cfPsf] 5 .

d[To' bfaL

cf=j= @)^(÷&) df sDkgLn] hDdf ##$ j6f d[To' bfaLx? ;DkGgu/L ¿= %=&% s/f]8 /sd e'QmfgL u/]sf] 5 . ;'?jftb]lv xfn;Dd


16

achieved zero outstanding death, maturity and survival benefit

claims which is an unparalleled achievement in the entire

industry. All the maturity and survival benefit claims of the

company due in the fiscal, were settled in the fiscal itself, a

unique feat in the Life Insurance Market of Nepal. The total

claim amounts paid during the year is 327.86 Million.

Other Marketing Activities

During the year of review, the Company recruited 1176 new

agents. As at the end of Ashad 2070, we had 26441 agents on

roll out of whom 4142 have contributed to the business of the

Company. During the year just completed, 153 Agents have

become Centurions and 50 Agents have qualified to be the

member of prestigious MDRT Club for insurance professionals.

A continuous exercise is being undertaken to enhance the selling

skills of the agents, with refresher trainings, by providing them

with literature on marketing and allied subjects and keeping

them engaged through various innovative competitions.

Corporate Social Responsibility

Under CSR, LIC Nepal has focused its assistance to needy blind

children of the nation for their education and empowerment

support activities since last year. As a part of our first CSR

initiative, the Company has donated a total of Rs 1,00,000 to

the blind children of two schools i.e. Namuna Machchhindra

Higher Secondary School, Lagankhel, Lalitpur with Rs 65,000

and Adarsha Higher Secondary School Thimi Bhaktapur with Rs

35,000. Likewise, the Company has donated Rs. 5,00,000 to

Prime Minister Relief Fund for the assistance of Darchula Flood

victims. There shall be our continuous endeavors further in

future under CSR activities.

Corporate Governance

Company’s Board of Directors meet regularly as per the

prescribed rules. 66 such meetings have been held till date. In

addition to policy matters, the Board also provides strategic

direction, ensures financial discipline and accountability, and

also ensures protection of interest of the policy holders and

other stakeholders. The Board of Directors strictly act as per

the terms laid out in the Good Governance Guidelines for

insurers, 2069 issued by Beema Samiti.

Share purchased by Directors

During the financial year 2069/70, neither Directors nor Officers

of the Company have purchased any shares of the Company

and they have not been involved in any transactions related

thereto.

nfe / d[To' bfaL e'QmfgL k"0f{ ?kn] km5\of]{6 ug{ ;kmn x“'b} k"gM bfaLe'QmfgL ;Dkfbg sfo{df g]kfnsf] hLjg aLdf pBf]u d} o; sDkgLn]pRrtd dfkb08 sfod ug{ ;kmn ePsf] ;xif{ hfgsf/L u/fpgrfxG5f} . sDkgLn] e'QmfgL ug'{ kg]{ ;a} kl/kSjtf nfe / lhlatnfe e'QmfgLx? aLdf lgodfjnLsf] Dofbleq} ;f]xL cfly{s jif{df;Dkfbg ul/Psfn] sDkgLsf] ;kmntfdf cem ;'uGw ylkPsf] 5 .o; jif{ e'QmfgL ePsf] s"n bfaL /sd ¿= #@=&* s/f]8 /x]sf]hfgsf/L u/fp“b5f} .

cGo Aofkfl/s lqmofsnfkx?

cf=j= @)^(÷&) df sDkgLn] !,!&^ hgf gof“ clestf{x? lgo'Qmu/]sf] lyof] . To;} u/L @)&) cfiff9 d;fGt;Dddf sDkgLdf hDdf@^,$$! hgf clestf{x? sfo{/t /x]sf lyP h; dWo] $,!$@ hgfclestf{x?n] aLdf Aofkf/df ;lqmo of]ubfg k'¥ofpg' ePsf] 5 . o;jif{ !%# hgf clestf{x? ;tsaL/ / %) hgf aLdf k]zfsf];Ddflgt MDRT Club df ;b:o aGg ;kmn ePsf 5g\ . sDkgLsf]laqmL a9fpg] p2]Zon] gof“ clestf{x?nfO{ lgoldt ?kdf tflnd /laBdfg clestf{x?nfO{ cem a9L Aoj;flos agfpg dfs]{l68·;Lksf]cWoog ;fdfu|Lx?, k"gtf{huL tflnd tyf laqmosnfsf sfo{qmdx?;+rfng ul/b} cfPsf] 5g\ .

;+:yfut ;fdflhs pQ/bfloTj

ut aif{b]lv o; sDkgLn] ;+:yfut ;fdflhs pQ/bfloTj cGtu{tb]zsf g]qxLg afnaflnsfx?sf] lzIff / ;zlQms/0fdf cfkm\gf]Wofg s]lGb|t u/]sf] 5 . klxnf] k6s o; sDkgLn] @ ljBfnosfg]qxLg afnaflnsfx?nfO{ ¿= !,)),))) /sd ;xof]u k|bfg u/]sf]5, h; cGtu{t gd'gf dlR5Gb| pRr df=lj= nugv]n, nlntk'/nfO{¿= ^%,))) / cfbz{ pRr df=lj= l7dL, eQmk'/nfO{ ¿= #%,)))lbOPsf] lyof] . To;} u/L, sDkgLn] bfr'{nfsf af9Llkl8tx?sf] ;xof]ufy{egL ¿= %,)),))) k|wfgdGqL b}aL k|sf]k ;xfotf sf]ifdf /sdk|bfg u/]sf] lyof] . xfdL eljiodf klg ;+:yfut ;fdflhspQ/bfloTjnfO{ lg/Gt/tf lbg]5f}+ .

;+:yfksLo Aoj:yfkg

sDkgL ;+rfns ;ldltsf] a}7s P]g adf]lhd lgoldt ?kdf a:g]u/]sf] 5 . xfn;Dd ^^ j6f a}7sx? ;DkGg e};s]sf 5g\ . gLltlgdf{0fsf] cltl/Qm ;+rfns ;ldltn] sDkgLnfO{ /0fgLlts lgb]{zglbg], ljlQo cg'zf;g / hjfkmb]lxtf sfod u/fpg], laldt / cGo;]jfu|fxLx?sf] lxt/Iffy{ lglZrt\tf k|bfg ug]{ sfd u/]sf] 5 .To;sf] cltl/Qm sDkgLn] aLdssf] ;+:yfut ;'zf;g ;DjGwL lgb]{lzsf,@)^( sf k|fjwfgx?nfO{ s8fO{sf ;fy kfngf u/]sf] 5 .

;+rfnsx?åf/f z]o/sf] v/Lb

cfly{s jif { @)^(÷&) df o; sDkgLsf ;+rfns tyfkbflwsf/Lx?åf/f s'g} z]o/ v/Lb gul/Psf] tyf z]o/ sf/f]af/dflghx?sf] ;+nUgtf /x]sf] 5}g .


17

z]o/wgLx?af6 k|fKt hfgsf/L

z]o/wgL dxfg'efjx?af6 k|fKt x'g] ;'emfjnfO{ sDkgL ;b}j :jfutub{5 . z]o/wgLx?af6 k|fKt plrt ;'emfjx?nfO{ sDkgLsf] a[lQljsf;df of]ubfg k'/\ofpgsf] lglDt cjnDag ug]{ tkm{ xfd|f] k|oTg;b}j /xg] 5 .

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

k|rlnt P]g tyf sfg"g adf]lhd sDkgLsf] cGo s'g} s'/f v'nfpg'kg]{ 5}g .

cfef/ AoQm

;+rfns ;ldlt o; sDkgLnfO{ lg/Gt/ ;xof]u / dfu{ lgb{]zg ug]{g]kfn ;/sf/, cy{ dGqfno, g]kfn /fi6« a}+s, aLdf ;ldlt, g]kfnlwtf]kq af]8{, sDkgL /lhi6«f/ sfof{no, g]kfn :6s PS;r]Gh ln=/ cGo ;DjlGwt lgsfox?nfO{ xflb{s cfef/ JoQm ug{ rfxG5 .To;} u/L ;+rfns ;ldlt o; sDkgLnfO{ lg/Gt/ ;xof]u / dfu{lgb{]zg k|bfg ug]{ ef/tLo hLjg aLdf lgudsf ljleGg ljefux?nfO{s[t1tf JoQm ug{ rfxG5 . ;Dk"0f{ cfb/0fLo z]o/wgL / laldtdxfg'efjx?af6 sDkgLnfO{ lg/Gt/ k|fKt ;xof]u, ;lbR5f /cfTdljZjf;sf nflu klg cfef/ JoQm ug{ rfxG5f} .

o; sDkgLnfO{ gof“ prfO{sf] ;kmntfdf k'¥ofpg cljlR5Ggnuglzntf / d]xgt ug'{x'g] ;Dk"0f{ ahf/ k|ltlglwx? tyfsd{rf/Lx?nfO{ ;+rfns ;ldlt wGojfb lbg rfxG5 . sDkgLsf]n]vf k|0ffnLnfO{ pTs[i6 :t/df sfod /fVg ;xof]u / dfu{ lgb]{zgug'{ x'g] aLdf°L / rf6{8 PsfpG6]G6 Pj+ n]vfk/LIfs dxf]box?dfklg xfdL s[t1tf JoQm ug{ rfxG5f} . nfOkm OG:of]/]G; skf]{/]zg-g]kfn_ ln= g]kfnsf] Ps pTs[i6 æ;fdflhs k|lti7f / cfly{s dxTjaf]s]sf] ;+:yfÆ aGg ;sf];\ eGg] clek|fosf ;fy xfdL cfd g]kfnLhg;d'bfoaf6 eljiodf o:t} k|sf/sf] lg/Gt/ ;xof]u / ;lbR5fsf]]ck]Iff ub{5f}+ .

wGojfb .

;+rfns ;ldlt

Information/Suggestion from Shareholders

With our functioning being open and transparent, suggestions

from shareholders are always welcome. We would be delighted

to receive suggestions from your goodselves, for furthering the

growth of the Company and would definitely give due

consideration to these.

Any other matter to be disclosed

Apart from the above mentioned facts, there are no other

mandatory disclosures by the Company in accordance with any

of the existing laws of Nepal.

Expression of Gratitude

The Board of Directors acknowledges with gratitude the

support received from the honourable Government of Nepal,

the Ministry of Finance, Nepal Rastra Bank, Beema Samiti,

Security Board of Nepal, Office of the Company Registrar, Nepal

Stock Exchange and all other concerned Departments. The

Board of Directors would also like to acknowledge the guidance

and help received from the various departments of LIC of India.

The Board also places on record its gratitude to the

Shareholders and Policyholders of the company, who have

reposed their faith, trust and confidence in the Company by

their continued patronage.

The Board of Directors would like to thank all the marketing

intermediaries and all the members of staff of the Company for

their unstinted support and hard work without which the

Company would not have scaled these heights. Our gratitude is

also due to our Consultant Actuaries, Chartered Accountants

and Auditors for their support and guidance, in maintaining the

highest standards of corporate excellence. The Board of

Directors and the company sincerely solicit the continued

support and patronage of the public of Nepal to make the

Company “an organization of social repute and financial

significance” to the people of Nepal.

Thank you once again.

Board of Directors

18


19

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgP;= ;L= nfn P;f]lzP^\;\

S. C. LAL ASSOCIATESChartered Accountants

Jwagal, Kopundole, Lalitpur, Nepal.

P. O. Box No 9222, Kathmandu, Nepal

Tel +977 1 5550424 Web www.scla.com.np

Fax +977 1 5011187 Email [email protected]

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

z]o/wlg dxfg'efjx?nfO{ :jt+q n]vfk/LIfssf] k|ltj]bg

xfdLn] >L nfOkm OG:of]/]G; skf{]/]zg -g]kfn_ lnld6]8 sf] @)&) cfiff9 d;fGtsf] jf;nft / pQm ldltdf ;dfKt ePsf] cfly{s jif{sf] ;+nUg gfkmfgf]S;fg lx;fa, cfo Joo lx;fax¿ tyf gub k|jfx ljj/0f n]vfk/LIf0f u/L lgDg adf]hLdsf] k|ltj]bg lbPsf 5f}+ .

Joj:yfkgsf] bfloTj

n]vf, cfGtl/s lgoGq0f tyf ljlQo ljj/0f ;DjlGw k|0ffnL tyf 9f+rfsf] ljsf; tyf sfof{Gjog sDkgLsf] Joj:yfkgsf] bfloTj xf] . sDkgLsf] Joj:yfkgsf]bfloTj cGtu{t ljlQo ljj/0f unt cf+s8f, hfn;fhL / ;f/e"t ¿kdf q'l6 /lxt 5 egL ljlQo ljj/0f tof/L / k|:t"tLs/0f ug{] ;DaGwL cfGtl/s lgo+q0fk|0ffnLsf] th'{df, sfof{Gjog / ;+rfng ug{] sfo{, n]vfgLltsf] 5gf}6 tyf sfof{Gjog, Pj+ n]vf ;DaGwL dxTjk'0f{ cg'dfgx¿ kb{5g\ .

n]vfk/LIfssf] bfloTj

xfd|f] sfo{ sDkgLn] /fvL b]vfPsf] >]:tf Pj+ sfuhftx¿ dfly g]kfn n]vfk/LIf0f dfg cg'¿k n]vfk/LIf0f ul/ k|:t't ljlQo ljj/0f pk/ dGtJo JoQmug{' /x]sf] 5 . pk/f]Qfg';f/ dGtJo lbg xfdLn] pk/f]Qm ljlQo ljj/0fx¿ g]kfn n]vfk/LIf0f dfg cg';f/ n]vfk/LIf0f u/]sf 5f}+ . pk/f]Qm dfg cg';f/ljlQo ljj/0fx¿df pNn]vgLo e|dk'0f{ ljj/0f 5 5}g lglZrt ug{ plrt of]hgf jgfO{ n]vfk/LIf0f sfo{ ug{' kb{5 . n]vfk/LIf0f cGtu{t n]vf tyf ;DjlGwtsfuhftx¿sf 58\s] hf+rsf ;fy} ljlQo ljj/0fx?df v'nfOPsf tYo, ckgfOPsf n]vfgLltx¿, Joj:yfkgåf/f cg'dfg ul/Psf ;DklQ tyf bfloTjsf]kl/df0fLs/0f Pj+ cfly{s ljj/0fx¿sf] k|:t"tLs/0fsf] d'Nof°g ul/G5 .

:jt+qtf

n]vfk/LIf0fsf] qmddf xfdLn] g]kfndf k|rlnt tyf nfu" /x]sf :jt+qtf ;DalGw Jofj;flos cfr/0f / cfjZostfx¿sf] kfng u/]sf 5f}+ .

n]vfk/LIf0f dGtJo

xfd|f] /fodf / xfdLn] hfg] a'e]m ;Dd tyf xfdLnfO{ pknJw u/fOPsf] ;"rgfsf] cfwf/df ;+nUg jf;nftn] sDkgLsf] @)&) cfiff9 d;fGtsf] oyfy{ cfly{scj:yfsf] Pj+ ;+nUg gfkmf gf]S;fg lx;fa / cfo Joo lx;fax¿n] ;f]xL ldltdf ;dfKt ePsf] cfly{s jif{sf] ;+rfng gtLhf tyf gub k|jfx ljj/0fn]gub k|jfxsf] ;d'lrt lrq0f ub{5 .

g]kfn sDkgL P]g @)^# df pNn]lvt k|fjwfgx¿ adf]lhdsf] k|ltj]bg

!= n]vfk/LIf0fsf]nflu xfd|f] hfgsf/L tyf ljZjf; cg';f/ cfjZos ;"rgf Pj+ :kli6s/0f k|fKt eof] .@= xfd|f] /fodf k]z ePsf] jf;nft, gfkmf gf]S;fg lx;fa / gub k|jfx ljj/0f nufotsf ljlQo ljj/0fx¿ tf]lsPsf] 9f+rf / t/Lsf cg'¿k tof/ ePsf]

5 / pQm ljlQo ljj/0fx¿ sDkgLn] /fv]sf] lx;fa lstfa, axL vftf, >]:tf / n]vf;+u b'¿:t /x]sf] 5 .#= sDkgLsf] lx;fa lstfa, axL vftf, >]:tf / n]vf k|rlnt sfg"g adf]lhd /flvPsf] 5 .$= sDkgLsf] s'g} kbflwsf/Ln] sfg"g ljk/Lt s'g} sfdsfh jf a]lx;fa jf clgoldt sfo{ jf sDkgLnfO{ xfgL gf]S;fgL u/] u/fPsf] xfd|f] hfgsf/Ldf cfPsf]

5}g .%= xfd|f] /fodf ;+:yfsf] sf/f]af/ ;Gtf]ifk|b ¿kaf6 ;+rfng ePsf] 5 .

lg= P;= ;L= nfn P;f]lzP6\;\rf6{8{ Psfp06]06\;\

l;P ;tLz rGb| nfn

nlntk'/M

ldltM @)&)÷!)÷@

20

CIL 12th ANNUAL REPORT12th ANNUAL REPORTP;= ;L= nfn P;f]lzP^\;\

S. C. LAL ASSOCIATESChartered Accountants

Jwagal, Kopundole, Lalitpur, Nepal.

P. O. Box No 9222, Kathmandu, Nepal

Tel +977 1 5550424 Web www.scla.com.np

Fax +977 1 5011187 Email [email protected]

For S. C. Lal AssociatesChartered Accountants

CA Satish Chandra Lal

Independent Auditors Report to the Shareholders of

Life Insurance Corporation (Nepal) Ltd.

We have audited the accompanying Balance Sheet, Profit and Loss Account, Revenue Accounts and Cash Flow Statement of the Life InsuranceCorporation (Nepal) Limited as of 31st Ashadh 2070 and report as following.

Responsibility of the Management of the Company

It is the responsibility of the management to establish and maintain system of internal control to enable the preparation of financial statement that is free frommaterial misstatement, whether due to fraud and error. The management is also responsible to prepare and present financial statements in conformity withthe Nepal Accounting Standards. This responsibility includes selecting and applying appropriate accounting policies and making accounting estimates thatare reasonable in the circumstances.

Auditor’s Responsibility and Scope

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Nepal Standardson Auditing. Those standards require that we comply with the ethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free of material misstatement.

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. The procedures selecteddepend upon the auditor’s judgment, including the assessment of risks of material misstatement of the statement, whether due to fraud or error. In makingthose risk assessments, the auditor considers internal control relevant to the organization’s preparation of the statements in order to design auditprocedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the organization’s internalcontrol. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overallfinancial statement presentation.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

Independence

In conducting our audit we followed appropriate independence requirements of Nepalese professional ethical pronouncements.

Audit Opinion

In our opinion, the aforementioned financial statements read together with notes on accounts annexed herewith, are presented fairly, in all material respects,the financial position of the Company as of 31st Ashadh 2070, the results of its operation and its cash flows for the year then ended in accordance with NepalAccounting Standards and comply with Companies Act, 2063.

Report on matters required under Companies Act, 2063

1. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit;

2. In our opinion, the balance sheet, Profit and Loss Account and the Cash Flow Statement referred in this report have been prepared in accordancewith Companies Act, 2063 and are in agreement with the books of account maintained by the company;

3. In our opinion, proper books of account as required by prevailing law have been kept by the company so far as appears from our examination of suchbooks;

4. To the best of our information and according to explanations given to us and from our examination of the books of account of the company necessaryfor the purpose of our audit, we have not come across cases where Board of Directors or any employee of the company have acted contrary to theprovisions of law, or committed any misappropriation or caused loss or damage to the company.

Kathmandu:

Dated: 2070/10/2

21

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgnfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=

@)&) cfiff9 d;fGtsf] jf;nft

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

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

16

17

11

18

19

20

21

3

23

22

21

23

24

25

26

9

26 s

27

1

2

3

4

5

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

>f]tr'Qmf k"“hLhu]8f tyf sf]ifhLjg aLdf sf]ifdxf–ljkQL hu]8fltg{ af“sL bL3{sflng C0f tyf ;fk6Ls"n >f]tpkof]ul:y/ ;DkQL -v'b_lb3{sflng nufgLaLdfn]vsf] lwtf]df shf{cGo bL3{sflng shf{rfn' ;DkQL shf{ tyf k]ZsLx?gub tyf a}+s df}HbftcNksflng nufgLcGo cNksflng shf{cGo ;DkQLhDdf -s_ -!)+!!+!@+!#_rfn' bfloTj tyf Joj:yfx?rfn' bfloTjc;dfKt hf]lvd jfkt Joj:yfe'QmfgL x'g af“sL bfjL afkt Joj:yfcGo Aoj:yfhDdf -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 -^+&+*+(+!*+!(+@)_

405,000,000

272,497,002

11,775,627,360

- .

- .

12,453,124,36212,453,124,36212,453,124,36212,453,124,36212,453,124,362

213,815,961

7,300,207,824

1,289,643,812

16,562,670

288,787,886

3,403,481,146

160,627,531

800,051,333

4,652,947,8964,652,947,8964,652,947,8964,652,947,8964,652,947,896

982,439,325

- .

5,454,984

71,074,170

1,058,968,4791,058,968,4791,058,968,4791,058,968,4791,058,968,479

3,593,979,417

38,914,678

- .

12,453,124,36212,453,124,36212,453,124,36212,453,124,36212,453,124,362

r'Qmf jf e'QmfgL x'g af“sL nufgLk|Tofe"lt k|lta4tfaLdfn]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/]k'8]zg ul/Psf] d[To' bfjL

hDdf

- .

- .

- .

- .

13,105,829

13,105,82913,105,82913,105,82913,105,82913,105,829

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

;+efljt bfloTjx?

250,000,000

158,576,178

8,906,342,944

- .

- .

9,314,919,1229,314,919,1229,314,919,1229,314,919,1229,314,919,122

210,249,387

7,186,397,364

824,064,633

13,657,297

211,914,887

916,961,001

87,021,228

520,256,498

1,736,153,6141,736,153,6141,736,153,6141,736,153,6141,736,153,614

631,190,237

- .

4,508,656

71,073,091

706,771,984706,771,984706,771,984706,771,984706,771,984

1,029,381,630

51,168,811

- .

9,314,919,1229,314,919,1229,314,919,1229,314,919,1229,314,919,122

- .

- .

- .

- .

11,254,488

11,254,48811,254,48811,254,48811,254,48811,254,488

ljlkg s'df/ nfna= ljQ clws[t

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22

CIL 12th ANNUAL REPORT12th ANNUAL REPORTLife Insurance Corporation (Nepal) Ltd.

Balance Sheet as on 31st Ashad 2070 (15th July 2013)

S.N. Particulars Schedule Current Year Previous Year

Sources

1 Paid up capital 16

2 Reserves & Surplus 17

3 Life Insurance Fund 11

4 Catastrophe Reserve 18

5 Long Term Loans & Borrowings 19

Total Sources

Uses

6 Fixed Assets (Net) 20

7 Long Term Investments 21

8 Policy Loans 3

9 Other Long Term Loans 23

Current Assets, Loans and advances:

10 Cash and Bank Balance 22

11 Short Term Investments 21

12 Other Short Term Loans 23

13 Other Assets 24

Total (A){10+11+12+13}

Current liabilities and provisions:

14 Current Liabilities 25

15 Provision for Unexpired Risk 26

16 Provision for outstanding Claims 9

17 Other Provision 26a

Total (B) {14+15+16+17}

18 Net Current Assets C = (A-B)

19 Miscellaneous Expenses (To the extent not written off) 27

20 Loss Transferred from Profit & Loss Account

Total Uses (6+7+8+9+18+19+20)

Contingent Liabilities and Schedule 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 – -

2 Underwriting Commitment – -

3 Claim other than insurance business not accepted by the company – -

4 Guarantee issued by insured or on behalf of insured – -

5 Other (Death Claims Repudiated) 13,105,829 11,254,488

Total 13,105,829 11,254,488

250,000,000

158,576,178

8,906,342,944

- .

- .

9,314,919,122

210,249,387

7,186,397,364

824,064,633

13,657,297

211,914,887

916,961,001

87,021,228

520,256,498

1,736,153,614

631,190,237

- .

4,508,656

71,073,091

706,771,984

1,029,381,630

51,168,811

- .

9,314,919,122

405,000,000

272,497,002

11,775,627,360

- .

- .

12,453,124,362

213,815,961

7,300,207,824

1,289,643,812

16,562,670

288,787,886

3,403,481,146

160,627,531

800,051,333

4,652,947,896

982,439,325

- .

5,454,984

71,074,170

1,058,968,479

3,593,979,417

38,914,678

- .

12,453,124,362

As per our report of even date

CA. S.C. LalPrincipal

For S.C. Lal & Associates

Chartered Accountants

Bipin Kumar LalSr. Finance Officer

V.K. KukrejaDirector

Rajesh Kumar ChoudharyAsst. General Manager


P.R. MishraCEO/Director

S.B. MainakDirector

Rajendra AryalDirector

S.K. RoyChairman

23


cfly{s jif{ @)^(/)&) sf] gfkmf gf]S;fg lx;fa

cfDbfgLcfo Joo lx;faaf6 ;f/]sf]hLjg aLdf sf]ifaf6 ;f/]sf]nufgL shf{ tyf cGoaf6 cfoJoj:yf lkmtf{cGo cfDbfgL -ljj/0f v'nfpg]_hDdf cfDbfgL -s_vr{Joj:yfkg vr{ckn]vg vr{z]o/ ;DalGw vr{cGo vr{x?gf]S;fgLsf] nflu Joj:yfsd{rf/L cfjf; Joj:yfsd{rf/L af]g; Joj:yf;dfof]lht cfos/ -c_ = -cf_–-O_-cf_ cfos/-O_ :yug s/ ;DklQ÷bfloTjhLjg aLdf sf]ifdf ;f/]sf]hDdf vr{ -v_v'b gfkmf÷-gf]S;fg_ -u_ = -s_–-v_cl3Nnf] jif{;“u ;DalGwt vr{cl3Nnf] jif{af6 ;fl/Psf] gfkmf÷-gf]S;fg_af“8kmf“8sf] nflu pknAw /sd-s_ :yug s/ hu]8f-v_ k"“hLut hu]8f-u_ ljz]if hu]8f-3_ cGo hu]8f -ljj/0f v'nfpg]_-ª_ k|:tfljt nfef+z-c_ af]g; z]o/-cf_ gub nfef+z-r_ dxf–ljkQL hu]8f

jf;nftdf ;f/]sf] gfkmf÷-gf]S;fg_


- .

282,849,104

31,703,657

11,905,626

- .

326,458,387326,458,387326,458,387326,458,387326,458,387

22,556,768

35,484

1,313,108

- .

- .

- .

27,504,821

(2,298,010)

- .

- .

- .

49,112,17149,112,17149,112,17149,112,17149,112,171

277,346,216277,346,216277,346,216277,346,216277,346,216

- .

3,144,207

280,490,423280,490,423280,490,423280,490,423280,490,423

3,619,696

- .

- .

- .

- .

151,875,000

7,993,421

- .

117,002,306117,002,306117,002,306117,002,306117,002,306

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

10

11

2

12

7

13

13 s14

15

26 s26 s

8

11

17

17

17

17

17

26 s

18

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

1,321,686

3,619,696

- .

194,148,045

16,966,474

134,478

- .

211,248,997211,248,997211,248,997211,248,997211,248,997

24,835,382

1,608

50,000

- .

- .

- .

16,942,001

(2,354,422)

- .

- .

- .

39,474,56939,474,56939,474,56939,474,56939,474,569

171,774,428171,774,428171,774,428171,774,428171,774,428

- .

(5,040,356)

166,734,073166,734,073166,734,073166,734,073166,734,073

- .

- .

- .

- .

- .

155,000,000

8,157,895

- .

3 ,576,1783,576,1783,576,1783,576,1783,576,178




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24


Income

Transferred from Revenue A/C

Transferred from Life Insurance Fund

Income from Investment Loan and Others

Written Back Provision

Other Income

Total Income (A)

Expenses

Management expenses

Written off expenses

Share related expenses

Other expenses

Provision for loss

Provision for Employees housing

Provision for Employees Bonus

Adjusted Income tax A = (B-C)

B. Income Tax

C. Defferred Tax Assets/(Liabilities)

Transferred to Life Fund

Total Expenses (B)

Net Profit/(loss) A = (B-C)

Expenses pertains to Previous year

Profit transferred from Previous year

Amount avialable for Apporopriation

(a) Deferred tax reserve

(b) Capital reserve

(c) Special reserve

(d) Other reserve

(e) Proposed dividend

(f) Bonus share

(g) Cash dividend

(h) Catastrophy reserve

Profit transferred to Balance sheet

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

Schedule 2, 7, 8 &10 to 15, 17, 18 & 26 A are integral part of this Profit & Loss Account.

1,321,686

3,619,696


Profit and Loss Account for the year of 2069/070 (2012/13)


10

11

2

12

7

13

13 (A)

14

15

26 (A)

26 (A)

8

11

17

17

17

17

17

26 (A)

18

- .

282,849,104

31,703,657

11,905,626

- .

326,458,387

22,556,768

35,484

1,313,108

- .

- .

- .

27,504,821

(2,298,010)

- .

- .

- .

49,112,171

277,346,216

- .

3,144,207

280,490,423

3,619,696

- .

- .

- .

- .

151,875,000

7,993,421

- .

117,002,306

- .

194,148,045

16,966,474

134,478

- .

211,248,997

24,835,382

1,608

50,000

- .

- .

- .

16,942,001

(2,354,422)

- .

.- .

- .

39,474,569

171,774,428

- .

(5,040,356)

166,734,073

- .

- .

- .

155,000,000

8,157,895

- .

3,576,178










S.B. MainakDirector


S.K. RoyChairman

25

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgnfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^(÷)&) sf] Plss[t cfo Joo lx;fa

cfoaLdfz'Ns -v'b_k'gaL{df sldzg cfonufgL, shf{ tyf cGoaf6 cfoaLdfn]vsf] lwtf]df shf{af6 cfocGo k|ToIf cfocfly{s jif{sf] z'?sf] e'QmfgL x'g af“sL bfjL jfkt Joj:yfcfly{s jif{sf] z'?sf] c;dfKt hf]lvd jfkt Joj:yfhDdf cfo -s_JoobfjL e'QmfgL -v'b_clestf{ sldzg:jf:Yo k/LIf0f z'Nsk'gaL{df sldzg vr{;]jf z'Ns -v'b_cGo k|ToIf vr{Joj:yfkg vr{cfos/cfly{s jif{sf] cGTodf e'QmfgL x'g af“sL bfjL jfkt Joj:yfcfly{s jif{sf] cGTodf c;dfKt hf]lvd jfkt Joj:yfhDdf Joo -v_hLjg aLdf sf]ifdf ;f/]sf] artgfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_


3,150,543,765

4,287,502

905,353,923

109,777,300

37,013,304

4,508,656

- .

4,211,484,4504,211,484,4504,211,484,4504,211,484,4504,211,484,450

327,859,992

395,342,800

11,389,842

- .

31,505,438

- .

183,996,887

104,232,958

5,454,984

- .

1,059,782,9011,059,782,9011,059,782,9011,059,782,9011,059,782,901

3,151,701,5493,151,701,5493,151,701,5493,151,701,5493,151,701,549

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9

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

2,525,597,268

2,347,177

689,549,208

66,636,125

26,766,753

3,107,243

- .

3,314,003,7743,314,003,7743,314,003,7743,314,003,7743,314,003,774

233,136,813

325,158,258

9,237,884

- .

25,255,973

- .

223,518,439

44,165,402

4,508,656

- .

864,981,425864,981,425864,981,425864,981,425864,981,425

2,449,022,3492,449,022,3492,449,022,3492,449,022,3492,449,022,349

- .




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26


Consolidated Revenue Account for the F.Y. 2069/070 (2012/13)

Income

Net Premium

Re-Insurance Commission Income

Investment, Loan And Other Income

Income from Policy Loan

Other Direct Income

Provision for outstanding claims at the beginning of the year

Provision for unexpired risk at the beginning of the year

Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees

Re-Insurance Commission Expenses

Service Charges (Net)

Other Direct Expenses

Management Expenses

Income Tax

Provision for Outstanding claim to be paid at the end of the year

Provision for unexpired Risk to be paid at the end of the year

Total Expenditure (B)

Surplus Transferred to Life Fund (A-B)

Surplus/Loss Transferred to Profit & Loss Account

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9

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


3,150,543,765

4,287,502

905,353,923

109,777,300

37,013,304

4,508,656

- .

4,211,484,450

327,859,992

395,342,800

11,389,842

- .

31,505,438

- .

183,996,887

104,232,958

5,454,984

- .

1,059,782,901

3,151,701,549

- .

2,525,597,268

2,347,177

689,549,208

66,636,125

26,766,753

3,107,243

- .

3,314,003,774

233,136,813

325,158,258

9,237,884

- .

25,255,973

- .

223,518,439

44,165,402

4,508,656

- .

864,981,425

2,449,022,349

- .










S.B. MainakDirector


S.K. RoyChairman

27


nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^(÷)&) sf] ;fjlws hLjg aLdfsf] cfo Joo lx;fa


cfoaLdfz'Ns -v'b_k'gjL{df sldzg cfonufgL, shf{ tyf cGoaf6 cfoaLdfn]vsf] lwtf]df shf{af6 cfocGo k|ToIf cfocfly{s jif{sf] z'?sf] e'QmfgL x'g af“sL bfjL jfkt Joj:yfcfly{s jif{sf] z'?sf] c;dfKt hf]lvd jfkt Joj:yfhDdf cfo -s_JoobfjL e'QmfgL -v'b_clestf{ sldzg:jf:Yo k/LIf0f z'Nsk'gaL{df sldzg vr{;]jf z'Ns -v'b_cGo k|ToIf vr{Joj:yfkg vr{cfos/cfly{s jif{sf] cGTodf e'QmfgL x'g af“sL bfjL jfkt Joj:yfcfly{s jif{sf] cGTodf c;dfKt hf]lvd jfkt Joj:yfhDdf Joo -v_hLjg aLdf sf]ifdf ;f/]sf] artgfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_


984,525,131

532,870

398,951,977

62,674,612

11,144,727

46,000

- .

1,457,875,3171,457,875,3171,457,875,3171,457,875,3171,457,875,317

158,005,496

114,110,148

3,485,561

- .

9,845,251

- .

57,976,717

49,269,444

642,563

- .

393,335,180393,335,180393,335,180393,335,180393,335,180

1,064,540,1371,064,540,1371,064,540,1371,064,540,1371,064,540,137

- .

786,392,260

306,100

317,886,167

44,912,005

8,986,027

350,151

- .

1,158,832,7101,158,832,7101,158,832,7101,158,832,7101,158,832,710

104,217,230

84,457,684

2,412,020

- .

7,863,923

- .

71,238,317

23,374,640

46,000

- .

293,609,814293,609,814293,609,814293,609,814293,609,814

865,222,896865,222,896865,222,896865,222,896865,222,896

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

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28


Revenue Account of Endowment Policy for the F. Y. 2069/070

Income

Net Premium


Investment, Loan and Other Income

Income from Policy Loan

Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax






984,525,131

532,870

398,951,977

62,674,612

11,144,727

46,000

- .

1,457,875,317

158,005,496

114,110,148

3,485,561

- .

9,845,251

- .

57,976,717

49,269,444

642,563

- .

393,335,180

1,064,540,137

- .

786,392,260

306,100

317,886,167

44,912,005

8,986,027

350,151

- .

1,158,832,710

104,217,230

84,457,684

2,412,020

- .

7,863,923

- .

71,238,317

23,374,640

46,000

- .

293,609,814

865,222,896

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9












S.B. MainakDirector


S.K. RoyChairman

29


cfly{s jif{ @)^(÷)&) sf] clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Joo lx;fa



543,978,823

36,238

181,304,515

14,364,252

8,809,250

3,611,656

- .

752,104,734752,104,734752,104,734752,104,734752,104,734

112,381,542

48,953,922

461,470

- .

5,439,788

- .

32,980,028

21,432,244

3,191,747

- .

224,840,741224,840,741224,840,741224,840,741224,840,741

527,263,993527,263,993527,263,993527,263,993527,263,993

- .

508,086,457

43,631

146,474,348

7,900,526

6,784,388

2,527,092

- .

671,816,442671,816,442671,816,442671,816,442671,816,442

92,102,782

54,956,756

935,459

- .

5,080,865

- .

45,942,694

9,527,313

3,611,656

- .

212,157,525212,157,525212,157,525212,157,525212,157,525

459,658,917459,658,917459,658,917459,658,917459,658,917

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9





czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

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30


Revenue Account of Anticipated Endowment Policy for the F. Y. 2069/070

Income

Net Premium



Income From Policy Loan

Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax







508,086,457

43,631

146,474,348

7,900,526

6,784,388

2,527,092

- .

671,816,442

92,102,782

54,956,756

935,459

- .

5,080,865

- .

45,942,694

9,527,313

3,611,656

- .

212,157,525

459,658,917

- .

543,978,823

36,238

181,304,515

14,364,252

8,809,250

3,611,656

- .

752,104,734

112,381,542

48,953,922

461,470

- .

5,439,788

- .

32,980,028

21,432,244

3,191,747

- .

224,840,741

527,263,993

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9











S.B. MainakDirector


S.K. RoyChairman

31


nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^(÷)&) sf] ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Joo lx;fa



1,470,873,186

3,164,179

304,448,201

31,244,583

16,149,749

851,000

- .

1,826,730,8981,826,730,8981,826,730,8981,826,730,8981,826,730,898

53,336,576

205,781,976

5,299,860

- .

14,708,732

- .

84,768,808

31,742,718

1,620,674

- .

397,259,344397,259,344397,259,344397,259,344397,259,344

1,429,471,5541,429,471,5541,429,471,5541,429,471,5541,429,471,554

- .

1,167,504,747

1,869,554

214,450,987

13,301,493

10,492,758

230,000

- .

1,407,849,5391,407,849,5391,407,849,5391,407,849,5391,407,849,539

35,187,370

177,198,995

5,228,248

- .

11,675,047

- .

100,740,029

10,776,306

851,000

- .

341,656,995341,656,995341,656,995341,656,995341,656,995

1,066,192,5441,066,192,5441,066,192,5441,066,192,5441,066,192,544

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9





czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



32


Revenue Account of Modified Endowment Policy for the F. Y. 2069/070

Income

Net Premium




Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax







1,470,873,186

3,164,179

304,448,201

31,244,583

16,149,749

851,000

- .

1,826,730,898

53,336,576

205,781,976

5,299,860

- .

14,708,732

- .

84,768,808

31,742,718

1,620,674

- .

397,259,344

1,429,471,554

- .

1,167,504,747

1,869,554

214,450,987

13,301,493

10,492,757

230,000

- .

1,407,849,539

35,187,370

177,198,995

5,228,248

- .

11,675,047

- .

100,740,029

10,776,306

851,000

- .

341,656,995

1,066,192,544

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9











S.B. MainakDirector


S.K. RoyChairman

33


cfly{s jif{ @)^(÷)&( sf] cfhLjg hLjg aLdfsf] cfo Joo lx;fa



125,088,782

503,973

15,613,809

1,348,647

758,035

- .

- .

143,313,246143,313,246143,313,246143,313,246143,313,246

3,112,572

24,480,091

1,877,550

- .

1,250,888

- .

6,665,666

1,292,968

- .

- .

38,679,73538,679,73538,679,73538,679,73538,679,735

104,633,511104,633,511104,633,511104,633,511104,633,511

- .

46,707,189

94,085

7,830,448

460,470

456,227

- .

- .

55,548,41955,548,41955,548,41955,548,41955,548,419

536,574

6,843,514

411,118

- .

467,072

- .

4,045,643

358,683

- .

- .

12,662,60412,662,60412,662,60412,662,60412,662,604

42,885,81542,885,81542,885,81542,885,81542,885,815

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9





czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



34


Revenue Account of Whole Life Policy for the F. Y. 2069/070

Income

Net Premium




Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax







125,088,782

503,973

15,613,809

1,348,647

758,035

- .

- .

143,313,246

3,112,572

24,480,091

1,877,550

- .

1,250,888

- .

6,665,666

1,292,968

- .

- .

38,679,735

104,633,511

- .

46,707,189

94,085

7,830,448

460,470

456,227

- .

- .

55,548,419

536,574

6,843,514

411,117

- .

467,072

- .

4,045,643

358,683

- .

- .

12,662,604

42,885,815

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9











S.B. MainakDirector


S.K. RoyChairman

35


nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^(÷)&) sf] DofbL hLjg aLdfsf] cfo Joo lx;fa


cfoaLdfz'Ns -v'b_k'gjL{df sldzg cfonufgL, shf{ tyf cGoaf6 cfoaLdfn]vsf] lwtf]df shf{af6 cfocGo k|ToIf cfocfly{s jif{sf] z'?sf] e'QmfgL x'g af“sL bfjL jfkt Joj:yfcfly{s jif{sf] z'?sf] c;dfKt hf]lvd jfkt Joj:yfhDdf cfo -s_JoobfjL e'QmfgL -v'b_clestf{ sldzg:jf:Yo k/LIf0f z'Nsk'gaL{df sldzg vr{;]jf z'Ns -v'b_cGo k|ToIf vr{Joj:yfkg vr{cfos/cfly{s jif{sf] cGTodf e'QmfgL x'g af“sL bfjL jfkt Joj:yfcfly{s jif{sf] cGTodf c;dfKt hf]lvd jfkt Joj:yfhDdf Joo -v_hLjg aLdf sf]ifdf ;f/]sf] artgfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_


10,426,949

45,844

1,610,017

- .

29,803

- .

- .

12,112,61312,112,61312,112,61312,112,61312,112,613

250,000

1,528,780

245,621

- .

104,269

- .

592,191

147,071

- .

- .

2,867,9322,867,9322,867,9322,867,9322,867,932

9,244,681 9,244,681 9,244,681 9,244,681 9,244,681

- .

7,516,438

31,167

885,077

- .

19,635

- .

- .

8,452,3178,452,3178,452,3178,452,3178,452,317

1,092,857

1,282,398

226,520

- .

75,164

- .

636,812

23,528

- .

- .

3,337,2793,337,2793,337,2793,337,2793,337,279

5,115,0385,115,0385,115,0385,115,0385,115,038

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



36


Revenue Account of Term Policy for the F.Y. 2069/070 (2012/13)

Income

Net Premium




Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax






10,426,949

45,844

1,610,017

- .

29,803

- .

- .

12,112,613

250,000

1,528,780

245,621

- .

104,269

- .

592,191

147,071

- .

- .

2,867,932

9,244,681

- .

7,516,438

31,167

885,077

- .

19,635

- .

- .

8,452,317

1,092,857

1,282,398

226,520

- .

75,164

- .

636,812

23,528

- .

- .

3,337,279

5,115,038

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9












S.B. MainakDirector


S.K. RoyChairman

37


nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^(÷)&) sf] ljif]z DofbL hLjg aLdfsf] cfo Joo lx;fa



2,009,217

4,398

820,633

- .

30,052

- .

- .

2 ,864,3002,864,3002,864,3002,864,3002,864,300

- .

219,290

8,031

- .

20,092

- .

123,320

100,759

- .

- .

471,492471,492471,492471,492471,492

2,392,8082,392,8082,392,8082,392,8082,392,808

- .

1,942,866

2,640

489,356

- .

25,048

- .

- .

2,459,9102,459,9102,459,9102,459,9102,459,910

- .

269,909

14,820

- .

19,429

- .

175,232

29,769

- .

- .

509,159509,159509,159509,159509,159

1,950,7511,950,7511,950,7511,950,7511,950,751

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9





czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



38


Revenue Account of Special Term Policy for the F. Y. 2069/070

Income

Net Premium




Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax







2,009,217

4,398

820,633

- .

30,052

- .

- .

2,864,300

- .

219,290

8,031

- .

20,092

- .

123,320

100,759

- .

- .

471,492

2,392,808

- .

1,942,866

2,640

489,356

- .

25,047

- .

- .

2,459,910

- .

269,909

14,820

- .

19,429

- .

175,232

29,769

- .

- .

509,159

1,950,751

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9











S.B. MainakDirector


S.K. RoyChairman

39


nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=cfly{s jif{ @)^(÷)&) sf] cGo hLjg aLdf -Psn aLdfz'Ns_ sf] cfo Joo lx;fa



13,641,677

- .

2,604,770

145,206

91,687

- .

- .

16,483,34016,483,34016,483,34016,483,34016,483,340

773,806

268,593

11,749

- .

136,417

- .

890,157

247,754

- .

- .

2,328,4762,328,4762,328,4762,328,4762,328,476

14,154,86414,154,86414,154,86414,154,86414,154,864

- .

7,447,310

- .

1,532,824

61,631

2,673

- .

- .

9,044,4379,044,4379,044,4379,044,4379,044,437

- .

149,003

9,700

- .

74,473

- .

739,711

75,163

- .

- .

1,048,0501,048,0501,048,0501,048,0501,048,050

7,996,3887,996,3887,996,3887,996,3887,996,388

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9





czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



40


Revenue Account of Other Policy (Single Premium) for the F. Y. 2069/070

Income

Net Premium




Other Direct Income



Total Income (A)

Expenditure

Claim Payment (Net)

Agent Commisions

Medical Fees




Management Expenses

Income Tax







13,641,677

- .

2,604,770

145,206

91,687

- .

- .

16,483,340

773,806

268,593

11,749

- .

136,417

- .

890,157

247,754

- .

- .

2,328,476

14,154,864

- .

7,447,310

- .

1,532,824

61,631

2,673

- .

- .

9,044,437

- .

149,003

9,700

- .

74,473

- .

739,711

75,163

- .

- .

1,048,050

7,996,388

- .

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

1

2

3

4

5

6

7

8

9











S.B. MainakDirector


S.K. RoyChairman

41


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

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

3,168,604,126

- .- .

4,287,502

37,013,304

5,929,271

(20,776,218)

- .(426,565,560)

(10,799,790)

(57,501,418)

(60,884,358)

(83,368,088)

(132,632,380)

(1,432,084)

(25,195,866)

(1,313,108)

(161,770,048)

(16,689,865)

(127,365,117)

(7,414,374)

109,938,990

2,192,064,9182,192,064,9182,192,064,9182,192,064,9182,192,064,918

(11,139,379)

81,375,000

(2,127,500,000)

(309,183,826)

(122,091,780)

(122,930,000)

- .(465,614,663)

(76,511,676)

837,395,407

1,964,020

- .66,423,599

2,916,646

(2,244,896,652)(2 ,244,896,652)(2 ,244,896,652)(2 ,244,896,652)(2 ,244,896,652)

- .- .

174,095,664

(36,233,036)

(8,157,895)

129 ,704,733129 ,704,733129 ,704,733129 ,704,733129 ,704,733

76 ,872 ,99976 ,872 ,99976 ,872 ,99976 ,872 ,99976 ,872 ,999

211 ,914,888211 ,914,888211 ,914,888211 ,914,888211 ,914,888

288,787 ,886288,787 ,886288,787 ,886288,787 ,886288,787 ,886

2,537,646,938

- .- .

2,347,177

26,766,753

2,800,203

(9,926,565)

- .(273,904,482)

(7,316,615)

(42,986,443)

(44,365,159)

(73,100,697)

(72,608,362)

(1,474,943)

(18,756,221)

(50,000)

(224,851,595)

- .(106,783,213)

(49,555,329)

47,960,759

1 ,691 ,842,2071 ,691 ,842,2071 ,691 ,842,2071 ,691 ,842,2071 ,691 ,842,207

(195,429,164)

(334,817,000)

(1,035,000,000)

(56,953,220)

(3,708,370)

(389,765,230)

(5,407,596)

(315,564,501)

(50,254,419)

695,373,394

2,245,042

- .37,174,940

331,439

(1 , 651 ,774 ,685)( 1 , 651 ,774 ,685)( 1 , 651 ,774 ,685)( 1 , 651 ,774 ,685)( 1 , 651 ,774 ,685)

- .- .

56,080,395

(15,494,404)

- .40,585 ,99140,585 ,99140,585 ,99140,585 ,99140,585 ,991

80 ,653 ,51280 ,653 ,51280 ,653 ,51280 ,653 ,51280 ,653 ,512

131 , 261 , 375131 , 261 , 375131 , 261 , 375131 , 261 , 375131 , 261 , 375

211 ,914 ,888211 ,914 ,888211 ,914 ,888211 ,914 ,888211 ,914 ,888

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'QmfgLcGo k|ToIf vr{Joj:yfkg vr{ e'QmfgLsd{rf/L af]g; 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 ljlQo ;+:yfsf] d'2tL lgIf]kdf nufgLdf -j[l4_÷sdLa}+s tyf ljlQo ;+: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_e'QmfgL k|fKt l8le8]G8ef8f cfDbfgLe'QmfgL k|fKt Aofh cfDbfgL -shf{df_cGo ck|ToIf cfDbfgL÷vr{nufgL ultljwLaf6 v"b gub k|jfx -v_ljlQo >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'QmfgLljlQo >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

s_

v_

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42


Cash Flow Statement for the Period of 16th July 2012 to 15th July 2013


A Cash flow from operating activities:Premium IncomeLate fee IncomeRe-Insurance IncomeRe-Insurance Commission IncomeOther Direct IncomeClaimed recovery from Re-InsurerRe-Insurance Premium PaidRe-Insurance commission payment

Agent commission paymentMedical examination fee paymentDeath claim paymentMaturity claim paymentPartial-maturity claim paymentSurrender value claim paymentOther claim paymentService fee paymentOther Direct ExpensesManagement expenditure paymentBonus Paid to EmployeesIncome Tax Paid

(Increase)/decrese in current assets(Increase)/decrese in current liabilitiesNet Cash Flow from Operaing activities (A)

B Cash flow from Investing Activities:(Increase) Decrease in fixed assets(Increase) Decrease in investment in government guaranteed securities.(Increase) Decrease in investment in fixed deposit of bank and financial institution(Increase) Decrease in investment in other deposit of bank and financial institutionIncrease/Decrease in Equtity Share Investments(Increase) Decrease in investment in preference share/debenture(Increase) Decrease in other investment (Premium on Investment)(Increase) Decrease in loans against insurance policy

(Increase) Decrease in other loans and advancesInterest Income from InvestmentDividend ReceivedRental incomeInterest on Policy LoanOthers Indirect IncomeNet Cash Flow from Investing Activities (B)

C Cash flow from Financing ActivitiesAmount received from Shares(Increase) Decrease in o/s debtIncrease/Decrease in short term debtInterest Paid on Loan and Debt

Dividend paidNet cash flow from Financing Activities (C)Net cash flow from overall activities of this year = (A + B + C)Opening Balance of Cash & Bank BalanceClosing Balance of Cash & Bank Balance

3,168,604,126- .- .

4,287,50237,013,3045,929,271

(20,776,218)- .

(426,565,560)(10,799,790)(57,501,418)(60,884,358)(83,368,088)

(132,632,380)

(1,432,084)(25,195,866)(1,313,108)

(161,770,048)(16,689,865)

(127,365,117)(7,414,374)

109,938,9902,192,064,918

(11,139,379)81,375,000

(2,127,500,000)(309,183,826)(122,091,780)(122,930,000)

- .(465,614,663)

(76,511,676)837,395,407

1,964,020- .

66,423,5992,916,646

(2,244,896,652)

- .- .

174,095,664(36,233,036)(8,157,895)

129,704,73376,872,999

211,914,888288,787,886

2,537,646,938- .- .

2,347,17726,766,7532,800,203

(9,926,565)- .

(273,904,482)(7,316,615)

(42,986,443)(44,365,159)(73,100,697)(72,608,362)

(1,474,943)(18,756,221)

(50,000)(224,851,595)

- .(106,783,213)(49,555,329)

47,960,7591,691,842,207

(195,429,164)(334,817,000)

(1,035,000,000)(56,953,220)(3,708,370)

(389,765,230)(5,407,596)

(315,564,501)(50,254,419)695,373,394

2,245,042- .

37,174,940331,439

(1,651,774,685)

- .- .

56,080,395(15,494,404)

- .40,585,99180,653,512

131,261,375211,914,888










S.B. MainakDirector


S.K. RoyChairman

43


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"6Ld

f ePs

f] kl/

jt{g

;Da

GwL l

jj/0

f

ljj/

0fz]o/

k"“hL

;+lr

t

gfkmf÷

gf]S;

fg

k|:tfljt

af]g;

z]o/

k"“hLut

hu]8

f sf]if

z]o/

lk|ld

od

ljz]if

hu]8

f

sf]if

cGo

hu]8

f

tyf sf]if

dxflj

kQL

hu]8

fs"n /

sd

250,0

00,0

00

-

.

-

.

-

.

155,0

00,0

00

-

.

405,0

00,0

00

405,0

00,0

00

405,0

00,0

00

405,0

00,0

00

405,0

00,0

00

z'?

df}Hb

ft;d

fof]h

gjif{s

f] v'b

gf]S;

fghLjg

aLdf

sf]ifdf

;f/]sf]

k|:tfljt

nfe

f+;hf/L eP

sf] af

]g; z

]o/:y

ug s

/ hu]8

f

clGt

d df

}Hbft

155,0

00,0

00

-

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-

.

151,875,0

00

(15

5,000,000)

-

.

151,8

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0 1

51,8

75,0

0 1

51,8

75,0

0 1

51,8

75,0

0 1

51,8

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0

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.

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.

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.

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.

-

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.

-

.

-

.

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.

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.

-

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-

.

-

.

-

.

-

.

-

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-

.

-

.

-

.

-

.

-

.

-

.

-

.

-

.

3,5

76,1

78

277,3

46,2

16

(431,9

71)

(15

9,8

68,4

21)

-

.

(3

,619,6

96)

117,0

02,3

06

117,0

02,3

06

117,0

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06

117,0

02,3

06

117,0

02,3

06

408,5

76,1

78

277,3

46,2

16

(4

31,9

71)

(7,9

93,4

21)

-

.

(3

,619,6

96)

673,8

77,3

06

673,8

77,3

06

673,8

77,3

06

673,8

77,3

06

673,8

77,3

06

-

.

-

.

-

.

-

.

-

.

-

.

-

.

nfO

km OG

:of]/

]G; s

kf]{/

]zg -g]kfn

_ ln

=c

f= j=

@)

^(÷)

&)

df O

So

"6Ld

f ePs

f] kl/

jt{g

;Da

GwL l

jj/0

f

ljj/

0fz]o/

k"“hL

;+lr

t

gfkmf÷

gf]S;

fg

k|:tfljt

af]g;

z]o/

k"“hLut

hu]8

f sf]if

z]o/

lk|ld

od

ljz]if

hu]8

f

sf]if

cGo

hu]8

f

tyf sf]if

dxflj

kQL

hu]8

fs"n /

sd

250,0

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00

-

.

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-

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250

,00

0,0

00

250

,00

0,0

00

250

,00

0,0

00

250

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0,0

00

250

,00

0,0

00

z'?

df}Hb

ft;d

fof]h

gjif{s

f] v'b

gf]S;

fghLjg

aLdf

sf]ifdf

;f/]sf]

k|:tfljt

nfe

f+;hf/L eP

sf] af

]g; z

]o/:y

ug s

/ hu]8

f

clGt

d df

}Hbft

-

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-

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-

.

155,0

00,0

00

-

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-

.

155,0

00,0

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155,0

00,0

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155,0

00,0

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155,0

00,0

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155,0

00,0

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-

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-

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171,7

74,4

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-

.

(163,157,8

95)

-

.

-

.

3,5

76,1

78

3,5

76,1

78

3,5

76,1

78

3,5

76,1

78

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59,6

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408

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78

408

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78

-

.

-

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-

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-

.

-

.

-

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-

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44


Lif

e I

nsura

nce C

orp

ora

tion (

Nepal)

Ltd

.

De

tails

of C

ha

ng

es

in E

qu

ity

fo

r th

e F

. Y

. 2069/0

70

To

tal

Am

ou

nt

25

0,0

00

,00

0

-

.

-

.

-

.

15

5,0

00

,00

0

-

.

40

5,0

00

,00

0

Op

en

ing

Ba

lan

ce

Ad

justm

en

t:

Ne

t p

rofit

Fo

r th

e Y

ea

r

Tra

nsfe

rre

d T

o L

ife

Fu

nd

Pro

po

se

d D

ivid

en

d

Issu

ed

Bo

nu

s S

ha

re

De

ferr

ed

Ta

x R

ese

rve

Clo

sin

g B

ala

nce

15

5,0

00

,00

0

-

.

-

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1,8

75

,00

0

(155,0

00,0

00)

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-

.

-

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-

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-

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-

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.

3,5

76

,17

8

27

7,3

46

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6

(43

1,9

71

)

(159,8

68,4

21)

-

.

(3,6

19

,69

6)

11

7,0

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,30

6

40

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76

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8

27

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6

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1,9

71

)

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1)

-

.

(3,6

19

,69

6)

67

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77

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rtic

ula

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ha

reC

ap

ital

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arn

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po

se

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on

us

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are

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se

rve

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are

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miu

m

-

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-

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-

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-

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-

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-

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.

Sp

ecia

lR

es

erv

e

-

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Lif

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nsura

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orp

ora

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Nepal)

Ltd

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tails

of C

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in E

qu

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r th

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tal

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25

0,0

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0,0

00

,00

0

Op

en

ing

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lan

ce

Ad

justm

en

t:

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t p

rofit

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r th

e Y

ea

r

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nsfe

rre

d T

o L

ife

Fu

nd

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po

se

d D

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en

d

Issu

ed

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nu

s S

ha

re

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ferr

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x R

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rve

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sin

g B

ala

nce

-

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5,0

00

,00

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5,0

00

,00

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1,7

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3,1

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5)

-

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.

3,5

76

,17

8

24

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59

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17

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8,5

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As

per

our

repo

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CA

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Lal

Pri

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Fo

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Ass

oci

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s

Cha

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ccou

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in K

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Sr.

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45

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g';

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!

o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

qm=;

+=aLdf

sf] ls

l;d

s"n a

Ldfz

'NsaLdf

z'Ns

-v"b_

k'gaL{df

z'Ns

e'Qmfg

L (C

ed

ed

)

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clu|d

e'QmfgL ;

fjlws

?kfGt

l/t

;fjlws

cfhLjg

DofbL

ljz]if Do

fbL

cGo

hLjg

aLdf -Psn

aLdfz'Ns

_

hDdf

1 2 3 4 5 6 7

-s_ aLdf

z'Ns

-v'b_

o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

qm=;

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sf] ls

l;d

k|ToI

f aLdf

z'Ns

s"n a

Ldfz

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'gaL{d

f z'Ns

(A

cc

ep

ted

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e'QmfgL ;

fjlws

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hLjg

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-v_ s"n a

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o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

o; j

if{ut

jif{

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l;d

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jif{s

f] aLdf

z'Ns

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Ldfz

'Nsgj

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98

7,8

50,8

67

54

4,4

59,6

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10,6

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3,1

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4,1

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78

9,0

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508

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1,1

75,4

35,0

22

47,1

33,0

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7,7

86,0

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7,4

50,1

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2,5

37,6

46,9

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2,5

37,6

46,9

38

2,5

37,6

46,9

38

2,5

37,6

46,9

38

2,5

37,6

46,9

38

3,3

25,7

36

4

80,8

13

1

2,6

24

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1,3

23,3

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236,4

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69,1

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96

1

8,0

60,3

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1

8,0

60,3

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1

8,0

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60,3

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1

8,0

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2,6

82,9

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668

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7,9

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7,4

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2,5

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2,5

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2,5

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2,5

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2,5

25

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7,2

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98

7,8

50,8

67

54

4,4

59,6

36

1,4

83,4

97,6

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126,4

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10,6

63,4

43

2,0

78

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13,6

41,9

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3,1

68

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4,1

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3,1

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26

3,1

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4,1

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3,1

68

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26

3,1

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78

9,0

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508

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47,1

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86,0

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2,5

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46,9

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2,5

37,6

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2,5

37,6

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2,5

37,6

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2,5

37,6

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-

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-

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-

.

-

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-

.

-

.

-

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-

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-

.

-

.

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987,8

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2,5

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46,9

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2,5

37,6

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2,5

37,6

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2,5

37,6

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2,5

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276,0

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13,6

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7,4

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

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48


Income from Investment, Loans and Other SourcesSchedule - 2Schedule - 2Schedule - 2Schedule - 2Schedule - 2


1 Income from Government Securities & Securities Guaranteed by Govt.

2 Income from fixed deposit of Commercial Banks

3 Income from fixed deposit of Development Banks

4 Income from Investment in CIT

5 Income from fixed deposit of Finance Company

6 Dividend income from the ordinary shares of Housing Finance Company

7 Dividend income from ordinary shares of other Public Company

8 Dividend income from preference share of bank and Financial Institution

9 Income from debenture of Bank and Financial Institution

10 Income from Others (Advances)

11 Income from Loan

12 Income from Other Deposit (Except Fixed)

13 Profit on sale of Investment

Less: Loss on sale of Investment

14 Profit on purchase of Investment

Less: Loss on purchase of Investment

15 Profit on sale of Fixed Assets

Less: Loss on sale of Fixed Assets

16 Written Off/Amortized

17 Incomes related to Previous Year’s

18 Other Income (Share Transaction)

19 Other Miscellaneous Income

20 Interest on Gratuity Fund

21 Income from Insurance Pool

Total

Appopriation of income from investment, loan and others

Transferred to profit and loss account

Transferred to Reveue Account of Endowment

Transferred to Revenue Account of Anticipated Endowment

Transferred to Revenue Account of Modified Endowment

Transferred to Revenue Account of Whole Life Policy

Transferred to Revenue Account of Term Insurance Policy

Transferred to Revenue Account of Special Term Insurance Policy

Transferred to Revenue Account of Other Insurance Policy

Total

174,930,042

460,145,057

30,152,364

1,440,000

24,715,079

- .

2,239,855

5,187

13,655,890

5,701,267

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146,474,348

214,450,987

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489,356

1,532,824

706,515,681

31,703,657

398,951,977

181,304,515

304,448,201

15,613,809

1,610,017

820,633

2,604,770

937,057,579










S.B. MainakDirector


S.K. RoyChairman

49


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92

136,4

17

31,5

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55,9

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55,9

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52


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53

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgcg';"rL – &

Joj:yfkg vr{


1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

41,778,871

11,152,095

1,853,345

410,146

521,653

640,237

- .

2,399,726

9,678,376

248,455

2,678,067

2,815,261

175,380

7,673,732

52,839,859

746,020

356,175

85,000

155,476

4,169,471

- .

240,000

585,000

150,000

1,448,990

30,000

195,891

957,437

- .

- .

158,200

48,025

50,850

16,950

339,000

297,502

36,233,036

90,216

4,254,118

7,294,349

789,019

1,307,869

340,765

2,564,622

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 z'Ns-r_ cGo vr{Aofha}s b:t"/z'Ns tyf b:t"/x|f; s§Lx'nfs l6s6cGosd{rf/L tfhuL vr{sfof{no ;/–;kmfO{ vr{;ef–;Dd]ng vr{ -k|zf;g_

qmdzM k]h g+= %%

36,420,640

9,150,792

1,601,399

318,536

324,279

780,876

- .

1,743,563

5,838,648

216,393

2,015,633

1,083,230

56,298

111,674

145,543,163

525,862

807,695

64,025

60,509

5,928,248

- .

205,000

- .

298,000

1,346,176

95,000

129,790

527,665

- .

- .

141,250

48,025

50,850

- .

310,750

91,938

15,494,404

119,244

4,254,118

5,860,261

634,501

678,455

278,127

43,177

54

CIL 12th ANNUAL REPORT12th ANNUAL REPORTSchedule - 7Schedule - 7Schedule - 7Schedule - 7Schedule - 7

Management Expenditure


1 Employee Expenses (Anx 7.1)

2 Building Rent

3 Water & Electricity

4 Repair & Maintenance

A) Building

B) Vehicle

C) Office Equipment

D) Others

5 Communication

6 Printing and Stationery

7 Non Capital Office Items

8 Transportation

9 Travelling Expenses (Including Allowance)

A) Internal

B) International

10 Agent Trainning

11 Other Agents Expenses

12 Insurance premium

13 Security Expenses

14 Legal and Consultancy Fees

15 Books & Periodicals

16 Advertigement and Publicity

17 Business Promotion

18 Entertainment Expenses

19 Donation and Awards

20 Board Committee Expenses

A) Meeting Allowance

B) Others

21 Other Committee/Sub Committee Expenses

A) Meeting Allowance

B) Others

22 Expenses relating General Meeting

23 A) Acturial Service Fee

B) Acturial Expenses

24 Audit Expenses

A) Audit Fee

B) Tax Audit Fee

C) Long Form Audit Fee

D) Other Fee

E) Internal Audit Fee

F) Others Expenses

25 Interest

26 Bank charges

27 Fee and charges

28 Depreciation

29 Stamps

30 Other

Staff Refereshment Expenses

Office Upkeep and Cleaning Expenses

Conferrence Expenses (Admin)

Contd. Page No. 56

41,778,871

11,152,095

1,853,345

410,146

521,653

640,237

- .

2,399,726

9,678,376

248,455

2,678,067

2,815,261

175,380

7,673,732

52,839,859

746,020

356,175

85,000

155,476

4,169,471

- .

240,000

585,000

150,000

1,448,990

30,000

195,891

957,437

- .- .

158,200

48,025

50,850

16,950

339,000

297,502

36,233,036

90,216

4,254,118

7,294,349

789,019

1,307,869

340,765

2,564,622

36,420,640

9,150,792

1,601,399

318,536

324,279

780,876

- .

1,743,563

5,838,648

216,393

2,015,633

1,083,230

56,298

111,674

145,543,163

525,862

807,695

64,025

60,509

5,928,248

- .

205,000

- .

298,000

1,346,176

95,000

129,790

527,665

- .

- .

141,250

48,025

50,850

- .

310,750

91,938

15,494,404

119,244

4,254,118

5,860,261

634,501

678,455

278,127

43,177

55


cg';"rL – &=!sd{rf/L vr{

cg';"rL – &


1,741,836

197,403

50,000

3,154,508

11,880

248,353,821248,353,821248,353,821248,353,821248,353,821

24,835,382

71,238,317

45,942,694

100,740,029

4,045,643

636,812

175,232

739,711

248,353,821248,353,821248,353,821248,353,821248,353,821

cGo ljljw vr{;]jf / b:t'/ -;jf/L ;fwg_Ohfhtkq gjLs/0f z'Ns -aLdf ;ldlt_g]6jls{ª vr{gu/kflnsf s/

af“8 kmf“8sf] nflu hDdf

gfkmf gf]S;fg lx;fadf ;f/]sf];fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]cfhLjg hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] -Psn aLdfz'Ns_

hDdf


tnaeQfbz}+ vr{;~rosf]ifdf yktflnd vr{kf]zfscf}ifwf]krf/aLdfk]G;g tyf pkbfg vr{ tyf Joj:yfljbf afktsf] vr{ tyf Joj:yfcGo ;'ljwf afkt vr{ tyf Joj:yfcGos_ z}lIfs vr{v_ ahf/ clwsf/Lx?nfO{ k|f]T;fxg /sdu_ gof“ sd{rf/L egf{ vr{3_ sd{rf/L ;'ljwf -ljljw_ª_ sd{rf/L ;?jf vr{r_ Hofnf

hDdf

1

2

3

4

5

6

7

8

9

10

11

12

3,358,417

302,254

50,000

5,050,220

23,580

206,553 ,655206,553 ,655206,553 ,655206,553 ,655206,553 ,655

22,556,768

57,976,717

32,980,028

84,768,808

6,665,666

592,191

123,320

890,157

206,553 ,655206,553 ,655206,553 ,655206,553 ,655206,553 ,655

21,108,581

11,728,640

2,378,489

1,978,835

41,588

- .

394,692

308,335

944,920

947,908

- .

384,090

311,500

- .

- .

226,726

1,024,567

41,778,87141,778,87141,778,87141,778,87141,778,871

17,301,993

9,203,129

1,638,797

1,637,236

8,000

- .

342,243

- .

1,823,979

2,498,639

- .

379,441

1,044,578

- .

- .

542,605

- .

36,420,64036,420,64036,420,64036,420,64036,420,640




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



56

CIL 12th ANNUAL REPORT12th ANNUAL REPORTSchedule - 7 Contd.Schedule - 7 Contd.Schedule - 7 Contd.Schedule - 7 Contd.Schedule - 7 Contd.

Schedule - 7.1Schedule - 7.1Schedule - 7.1Schedule - 7.1Schedule - 7.1

Employee Expenses


Other Miscellaneous ExpensesRates & Taxes (Vehicles)Licience Renewal Fee (Beema Samiti)Networking ExpensesMucipality Tax

Total

Total for Distribution

Transferred to Profit and Loss Account







Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium)

Total


1 Salaries

2 Allowances

3 Dashain Expenses

4 Company Contribution Providend Fund

5 Training Expenses

6 Dress Allowance

7 Medical Expenses

8 Insurance

9 Provision on Pension and Gratuity

10 Expenses & Provision for Leave Encashment

11 Provision for Other Facilities

12 Other

A) Education Expenses

B) Incentive to Marketing Officials

C) Recruiting Expenses

D) Employee Benefit Misc.

E) Relocation Expenses

F) Wages

Total

1,741,836197,403

50,0003,154,508

11,880

248,353,821

24,835,382

71,238,317

45,942,694

100,740,029

4,045,643

636,812

175,232

739,711

248,353,821

3,358,417302,254

50,0005,050,220

23,580

206,553,655

22,556,768

57,976,717

32,980,028

84,768,808

6,665,666

592,191

123,320

890,157

206,553,655

21,108,581

11,728,640

2,378,489

1,978,835

41,588

- .

394,692

308,335

944,920

947,908

- .

384,090

311,500

- .

- .

226,726

1,024,567

41,778,871

17,301,993

9,203,129

1,638,797

1,637,236

8,000

- .

342,243

- .

1,823,979

2,498,639

- .

379,442

1,044,578

- .

- .

542,605

- .

36,420,640










S.B. MainakDirector


S.K. RoyChairman

57

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgcg';"rL – *

cfos/


1. o; jif{sf] cfos/

af“8kmf“8sf] nflu cfos/sf] hDdf

af“8kmf“8

gfkmf gf]S;fg lx;fadf ;f/]sf]

;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]

clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]

?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]

cfhLjg hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]

DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]

ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf]

cGo hLjg aLdfsf] cfo Aoo lx;fadf ;f/]sf] -Psn aLdfz'Ns_

hDdf

105,554,644

105,554,644105,554,644105,554,644105,554,644105,554,644

1,321,686

49,269,444

21,432,244

31,742,718

1,292,968

147,071

100,759

247,754

105,554,644105,554,644105,554,644105,554,644105,554,644

44,165,402

44,165,40244,165,40244,165,40244,165,40244,165,402

- .

23,374,640

9,527,313

10,776,306

358,683

23,528

29,769

75,163

44,165,40244,165,40244,165,40244,165,40244,165,402




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



58


Income Tax

Schedule - 8Schedule - 8Schedule - 8Schedule - 8Schedule - 8


1 Income Tax of Current Year

Total Income Tax For Appropriation

Appropriation

Transferred to Profit and Loss Account







Transferred to Revenue Account of Other Life Insurance Policy (End. Sing. Premium)

Total

105,554,644

105,554,644

1,321,686

49,269,444

21,432,244

31,742,718

1,292,968

147,071

100,759

247,754

105,554,644

44,165,402

44,165,402

- .

23,374,640

9,527,313

10,776,306

358,683

23,528

29,769

75,163

44,165,402










S.B. MainakDirector


S.K. RoyChairman

59


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62


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63

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64



1 Provision For Loss on Investment Written Back 11,905,626. 134,479

2 Provision For Loss on Loan Written Back - . -

3 Provision For Doubtful Debt Written Back - . -

4 Other Provision Written Back - . -

TOTAL 11,905,626 134,479


Provision Written Back


1 Preliminary Expenses - . -

2 Pre-operating Expenses - . -

3 Deferred Expenses - . -

4 Investment Written Off - . -

5 Loan Written Off 35,484 . 1,608

6 Debtors Written Off - . -

7 Other Written Off - . -

Total 35,484 . 1,608


Written Off Expenditure


1 Share Issuing Expenses 691,358 - .

2 Share Registration Expenses 145,500 - .

3 Share Listing Expenses 476,250 50,000

4 Dividend Distribution Expenses - . - .

5 Other Expenses (Share Related) - . - .

Total 1,313,108 50,000

Schedule - 13 (A)Schedule - 13 (A)Schedule - 13 (A)Schedule - 13 (A)Schedule - 13 (A)

Expenses Related to Shares










S.B. MainakDirector


S.K. RoyChairman

65


cg';"rL – !^-s_ z]o/ k"“hL


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506,250,000 250,000,000

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405,000,000 250,000,000

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405,000,000 250,000,000

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405,000,000405,000,000405,000,000405,000,000405,000,000 250,000,000250,000,000250,000,000250,000,000250,000,000

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66


Other Expenditures


1 Authorised Capital

A) 506,250,000 Equity Shares worth Rs. 100/- Each 506,250,000 250,000,000

B) …………. Non Reedeemable Preferred worth Rs. …. Each - . - .

C) …………. Reedeemable Preferred worth Rs. …. Each - . - .

2 Isssued Capital


B) …………. Non Reedeemable Preferred worth Rs. …. Each - . - .


3 Paid up Capital


Less: Receivable Paid up ….. Shares worth ….

B) …………. Non Reed eemable Preferred worth Rs. …. Each - . - .


Total 405,000,000 250,000,000


1 Provision For loss on Investment - -

2 Provision For loss on loan - -

3 Provision For Doubtful Debt - -

4 Other Provision - -

Total - -


1 Fine & Penalties - -

2 Late Fee & Fine - -

3 Other - -

Total - -


Provision for Losses


(A) Share Capital










S.B. MainakDirector


S.K. RoyChairman

67


g]kfnL ;+ul7t ;+:yfx? 1,012,500 25% 625,000 25%

g]kfnL gful/s - .= - . - .= - .

ljb]zL 2,227,500 55% 1,375,000 55%

hDdf 3,240,000 80% 2,000,000 80%

;j{;fwf/0f 810,000 20% 500,000 20%

cGo

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1 :yug s/ hu]8 3,619,696 - .

2 k"“hLut hu]8f - . - .

3 ljz]if hu]8f - . - .

4 cGo hu]8f - . - .

5 z]o/ lk|ldod - . - .

6 k|:tfljt af]gz z]o/ 151,875,000 155,000,000

7 k"“hLs[t x'g af“sL af]g; z]o/ - . - .

8 gfkmf gf]S;fg lx;faaf6 ;f/]sf] gfkmf 117,002,306 3,576,178

hDdf 272,497,002272,497,002272,497,002272,497,002272,497,002 158,576,178158,576,178158,576,178158,576,178158,576,178

1 ef/tLo hLjg aLdf lgud 55% 222,750,000 55% 137,500,000

2 lazfn u|'k 25% 101,250,000 25% 62,500,000

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68



1 Deferred Tax Reserve 3,619,696 - ..

2 Capital reserve - . - ..

3 Special reserve - . - ..

4 Other reserve (Details) - . - ..

5 Share premium - . - ..

6 Proposed Bonus Share 151,875,000 155,000,000

7 Uncapitalized Bonus Share - . - ..

8 Profit transferred from Profit and Loss A/c 117,002,306 3,576,178

Total 272,497,002 158,576,178


Reserve and Surplus

1 Life Insurance Corporation of India 55% 222,750,000 55% 137,500,000

2 Vishal Group (Nepal) 25% 101,250,000 25% 62,500,000

ParticularCurrent Year Previous Year

% of ownershipS.N.

Amount % of ownership Amount

C. Details having one or more than one percentage of Shares


B. Ownership Structure of Share

Promotor

Nepali Organised institution 1,012,500 25% 625,000 25%

Nepalese citizen - . - . -aaa -aa

Foreigner 2,227,500 55% 1,375,000 55%

Total 3,240,000 80% 2,000,000 80%

General public 810,000 20% 500,000 20%

Other

Total 4,050,000 100% 2,500,000 100%

Share HolderCurrent Year Previous Year

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










S.B. MainakDirector


S.K. RoyChairman

69

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S.B. MainakDirector


S.K. RoyChairman

71


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72


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125,617,364

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7,186,397,3647,186,397,3647,186,397,3647,186,397,3647,186,397,364

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17,143,680

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- .

193,500,000

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- .

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10,703,688,97010,703,688,97010,703,688,97010,703,688,97010,703,688,970

74



(A) Long term investment:

1. Government Securities & Securities Guranteed by Government

2. Fixed Deposit at Commercial Bank

3. Fixed Deposit at Development Bank

4. Plans of Citizen Investment Trust

5. Fixed Deposit at Financial Institutuion

6. Equity Share of Housing Finance Company

7. Equity Share of other Company

8. Preference Share/Debenture of Bank and Financial Institution

9. Other

Total (A)

(B) Short term investment:

1. Government Securities & Securities Guranteed by Government

2. Interest Bearing Deposit at Commercial Bank

3. Interest Bearing Deposit at Development Bank

4. Plans of Citizen Investment Trust

5. Interest Bearing Deposit of other Financial Institution

6. Preference Share/Debenture of Bank and Financial Institution

7. Other Interest Bearing Deposit at Commercial Bank

8. Other Interest Bearing Deposit at Development Bank

9. Other Interest Bearing Deposit at other Financial Institution

10. Other Interest Bearing Investments

Total (B)

Total (A+B)


(A) Investments










S.B. MainakDirector


S.K. RoyChairman

2,252,717,000

4,022,500,000

60,000,000

16,000,000

205,000,000

- .

125,617,364

504,563,000

- .

7,186,397,364

81,375,000

492,500,000

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78


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CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgcg';"rL – @@

gub tyf a}+s df}Hbft

11111 gub df}Hbft

hDdf

22222 a}+s df}Hbft

jfl0fHo a}+sx?sf] df}Hbft

ljsf; a}+sx?sf] df}Hbft

ljlQo ;+:yfx?sf] df}Hbft

cGo -ljj/0f v'nfpg]_

hDdfs"n hDdf


cg';"rL – @#cGo shf{


-s_ bL3{sflng shf{

1 clestf{nfO{ shf{

2 sd{rf/LnfO{ shf{

3 cGo -ljj/0f v'nfpg]_

hDdf -s_

-v_ cNksflng shf{

1 clestf{nfO{ shf{

2 sd{rf/LnfO{ shf{

3 cGo -ljj/0f v'nfpg]_

hDdf -v_

hDdf -s+v_

97,198,503

97,198,50397,198,50397,198,50397,198,50397,198,503

114,716,385

- .

- .

- .

114,716,385114,716,385114,716,385114,716,385114,716,385

211,914,888211,914,888211,914,888211,914,888211,914,888

132,817,659

132,817,659132,817,659132,817,659132,817,659132,817,659

155,970,227

- .

- .

- .

155,970,277155,970,277155,970,277155,970,277155,970,277

288,787,886288,787,886288,787,886288,787,886288,787,886

- .

13,657,297

- .

13,657,29713,657,29713,657,29713,657,29713,657,297

87,021,228

- .

- .

87,021,22887,021,22887,021,22887,021,22887,021,228

100,678,525100,678,525100,678,525100,678,525100,678,525

- .

16,562,670

- .

16 ,562,67016,562,67016,562,67016,562,67016,562,670

160,627,531

- .

- .

160,627,531160,627,531160,627,531160,627,531160,627,531

177,190,201177,190,201177,190,201177,190,201177,190,201




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



80



Other Loans


Cash and Bank Balance

S.N. Particular Current Year Previous Year

(A) Long Term Loans1 Loan to Agents

2 Loan to Employees

3 Others

Total (A)

(B) Short Term Loan1 Loan to Agents

2 Loan to Employees

3 Others

Total (B)

Total (A+B)


1 Cash Balance

Total (A)

2 Bank Balance

Deposit in Commercial Banks

Deposit in Development Banks

Deposit of Financial Institutions

Other

Total (B)

Total (A+B)

97,198,503

97,198,503

114,716,385

- .

- .

- .

114,716,385

211,914,888

132,817,659

132,817,659

155,970,227

- .

- .

- .

155,970,227

288,787,886

- .

13,657,297

- .

13,657,297

87,021,228

- .

- .

87,021,228

100,678,525










S.B. MainakDirector


S.K. RoyChairman

- .

16,562,670

- .

16,562,670

160,627,531

- .

- .

160,627,531

177,190,201

81

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgcg';"rL – @$

cGo ;DkQL

1 nufgLaf6 k|fKt x'g af“sL cfo2 aLdfn]vsf] lwtf]df shf{af6 k|fKt x'g af“sL Aofh3 cGo -aLdfn]vsf] lwtf]df afx]s_ shf{af6 k|fKt x'g af“sL Aofh4 cGo aLdsaf6 k|fKt x'g af“sL5 k'gaL{dsaf6 k|fKt x'g af“sL6 ljljw cf;fdL7 clu|d s/8 sd{rf/L k]ZsL9 cGo k]ZsL10 w/f}6L11 c;'n x'g af“sL aLdfz'Ns

Go"g M c;'n x'g af“sL aLdfz'Ns d'NtjL (suspense)

12 cGo Ms_ clu|d e'QmfgL cf+lzs kl/kSj bfjLv_ clu|d e'QmfgL vr{x?u_ z]o/÷l8j]Gr/ lgj]bg3_ pkbfg sf]if gful/s nufgL sf]ifdfª_ a}sdf r]s hdf ePsf] t/ q]ml86 k|fKt gePsf]r_ :yun s/

hDdf


201,046,713108,858,466

913,351- .

2,029,0654,663,845

421,350,165160,877

244,949231,000

- .- .- .- .

4,248,25840,500,2135,805,5928,311,2591,687,580

800,051,333800,051,333800,051,333800,051,333800,051,333

94,645,96765,504,765

- .- .- .- .

303,354,146114,183

955,989225,000

- .- .- .- .

2,614,06940,704,000

4,277,5357,860,843

- .

520,256,498520,256,498520,256,498520,256,498520,256,498

cg';"rL – @%rfn' bfloTj


1 clestf{nfO{ lbg af“sL2 cGo aLdsnfO{ lbg af“sL3 k'gaL{dsnfO{ lbg af“sL4 cNksflng shf{5 aLdfz'Ns w/f}6L6 k"0f{ ljj/0f gv'n]sf] aLdfz'Ns7 ljljw ;fx"8 ;xfos÷xf]lN8· sDkgLnfO{ lbg af“sL9 >f]tdf s§f ul/Psf] s/ ltg{ af“sL10 d"No clea[l4 s/ ltg{ af“sL11 cfos/ ltg{ af“sL12 ;]jf z'Ns ltg{ af“sL13 ;+rfnsnfO{ lbg af“sL14 cGo M

:yug s/r]s hf/L ePsf] t/ e'QmfgL gePsf] /sde'QmfgL gePsf] d]l8sn z'Nsz]o/ jfkt k]ZsL (Calls in Advance)

hDdf

68,787,418

- .

204,604

415,831,998

8,263,664

19,514,725

22,472,067

- .

11,631,001

- .

214,422,125

31,686,041

- .

- .

- .

106,114,362

2,511,320

81,000,000

982,439,325982,439,325982,439,325982,439,325982,439,325

100,010,179

- .

2,920,461

241,736,335

31,538,475

20,624,512

10,041,650

- .

16,409,085

- .

118,236,579

25,376,469

- .

1,932,116

60,443,106

1,921,270

- .

631,631,631,631,631,190,237190,237190,237190,237190,237




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



82


Other Assets


1 Interest Receivable Against Investments2 Interest Receivable Against Policy Loans3 Other Interest Receivable against loan(except of Policy Loan)4 Receivable From Other Insurer (Insurance Pool)5 Due from re-Insurer6 Miscellaneous Debtors7 Advance Tax8 Staff advances9 Other advances10 Security Deposits11 Outstanding insurance premuim12 Less: outstanding insurance premium suspense13 Others

a) Prepaid S.B. Claims b) Prepaid Expenses c) Debenture/ Share Application d) Gratuity Fund at CIT e) Cheque deposited but not credited by Banks f) Deffered Tax Assets

Total


Current Liability

201,046,713108,858,466

913,351- .

2,029,0654,663,845

421,350,165160,877244,949231,000

- .- .- .- .

4,248,25840,500,213

5,805,5928,311,2591,687,580

800,051,333

94,645,96765,504,765

- .- .- .- .

303,354,146114,183955,989225,000

- .- .- .- .

2,614,06940,704,000

4,277,5357,860,843

- .

520,256,498


1 Due to Agents

2 Due to other Insurer

3 Due to re-insurer

4 Short term loans

5 Deposit premium

6 Unidentified Premium

7 Miscellaneous creditors

8 Due to Associate/Holding company

9 TDS Payable

10 VAT Payable

11 Income Tax Payable

12 Service Charges Payable to Beema Samiti

13 Payable To Director

14 Others

Defferred Tax

Cheque issued But Not Encashed

Medicial Fee Payable

Calls in Advance

Total

68,787,418

- .

204,604

415,831,998

8,263,664

19,514,725

22,472,067

- .

11,631,001

- .

214,422,125

31,686,041

- .

- .

- .

106,114,362

2,511,320

81,000,000

982,439,325

100,010,179

- .

2,920,461

241,736,335

31,538,475

2,062,412

10,041,650

- .

16,409,085

- .

118,236,579

25,376,469

- .

- .

1,932,116

60,443,106

1,921,270

- .

631,190,237










S.B. MainakDirector


S.K. RoyChairman

83

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgcg';"rL – @^

c;dfKt hf]lvd Joj:yf

– =– =– =

– =




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf




– =– =– =

– =

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

hDdf

84


Provision for Unexpired Risk



1 Unxpired risk provision of ……………… insurance - . - .



Total - . - .










S.B. MainakDirector


S.K. RoyChairman

85


jif{sf] z'?df Joj:yf rfn' cf= j= df yk ul/Psf] Joj:yf

o; jif{ ut jif{ o; jif{ ut jif{

cg';"rL – @^ -s_cGo Joj:yf

rfn' cf= j= df ckn]vg÷e'QmfgL ul/Psf] Joj:yf rfn' cf= j= df lkmtf{ ul/Psf] Joj:yf jif{sf] cGtdf sfod /x]sf] Joj:yf

o; jif{ ut jif{ o; jif{ ut jif{o; jif{ ut jif{

8,157,895 - . - . - . 7,993,421 8,157,895

- . - . 11,905,626 134,479 24,799,191 36,704,817

- . - . - . - . - . - .

- . - . - . - . - . - .

- . - . - . - . - . - .

- . - . - . - . - . - .

94,050 114,187 - . - . 5,165,613 4,314,743

542,557 - . - . 3,227,834 5,358,987 4,953,636

- . - . - . - . - . - .....

16,689,865 - . - . - . 27,756,957 16,942,001

- . - . - . - . - . - .

- . - . - . - . - . - .

25,484,36625,484,36625,484,36625,484,36625,484,366 114,187114,187114,187114,187114,187 11,905,62611,905,62611,905,62611,905,62611,905,626 3,362,3133,362,3133,362,3133,362,3133,362,313 71,074,17071,074,17071,074,17071,074,17071,074,170 71,073,09171,073,09171,073,09171,073,09171,073,091

ljj/0fqm=;+=

1 nfef+z -l8le8]08_ sf] nflu Aoj:yf2 cfos/ Aoj:yf3 nufgLdf gf]S;fgLsf] nflu Aoj:yf4 shf{df gf]S;fgLsf] nflu Aoj:yf5 z+sfZkb cf;fdLsf] nflu Aoj:yf6 cGo gf]S;fgLsf] nflu Aoj:yf7 sd{rf/L ;DaGwL Aoj:yf

-s_ k]G;g tyf pkbfg Aoj:yf-v_ ljbf jfkt Aoj:yf-u_ cfjf; tyf cGo ;'ljwf Aoj:yf-3_ sd{rf/L af]g; Aoj:yf-ª_ cGo

8 cGo Aoj:yf -ljj/0f v'nfpg]_

hDdf

gf]6M rfn' cf=j= df ckn]vg e'QmfgL ul/Psf] Joj:yf lzif{s cGtu{t b]vfO{Psf] /sd e'[Qmfg ul/Psf] 5 .




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



8,157,895 - . 7,993,421 8,157,895

36,704,817 36,839,295 - . - .

- . - . - . - .

- . - . - . - .

- . - . - . - .

- . - . - . - .

4,314,743 2,604,951 944,920 1,823,979

4,953,636 3,227,834 947,908 4,953,636

- . - . - . - .

16,942,001 - . 27,504,821 16,942,001

- . - . - . - .

- . - . - . - .

- . - . - . - .

71,073,09171,073,09171,073,09171,073,09171,073,091 42,672,08042,672,08042,672,08042,672,08042,672,080 37,391,07037,391,07037,391,07037,391,07037,391,070 31,877,51031,877,51031,877,51031,877,51031,877,510

86

CIL 12th ANNUAL REPORT12th ANNUAL REPORTSchedule - 26 (A)Schedule - 26 (A)Schedule - 26 (A)Schedule - 26 (A)Schedule - 26 (A)

Other Provision

Particulars

Current Year Previous Year Current Year

S.N.

Previous Year

Provision at Begining of the Year Provision for the Year

Current Year Previous Year Current Year Previous Year

Written Back for the Year Provision at the end of the YearAmortized/Payment for the Year

Current Year Previous Year

8,157,895 - . - . - . 7,993,421 8,157,895

- . - . 11,905,626 134,479 24,799,191 36,704,817

- . - . - . - . - . - .

- . - . - . - . - . - .

- . - . - . - . - . - .

- . - . - . - . - . - .

94,050 114,187 - . - . 5,165,614 4,314,743

542,557 - . - . 3,227,834 5,358,987 4,953,636

- . - . - . - . - . - .....

16,689,865 - . - . - . 27,756,957 16,942,001

- . - . - . - . - . - .

- . - . - . - . - . - .

25,484,366 114,187 11,905,626 3,362,313 71,074,170 71,073,091

Note: Under the Column of Amortized/Payment for the year amounts have been paid.

1 Provision For Dividend

2 Provision for Income Tax

3 Provision for loss on Investment

4 Provision for loss on Loan

5 Provision For bad Debts

6 Provision for other Loss

7 Provision For Employees

a) Pension and Gratuity

b) Leave Encashment

c) Housing and Other Benefit

d) Bonus

e) Others

8 Other Provision

Total










S.B. MainakDirector


S.K. RoyChairman

8,157,895 - . 7,993,421 8,157,895

36,704,817 36,839,295 - . - .

- . - . - . - .

- . - . - . - .

- . - . - . - .

- . - . - . - .

4,314,743 2,604,951 944,920 1,823,979

4,953,636 3,227,834 947,908 4,953,636

- . - . - . - .

16,942,001 - . 27,504,821 16,942,001

- . - . - . - .

- . - . - . - .

- . - . - . - .

71,073,091 42,672,080 37,391,070 31,877,510

87

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgcg';"rL – @&

ckn]vg÷;dfof]hg x'g af“sL ljljw vr{x?


- .

- .

- .

38,914,678

- .

38,914,67838,914,67838,914,67838,914,67838,914,678

- .

- .

- .

51,168,811

- .

51,168,81151,168,81151,168,81151,168,81151,168,811

1 ckn]vg ug{ af“sL k|f/lDes vr{2 ckn]vg ug{ af“sL k"j{ ;+rfng vr{3 ckn]vg ug{ af“sL nufgL lk|ldod4 ckn]vg ug{ af“sL :yug ul/Psf vr{5 cGo -ljj/0f v'nfpg]_

hDdf




czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f‘ocWoIf



88


Miscellaneous Expenses (To the extent not adjusted/amortize)



1 Preliminary Expenditure (To the extent not written off)

2 Pre- Operation Expenditure (To the extent not written off)

3 Deferred Expenses (To the extent not written off)

4 Other (To the extent not written off)

Total

- .

- .

38,914,678

- .

38,914,678

- .

- .

51,168,811

- .

51,168,811










S.B. MainakDirector


S.K. RoyChairman

89

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgSchedule - 28Schedule - 28Schedule - 28Schedule - 28Schedule - 28


Significant Accounting Policies

1. General Information:

1.1 Identity of the Company: Life Insurance

Corporation (Nepal) Limited is a limited liability

company domiciled in Nepal. The Company was

incorporated under the Nepal Companies Act, on

December 26, 2000. The address of its registered

office is Kamaladi, Kathmandu, Nepal. The

Company has a primary listing on the Nepal Stock

Exchange Limited.

1.2 Nature of Business: The company obtained

regulatory approval to undertake Life Insurance

business on September 1, 2001 from Beema Samiti

(Insurance Regulatory Authority in Nepal). Under

the approval, the Company is authorized to carry

Life Insurance Business.

1.3 Promoters and shareholders: The principal

promoters of the company are Life Insurance

Corporation of India (55%) and Vishal Group of

Nepal (25%). The General Public holds 20% shares

in the company.

1.4 Authorization to issue financial statements: The

financial statements were authorized for issue by

the Board of Directors on 66th Board Meeting dated

06.01.2014 and by the Insurance Board on

23.01.2014.

2. Summary of significant accounting policies: The

principal accounting policies applied in the preparation

of these financial statements are set out below. These

policies have been consistently applied to all the years

presented, unless otherwise stated.

2.1 Basis of Preparation (NAS 1): Financial

statements have been prepared in accordance with

formats prescribed by Financial Directives 2065 of

Insurance Board of Nepal. The Insurance Board is

authorized by the Insurance Act to prescribe format

for preparation of financial statements. Where as

the said format does not address a particular issue,

Nepal Accounting Standard has been applied.

cg';"rL – @*

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

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

!= ;fdfGo hfgsf/LM

!=! sDkgLsf] kl/roM nfOkm OG:of]/]G; skf]{/]zg -g]kfn_

ln= g]kfn l:yt Ps l;ldt bfloTj ePsf] sDkgL xf] .

of] sDkgL sDkgL P]g cGtu{t ldlt @^ l8;]Dj/, @)))

df :yfkgf ul/Psf] xf] . o; sDkgLsf] /lhi68{

sfof{nosf] 7]ufgf sdnfbL, sf7df08f}+, g]kfndf /x]sf]

5 . o; sDkgLsf] z]o/ g]kfn lwtf]kq ljlgdo ahf/

ln= df ;"lrs[t /x]sf] 5 .

!=@ Aoj;fosf] k|s[ltM sDkgLn] hLjg aLdf ;DjGwL sf/f]af/

ug{ aLdf ;ldltaf6 ldlt ! ;]K6]Dj/, @))! df cg'dlt

k|fKt u/L hLjg aLdf Aoj;fo ub}{ cfO/x]sf] 5 .

!=# ;+:yfks Pj+ ;fwf/0f z]o/wgLx¿M sDkgLsf] d"Vo

;+:yfksx¿df ef/tLo hLjg aLdf lgud -%% k|ltzt_

/ lazfn u|'k, g]kfn -@% k|ltzt_ /x]sf 5g\ . ;j{;fwf/0f

z]o/wgLx¿sf] @) k|ltzt lx:;f /x]sf] 5 .

!=$ ljlQo ljj/0f hf/L ug{ k|fKt :jLs[ltM ljlQo ljj/0f

hf/L ug{ sDkgLsf] ;~rfns ;ldltsf] ̂ ^ cf}+ a}7saf6

ldlt @)&).)(.@@ df / aLdf ;ldltaf6 ldlt

@)&).!).)( df :jLs[tL k|fKt ePsf] 5 .

@= k|d'v n]vf gLltsf] ;+lIfKt ljj/0fM ljlQo ljj/0fx¿ lgdf{0f

ubf{ cjnDag ul/Psf k|d'v n]vf gLlt lgDg lnlvt /x]sf

5g . cGoyf pNn]v ePsf]df afx]s oL gLltx¿ lg/Gt/

¿kdf nfu" /x]sf 5g\ .

@=! tof/Lsf cfwf/x¿ -g]kfn n]vfdfg !_M ljlQo ljj/0fx¿

aLdf ;ldltåf/f hf/L ul/Psf] ljlQo lgb]{lzsf @)^%

cg';f/sf] 9f“rfdf tof/ ul/Psf] 5 . aLdf ;ldlt aLdf

P]g cg';f/ ljlQo ljj/0fsf] 9f“rf tof/ ug]{ clwsf/

k|fKt lgsfo xf] .

90

CIL 12th ANNUAL REPORT12th ANNUAL REPORTpQm lgb]{lzsfn] ;d]6\g g;s]sf ljifo a:t'nfO{ g]kfnn]vfdfgdf Aoj:yf eP cg';f/ ul/Psf] 5 .

ljlQo ljj/0fx¿ g]kfnL ¿k}+ofdf k|:t't ul/Psf 5g\ .gub k|jfx g/x]sf ljlQo ljj/0fx¿ P]ltxfl;s nfutl;¢fGt tyf :ki6 ¿kdf pNn]v ul/Psf] cj:yfdf afx]sk|f]befjL (Accrual) l;¢fGt cg'¿k tof/ ul/Psf] 5 .

@=@ g]kfn n]vfdfg;usf k|d'v leGgtfx¿M

s_ aLdfz'Ns / cGo cfDbfgLx¿ -aLdfz'Nsdf Aofh_nfO{ gub cfwf/df hgfO{Psf] tyf n]vf°g ul/Psf]5, h'g g]kfn n]vfdfg & df lgb]{lzt ul/Psf]Aoj:yf cg'¿k 5}g . g]kfn n]vfdfg cg':ff/k|fKt ePsf] / k|fKt x'g af“ls /sd ;d]t cfDbfgLdfn]vf°g ul/g' kb{5 .

v_ kl5 e'QmfgL ug'{kg]{ sd{rf/L ;'ljwfx¿ ljj/0ftof/ ubf{sf] ldltnfO{ cjsf; ldlt dfgL ;f]ldltdf sfod x'g cfpg] /sdsf] cfwf/df u0fgful/Psf] 5 h'g g]kfn n]vfdfg !$ cg';f/ 5 .g]kfn n]vfdfg !$ (NAS 14) cg';f/ sd{rf/L;'ljwf bfloTj / ;]jf afktsf] bfloTjsf] nfutsf]jt{dfg d"Nodf u0fgf / n]vf°g ug'{ kb{5 .

#= a}b]lzs d'b|f -g]kfn n]vfdfg !!_M ljb]zL d'b|fdf ul/Psf]sf/f]jf/nfO{ sf/f]jf/ ePsf] ldltdf sfod ljlgdo b/ cg'¿kg]kfnL d'b|fdf ¿kfGt/ ul/Psf] 5 . sDkgLsf] s'g} klg;DklQ tyf bfloTj ljb]zL d'b|fdf /x]sf] 5}g .

$= l:y/ ;DkQLM

:jfldTjdf ePsf] ;DkQL -g]kfn n]vfdfg ̂ _M l:y/ ;DkQLnfO{nfut d"Nodf x|f; s§L / Iflt gf]S;fg 36fO{ b]vfOPsf] 5 .nfut d"Nodf vl/b d"No / To;nfO{ ck]lIft pkof]u x'g] ul/sfo{ ug{;Sg] cj:yfdf Nofpg nfu]sf] cGo ;a} vr{x¿;dfj]z 5g\ .

x|f; s§LM

s_ l:y/ ;DkQLsf] x|f; s§L 36\bf] x|f; k|0ffnLsf] b/n]-cg'dflgt cfo'sf] cfwf/df_ ul/Psf] 5 . ljljw ;DkQLzLif{sx¿ cGtu{t lgDgfg';f/sf] x|f; s§L b/ ckgfOPsf] 5-zLif{sx¿ aLdf ;ldltaf6 tf]lsP adf]lhd /flvPsf] 5_ .

The financial statements are presented in Nepalese

Rupee. The financial statements, except cash flow

statement, are prepared in accordance with the

historical cost convention, on accrual basis of

accounting (except otherwise stated).

2.2 Significant Deviations from Nepal Accounting

Standards:

a) Premium and some of the other incomes

(interest on premium) are recognized and

accounted on cash basis which is a deviation

from the recognition of revenue prescribed in

NAS 7 which requires recognition of revenue

at the fair value of consideration received and

receivable.

b) Post employment benefits of employees are

measured at the amount payable on the date

of preparation of financial statement assuming

retirement on that date. This is deviation from

the measurement and recognition prescribed

in the NAS 14 which requires recognition of

post employment benefits at present value of

defined benefit obligations and current service

cost.

3. Foreign Currency (NAS 11): Transactions in foreign

currencies are translated to Nepalese Rupee at the

foreign exchange rate ruling at the date of the transaction.

The Company has no monetary or non-monetary assets

and liabilities denominated in foreign currency.

4. Fixed Assets (NAS 6):

Owned Assets: Fixed Assets are stated at cost less

accumulated depreciation (see below) and impairment

losses. The cost includes purchase price and any cost

directly attributable to bringing the assets to its working

condition for its intended use.

Depreciation:

a) Depreciation is charged on Written down Value

method over the estimated useful lives of fixed

assets. The depreciation rates applied for various

assets categories are as follows (Categories

prescribed by Beema Samiti).

91

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bg;DklQsf] k|sf/ x|f; s§L b/

kmlg{r/ / lkmS;/x¿ @%%

sfof{no ;fdfu|L @%%

sDKo'6/ / O=l8=lk= @%%

cb[Zo ;DkQL @%%

lnhdf lnOPsf] ;DkQL @%%

;jf/L ;fwgx¿ @)%

cGo ;DkQLx¿ @%%

v_ l:y/ ;DkQL vl/b u/]sf] csf]{ dlxgfb]lv x|f; s§L

ul/ vr{ n]Vg] Aoj:yf ul/Psf] 5 . laqmL tyf ckn]vg

ul/Psf] l:y/ ;DkQLsf] xsdf laqmL tyf ckn]vg

x'g'eGbf cufl8sf] dlxgf;Dd x|f; s§L ul/Psf] 5 .

u_ ¿= %,)))÷– eGbf sd d"No ePsf] k'“hLut ;fdfgsf]

vl/bnfO{ vl/b u/]sf] jif{df g} gfkmf–gf]S;fg lx;fa /

cfo–Aoo lx;fadf vr{ n]vL n]vf°g ug]{ gLlt lnOPsf] 5 .

%= nufgLM

s_ juL{s/0fM ljlQo ljj/0f tof/ ul/Psf] ldltaf6 !@

dlxgfleq kl/kSj x'g] nufgLnfO{ cNksflng nufgLdf

/flvPsf] 5 . cNksflng afx]s cGo ;a} nufgLnfO{

bL3{sflng nufgL cGt{ut juL{s/0f ul/Psf] 5 .

v_ d"Nof°gM

;/sf/L lwtf]kqM ;/sf/L lwtf]kqx¿df ul/Psf]

nufgLnfO{ nfut d"No jf c+lst d"No dWo] h'g sd 5,

;f]xL b/df n]vf°g ul/Psf] 5 . c+lst d"No eGbf

nfut d"No al9 ePsf] v08df a9L /sd -lk|ldod_

nfO{ ;f] ;/sf/L lwtf]kqsf] e'QmfgL cjlwleq k|To]s

jif{ ;dfg'kflts ¿kdf ckn]vg ul/Psf] 5 . nfut

d"No eGbf c+lst d"No al9 ePsf] v08df To:tf] /sd

-5'6_ nfO{ ;f] ;/sf/L lwtf]kqsf] e'QmfgL cjlwleq

k|To]s jif{ ;dfg'kflts lx;fan] nufgLdf d'gfkmf zLif{s

cGtu{t n]vf°g ul/Psf] 5 .

a}+s tyf ljlQo ;+:yfsf] d'2tL lgIf]kM a}+s tyf ljlQo

;+:yfdf ul/Psf] d'2tL lgIf]knfO{ ;f“jf /sddf n]vf°g

ul/Psf] 5 .

Types of Property Depreciation rate

Furniture & Fixtures 25%

Office Equipment 25%

Computer and EDP 25%

Intangible Assets 25%

Lease Hold Assets 25%

Vehicles 20%

Other Assets 25%

b) Depreciation is provided on the fixed assets from

the subsequent month of the acquisition date to

the prior month of disposal unless it is fully

depreciated before its disposal.

c) Capital Items for less than Rs. 5000/- are treated

as Revenue Expenditure in the year of acquisition

and charged to Profit and Loss Account and

Revenue Account.

5. Investments:

a) Classification: Investments maturing within twelve

months from the date of financial statements are

classified as short-term investments. Investments

other than short-term investments are classified as

long-term investments.

b) Valuation:

Government securities: Government securities are

stated on cost price or face value whichever is less.

Premium (excess of cost price over face value) is

amortized on a straight line basis over the holding/

maturity period. Similarly discount (excess of face

value over cost price) is accounted as gain on

investment on a straight line basis over the holding/

maturity period.

Fixed Deposit of Banks/Financial Institutions:

Fixed deposits in commercial banks and other

financial institutions are accounted on principal

amount.

92

CIL 12th ANNUAL REPORT12th ANNUAL REPORTShares of public Companies: The investments

made in ordinary shares of public companies are

accounted on cost price.

Debentures of Public Companies: Debentures of

public companies are stated on cost price or face

value whichever is less. Premium (excess of cost

price over face value) is amortized on a straight

line basis over the holding/maturity period. Similarly

discounts (excess of face value over cost price)

are accounted as gain on investment on a straight

line basis over the holding/maturity period.

Impairment: Securities that are listed in stock

exchange are considered as marketable securities.

Any loss arising from change in market value is

credited to Provision to Loss on Investment by

charging to Profit and Loss Account. Gain arising

from change in market price is not recognized as

revenue unless disposed.

5.1 Cash and Bank Balances: Cash and bank balance

comprises cash balances, bank balances other

than fixed deposits and other highly liquid materials.

Bank overdrafts that are repayable on demand and

form an integral part of the company’s cash

management are included within borrowings in

current liabilities on the Balance Sheet.

6. Doubtful Debts: The Company does not have any

doubtful debts during the year; as such no provision has

been made.

7. Provision for unexpired risk: The company has not

made any provision for unexpired risk because the entire

surplus has been transferred to Life Fund.

8. Miscellaneous Expenditure to the extent not written

off: Miscellaneous expenditure to the extent not written

off comprises of premium paid on investments as stated

in policy.

klAns ln= sDkgLsf] z]o/x¿M klAns ln= sDkgLx¿sf];fwf/0f z]o/df ul/Psf] nufgLnfO{ nfut d"Nosf]

cfwf/df n]vf°g ul/Psf] 5 .

klAns sDkgLsf] C0fkqx¿M klAns ln= sDkgLsf]

C0fkqnfO{ nfut d"No / c+lst d"No dWo] h'g sd 5,

;f]xL c'g;f/ b]vfO{Psf] 5 . c+lst d"NoeGbf nfut d"No

al9 ePsf] v08df To:tf] al9 /sd -lk|ldod_ nfO{ To:tf]

C0fkqsf] e'QmfgL cjlwleq k|To]s jif{ ;dfg'kflts ¿kdf

ckn]vg ul/Psf] 5 . nfut d"NoeGbf c+lst d"No al9

ePsf] v08df To:tf] /sd -5'6_ nfO{ ;f] C0fkqsf]

e'QmfgL cjlwleq k|To]s jif{ ;dfg'kflts lx;fan] nufgLdf

d'gfkmf zLif{s cGtu{t n]vf°g ul/Psf] 5 .

gf]S;fgLM lwtf]kq ahf/df ;'lrs[t ul/Psf lwtf]kqx¿nfO{

ahf/of]Uo lwtf]kq (Marketable Securities) elgG5 .

To; k|sf/sf] lwtf]kqsf] ahf/ d"Nodf ePsf] kl/jt{gn]

ubf{ ePsf] gf]S;fgL /sdnfO{ nufgLdf ePsf] gf]S;fg

Aoj:yf zLif{sdf hgfO{ gfkmf–gf]S;fg lx;fa vr{ n]vf°g

ul/Psf] 5 . nufgL laqmL gx'“bf;Dd ahf/ d"Nodf ePsf]

km]/abnaf6 ePsf] gfkmfnfO{ hgfO{Psf] 5}g .

%=! gub / a}+s df}HbftM gub / a}+s df}Hbft cGtu{t gub

df}Hbft, d'2tL lgIf]k afx]ssf] a}s df}Hbft / cGo pRr

t/n ;DkQLx¿ /x]sf 5g\ . a}+s clwljsif{, h'g dfu

ePdf e'QmfgL ul/g' k5{, sDkgLsf] gub Aoj:yfkgsf]

cleGg c+usf] ¿kdf /x]sf] 5 . To; k|sf/sf] a}s

clwljsif{nfO{ jf;nftdf rfn' bfloTj cGt/u{t

cNksfnLg shf{ zLif{sdf b]vfOPsf] 5 .

^= z+sf:kb cf;fdLM o; jif{ sDkgLsf] s'g} klg z+sf:kb cf;fdL

/x]sf] 5}g, t;y{ ;f] afktsf] /sd Aoj:yf klg ul/Psf] 5}g .

&= c;dfKt hf]lvd Aoj:yfM ;Dk"0f{ artnfO{ hLjg aLdf sf]ifdf

:ffl/Psf]n] sDkgLn] of] jif{ c;dfKt hf]lvd cGtu{t /sd

Aoj:yf u/]sf] 5}g .

*= ckn]vg ug{ af“ls ljljw vr{M o; cGtu{t sDkgLn] nufgLdf

e'QmfgL u/]sf] lk|ldod /sd /x]sf] 5 .

93

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bg9. Revenue Recognition (NAS-07):

9.1 Premium Income: Premium Income has been

recognized on cash basis as required under

directives of the Insurance Board.

9.2 Re-insurance Commission: Regular Re-insurance

commissions are recognized on accrual basis.

Profit commissions on re- insurance are recognized

on cash basis which is not in accordance with NAS

07. The Company has received Rs. 42,87,502/- as

profit commission during the year.

9.3 Other Income: Interest (including interest on call

deposit and insurance pool profit) income is

recognized on accrual basis. Dividend income is

recognized as income when right to receive is

established.

9.4 Income from loans and advances: Incomes on

loan against insurance policies and other loans

provided to agents and staffs are accounted for on

accrual basis.

10. Income and Expenditure Allocation Policy:

a) Interest and Dividend incomes are allocated to Profit

and Loss Account and Revenue Account as

prescribed in the Financial Directives 2065 issued

by Insurance Board.

b) Expenses related to insurance business are

charged to Revenue Account.

c) As prescribed in the Financial Directives 2065

issued by Insurance Board, 10% and 90% of

Management expenditure is allocated to Profit &

Loss Account and Revenue Account respectively.

11. Claim Payment: Claims paid include specific claim

settlement costs such as investigation/legal fees and

other directly attributable following a loss accepted.

Claims are accounted for on accrual basis.

(= cfo n]vf°g ljlw -g]kfn n]vfdfg &_M

(=! aLdfz'Ns cfDbfgLM aLdfz'Ns cfDbfgLnfO{ aLdf

;ldltsf] lgb]{lzsf cg'¿k gub cfwf/df n]vf°g

ul/Psf] 5 .

(=@ k'gaL{df sldzgM lgoldt k'gaL{df sldzgnfO{ k|f]befjL

(Accrual) cfwf/df n]vf°g ul/Psf] 5 . k'gaL{df

sldzg cfonfO{ gubL cfwf/df n]vf°g ul/Psf] 5

h'g g]kfn n]vfdfg & adf]lhd /x]sf] 5}g . of] jif{

sDkgLn] ¿= $@,*&,%)@ k'gaL{df gfkmf sldzg cfo

k|fKt u/]sf] 5 .

(=# cGo cfoM Aofh -sn lgIf]kdf k|fKt Aofh ;lxt_

cfonfO{ k|f]befjL (Accrual) cfwf/df n]vf°g ul/Psf]

5 . z]o/ nfef+z cfDbfgLnfO{ nfef+z 3f]if0ff ePsf]

ldltsf] cfwf/df n]vf°g ul/Psf] 5 .

(=$ shf{ / k]ZsLaf6 k|fKt Aofh cfDbfgLM aLdfn]v lwtf]df

k|bfg ul/Psf] shf{ / sd{rf/L Pj+ clestf{nfO{ e'QmfgL

ul/Psf] cGo shf{ af6 k|fKt Aofh cfDbfgLnfO{ k|f]befjL

(Accrual) cfwf/df n]vf°g ul/Psf] 5 .

!)= cfo–Aoo af“8 kmf“8 gLltM

s_ Aofh / nfef+z cfDbfgLnfO{ aLdf ;ldltåf/f hf/L

ul/Psf] ljlQo lgb]{lzsf @)^% cg'¿k gfkmf–gf]S;fg

lx;fa / cfo–Aoo lx;fadf af“8kmf“8 ul/Psf] 5 .

v_ aLdf Aoj;fo;“u ;DjlGwt vr{nfO{ cfo–Aoo lx;fadf

n]vf°g ul/Psf] 5 .

u_ aLdf ;ldltåf/f hf/L ul/Psf] ljlQo lgb]{lzsf @)^%

cg'¿k Aoj:yfkg vr{sf] !)% / ()% /sdnfO{

qmdzM gfkmf–gf]S;fg lx;fa / cfo–Aoo lx;fjdf af“8–

kmf“8 ul/Psf] 5 .

!!= bfjL e'QmfgLM bfjL e'QmfgL cGtu{t bfjL km5\of}{6sf] nflu

cfjZos k/fdz{ tyf cg';Gwfg vr{ / bfloTj :Ljsf/

u/]jfktsf] cGo k|ToIf vr{x¿nfO{ ;dfj]z ul/Psf] 5 .

bfJfL e'QmfgL k|f]befjL (Accrual) cfwf/df n]vf°g ul/Psf]

5 .

94

CIL 12th ANNUAL REPORT12th ANNUAL REPORT11.1 Provision for Insurance Claim: Claims are

recognized on the date of intimation of the loss

without deducting amount recoverable from

reinsurers. Estimated liability for outstanding claims

is determined on the basis of individual claim and

is provided at 115% of outstanding claim as

prescribed in section 15(d) of Insurance Regulation

2049.

12. Recognition of income from Insurance Business:

The insurance liability arising from the insurance

contracts is estimated by independent actuarial

estimation. Amount recommended, on such actuarial

valuation, to recognize as income is recognized in Profit

and Loss Account in accordance with Financial Directives

2065 issued by Insurance Board. However during the

year no such income is recognized on Profit and Loss

Account.

13. Employee Benefits (NAS 14):

Short term employee benefits: Short term benefits to

employees are recognized on accrual basis.

Short term compensated absences: Salary in lieu of

leave is recognized on accrual basis.

Retirement Benefits: The Company has defined benefit

plan for retirement benefits of employees. A defined

benefit plan is a retirement plan that defines an amount

of gratuity benefit that an employee will receive on

retirement, usually dependent on one or more factors

such as age, years of service and compensation. The

Company pays contributions to Citizen Investment Trust

on a contractual basis. The contributions are recognized

as employee benefit expenses when they are due.

14. Income Tax (NAS 9): Income tax on the profit or loss

for the year comprises current and deferred taxes.

Income tax is recognized in the Profit and Loss Account

and Revenue Account except to the extent that it relates

to items recognized directly to equity, in which case it

is recognized in equity.

!!=! aLdf bfjL Aoj:yfM bfjL /sdnfO{ hfgsf/Ldf cfPsf]

ldltdf s"n sjf]n bfloTj /sddf k'gaL{df sDkgLaf6

kfpg' kg]{ /sdnfO{ g36fO{ u0fgf ul/Psf] 5 . e'QmfgL

ug{ af“sL bfjL jfktsf] ;Defljt bfloTjnfO{ aLdf lgodfjnL

@)$(, v08 !%-3_ cg'¿k !!%% k|ltztsf] b/n]

AolStut bfjLsf] cfwf/df Aoj:yf ul/Psf] 5 .

!@= aLdf Aoj;foaf6 k|fKt cfosf] u0fgfM aLdf s/f/af6 pTkGg

aLdf bfloTjx¿sf] n]vf°g :jtGq aLdf°L d'Nof°gsf] cfwfdf

ul/Psf] 5 . To; k|sf/sf] aLdf°L d'Nof°gaf6 cfPsf]

/sdnfO{ cfosf] ¿kdf gfkmf gf]S;fg lx;fadf aLdf ;ldltåf/f

hf/L ul/Psf] laQLo lgb]{lzsf @)^% cg'¿k n]vf°g ul/Psf]

5 . oBkL of] jif{ gfkmf gf]S;fg lx;fadf To; k|sf/sf] cfo

u0fgf ul/Psf] 5}g .

!#= sd{rf/L ;'ljwf -g]kfn n]vfdfg !$_M

cNksflng sd{rf/L ;'ljwfM cNksflng sd{rf/L ;'ljwfnfO{

k|f]befjL cfwf/df u0fgf ul/Psf] 5 .

cNksflng labfafktsf] /sdM labf afktsf] e'QmfgL ug{

af“sL tna /sdnfO{ k|f]befjL cfwf/df u0fgf ul/Psf] 5 .

cjsfz ;'ljwfM sDkgLåf/f sd{rf/Lx¿sf] nflu cjsfz

;'ljwfsf] nfuL lglZrt\ ;'ljwf e'QmfgL x'g] Aoj:yf ul/Psf]

5 . To; Aoj:yf cg'¿k sd{rf/Lx¿n] kfpg] cjsfz

;'ljwfdf pkbfg jfktsf] kfpg] /sd d'Votof sd{rf/Lsf]

pd]/, ;]jf cjlw / tna ;'ljwf cflb cg';f/ lgwf{/0f x'g]

ub{5 . pkbfg ;'ljwf jfktsf] of]ubfg /sd sDkgL /

gful/s nufgL sf]if aLr ePsf] ;Demf}tf cg';f/ gful/s

nufgL sf]ifdf hDdf ul/G5 . of]ubfg /sd e'QmfgL ug'{ kg]{

lbgdf vr{ hgfpg] ul/G5 .

!$= cfos/ -g]kfn n]vfdfg (_M jif{sf] Gffkmf gf]S;fgdf cfos/

cGtu{t rfn' / :yug cfos/ ;dfj]z /x]sf 5g\ . OSo'6Ldf

n]vf°g ul/Psf] /sd afx]s cfos/ /sdnfO{ gfkmf gf]S;fg

lx;fa / cfo–Aoo lx;fadf n]vf°g ul/Psf] 5 .

95

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgCurrent Tax: Current tax is the amount of income taxes

payable (recoverable) in respect of the taxable profit (tax

loss) for a period. Current tax liabilities (assets) for the

current and prior periods are measured at the amount

expected to be paid to (recovered from) the taxation

authorities, using the tax rates that have been enacted

by the Balance Sheet date

Deferred Tax: Deferred tax asset is recognized for all

temporary differences to the extent that it is probable

that taxable profit will be available against which the

deductible temporary difference can be utilized.

Deferred tax assets and liabilities are measured at the

tax rates that are expected to apply to the period when

the asset is realized or the liability is settled, based on

tax rates that have been enacted or substantively

enacted by the balance sheet date.

Allocation between Profit and Loss Account and

Revenue Account: Income Tax is allocated between

Profit & Loss Account and Revenue Account as per the

derived weights of Profit & Loss Account and Revenue

Account as prescribed by Financial Directives 2065

issued by the Insurance Board. During the year, as there

is no profit, allocation of Income tax has not been done

to Profit and Loss account and Revenue Account.

15. Impairment of Assets (NAS -18): The carrying amounts

of assets are reviewed at each balance sheet date, if

there is any indication of impairment based on internal/

external factors. An impairment loss is recognized

wherever the carrying amount of an asset exceeds its

recoverable amount. The recoverable amount is the

greater of the assets net selling price and value in use.

In assessing value in use, the estimated future cash

flows are discounted to their present value at the weighted

average cost of capital.

16. Financing and Borrowing Cost (NAS- 08): Financing/

Borrowing costs attributable to the acquisition of the

asset is capitalized as part of the cost of the asset.

Other Financing/Borrowing costs are charged to the

Income Statement.

17. Provisions, Contingent Liabilities and Contingent

Assets (NAS-12): The Company creates a provision when

there is a present obligation as a result of past events

that probably requires an outflow of resources and a

reliable estimate can be made of the amount of the

obligation.

rfn' s/M rfn' s/ of] jif{sf] s/of]Uo cfosf] cfwf/df

e'QmfgL ug'{kg]{ -e'QmfgL lng'kg]{_ cfos/ /sd xf] . of] jif{ /

cl3Nnf] jif{x¿sf] rfn' s/ bfloTj -;DklQ_ nfO{ af;nft

ldltdf nfu" /x]sf] b/ cg'¿k s/ sfof{nonfO{ e'QmfgL

ug'{kg]{ -e'QmfgL lng'kg]{_ /sdsf] cfwf/df u0fgf ul/Psf] 5 .

:yug s/M :yug s/ ;DkQLnfO{ s/ of]Uo cfo / n]vfut

cfosf] ;dofGt/sf] sf/0fn] eljZodf k|fKt x'g;Sg] cfosf]

cfwf/df u0fgf ul/Psf] 5 .

:yug s/ ;DkQL / bfloTjnfO{ jf;nft ldltdf nfu'/x]sf]

s/ b/sf] cfwf/df pQm ;DklQ k|fKt x'g] jf bfloTj km5\of]{6

x'g] ;dodf nfu" x'g ;Sg] s/ b/ sfod ul/ u0fgf ul/Psf]

5 .

gfkmf gf]S;fg lx;fa / cfo–Aoo lx;fadf af“8 kmf“8M cfos/nfO{

gfkmf gf]S;fg lx;fa / cfo–Aoo lx;fadf aLdf ;ldltåf/fhf/L ul/Psf] ljlQo lgb]{lzsf @)^% cg'¿k lgsflnPsf]

ef/sf] cfwf/df af“8–kmf“8 ul/Psf] 5 . of] jif{ s/ of]Uo

gfkmf gePsf]n] cfos/nfO{ gfkmf gf]S;fg lx;fadf af“8kmf“8

ul/Psf] 5}g .

!%= l:y/ ;DkQLsf] Ifo -g]kfn n]vfdfg !*_M l:y/ ;DkQLdf

cfGtl/s Pj+ afx\o sf/0faf6 s'g} Ifo ePsf] kfOPdf To;nfO{k|To]s jf;nft ldltdf k'g/fjnf]sg ul/G5 . l:y/ ;DkQLsf]

d"NoeGbf n]vfl°t /sd (Carrying Amount) a9L ePdf Ifo

x|f; ePsf] dflgG5 . ;Dkltsf] s"n laqmL d"No / pkoflutfsf]

df]n eGbf a9L n]vfl°t /sd /x]sf] x'g kb{5 . pkof]lutfsf]

df]n lgwf{/0f ubf{ k"“hLsf] jt{dfg cf}ift d"Nodf eljiodf x'g]

cg'dflgt gub k|jfxx¿nfO{ 36fO{Psf] 5 .

!^= nufgL tyf C0f nfut -g]kfn n]vfdfg )*_M l:y/ ;DkQLk|fKt ubf{ x'g] nufgL / ;fk6L nfutx¿nfO{ l:y/ ;DkQL

nfutsf] ¿kdf k"“hLs[t ul/Psf] 5 . cGo nufgL tyf ;fk§L

nfutx¿nfO{ cfDbfgL lx;fadf hgfOPsf] 5 .

!&= ;+efljt bfloTjx¿ / ;+efljt ;Dkltx¿sf] k|fjwfgx¿

-g]kfn n]vfdfg !@_M lautdf ePsf] s'g} 36gfsf] sf/0f

jt{dfgdf bfloTj l;h{gf e} ;f]sf] nflu ;|f]taf6 lgsf;f cfjZos

x'g uPdf / bfloTj k'/f ug{ ljZjzgLo /sdsf] th'{df ug{;lsG5 eg] sDkgLn] cfjZos k|fjwfgsf] Joj:yf u5{ .

96





czf]s cu|jfn;+rfns


P;=aL= dfogfs;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= /f ‘ocWoIf



A disclosure for a contingent liability is made when there

is a possible obligation or a present obligation that may,

but probably will not, require an outflow of resources.

When there is a possible obligation or a present obligation

in respect of which the likelihood of outflow of resources

is remote, no provision or disclosure is made.

Contingent assets are not recognized in the financial

statements. However, contingent assets are assessed

continually and if it is virtually certain that an economic

benefit will arise, the asset and related income are

recognized in the period in which the change occurs.

18. Earnings per Share (NAS 26): Basic earnings per share

are calculated by dividing the net profit or loss for the

period attributable to equity shareholders by the weighted

average number of equity shares outstanding during the

period.

19. Comparative information: Comparative information

has not been restated in respect of any items due to

change in accounting policies or fundamental errors.

20. Segment Reporting (NAS 23): A segment is a

distinguishable component of the Company that is

engaged either in providing products or services

(business segment) which is subject to risks and rewards

that are different from those of other segments. These

business segments are reported through separate

revenue accounts.

s'g} ;+efljt bfloTj jf at{dfgdf s'g} bfloTj x'g ;Sg]

-hf] ;+efjt x'b}g_ nfO{ ;|f]taf6 s]xL lgsf;f cfjZos ePdf

;+efljt bfloTjsf] k|fjwfg Joj:yf ul/G5 . olb ;+efljt

bfloTj jf at{dfg bfloTjsf nflu ;|f]taf6 lgsf;f ug{

g;lsg] ePdf o:tf] k|fjwfg /flv+b}g .

ljlQo ljj/0fdf ;+efljt ;DkQLx¿nfO{ n]vf°g ul/+b}g .

t}klg ;+efljt ;DkQLx¿nfO{ lg/Gt/ ¿kn] d"Nof°g ul/Psf]

x'G5, olb cjf:tljs ¿kdf cfly{s nfe cfpg] lglZrt\

ePdf ;f] ;DkQL / ;Da4 cfDbfgLnfO{ kl/jt{g b]lvPsf]cjlwdf n]vf°g ul/G5 .

!*= k|lt z]o/ cfDbfgL -g]kfn n]vfdfg @^_M cfwf/e"t k|lt

z]o/ cfDbfgL lgsfNbf s'g} tf]lsPsf] cjlwdf z]o/wgLx¿nfO{

k|fKt x'g] s"n gfkmf jf gf]S;fgnfO{ ;f] cjlwdf laBdfg s"n

z]o/ ;+Vofn] efu ul/Psf] x'G5 .

!(= t'ngfTds hfgsf/L -g]kfn n]vfdfg !(_M n]vf gLlt jf

cfwf/e"t uNtLsf] sf/0faf6 kl/jt{g ePsf] zLif{sdf ;fk]lIfs

hfgsf/L k'gM jlu{s/0f ul/ pNn]v ul/Psf] 5 .

@)= Aoj;fo v08sf] ljj/0f -g]kfn n]vfdfg @#_M sDkgLn]

k|of]hgdf NofPsf] ljleGg lsl;dsf] ;]jf / zt{ ;lxtsf]

aLdf of]hgfnfO{ ljleGg pko'Qm Aoj;fo v08df (Business

Segment) /fvL ;f]xL cg';f/ cnu–cnu cfo–Aoo lx;fa

tof/ ul/Psf] 5 .

97

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgSchedule - 29Schedule - 29Schedule - 29Schedule - 29Schedule - 29


Notes to Accounts related toFinancial 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 on

behalf of the company.

e) There are no other liabilities except repudiated death

claims of Rs. 131.06 lakh.

2. Basis adopted by Actuary while evaluating Insurer’s

liabilities:

In the last valuation (till 15.07.2013), the gross Premium

method of valuation was adopted. Next valuation will be

done on the basis of financial statement of 16.07.2014,

as per instruction of Beema Samiti dated 2069-05-07

Bi. Sa. (2069-70 ) dispatch no. 946 and dated 2070.03.28

Bi. Bi. Sa. 652(2069/70) dispatch no.4935.

3. There are no dispute and limitation regarding the

company’s property. The company owns all the

properties and assets that are purchased by the

Company and there is no dispute on that.

4. Investments equal to life fund, outstanding death claims

& unexpired risk of Financial year 2068/69 (2011/12)

amounting to Rs. 8910851.60 thousand are earmarked

in the name of Insurance Board of Nepal as per their

instruction.

5. The company has not made any commitments on its

loans, investments and fixed assets.

6. Amount relating to purchase/sale agreements of

Investment:

i) There are no acquired properties/assets of which

ownership has not been obtained by the company.

cg';"rL – @(

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

ljlQo ljj/0f;+u ;DalGwt n]vf

;DalGw l6Kk0fLx?

!= ;Defljt bfloTjx?M

s_ of] jif{ r'Qmf jf e'QmfgL x'g af“sL nufgL 5}g .

v_ of] jif{ sDkgLn] s'g} k|Tofe"lt k|lta4tf u/]sf] 5}g .

u_ of] jif{ aLdfn]v cGtu{teGbf afx]s cGo s'g} bfaLcfPsf] 5}g .

3_ of] jif{ sDkgLn] jf sDkgLsf] tkm{af6 s'g} Uof/]G6L lbg]sfd ePsf] 5}g .

ª_ c:jLs[t d[To' bfaL /sd ¿= !#!=)^ nfv afx]s cGos'g} bfloTj /x]sf] 5}g .

@= aLdf°Ln] aLdssf] bfloTj d"Nof°g ubf{ cjnDag u/]sf]cfwf/x?Mut aLdf°Lo d"Nof°g -!%=)&=@)!#_ df aLdf°Låf/f s"n(Gross) lk|ldod ljlw ckgfOPsf] 5 / aLdf ;ldltsf] lgb]{zgldlt @)^(.)%.)& lj=lj=zf= -@)^(.&)_ r=g= ($^ /ldlt @)&).)#.@* lj=lj=zf= ̂ %@ -@)^(.&)_ r=g= $(#%adf]lhd cfufdL aLdf°Lo d"Nof°g !^=)&=@)!$ sf] ljlQoljj/0fsf] cfwf/df ug'{kg]{5 .

#= sDkgLsf] ;DkQLdf s'g} lsl;dsf] ;Lldttf tyf ljjfbx?/x]sf] 5}g . sDkgLn] xfn;Dd v/Lb u/]sf] ;Dk"0f{ ;DkQLsDkgLsf] :jfldTjdf /x]sf] 5 / To;df s'g} bfjL jf ljjfb/x]sf] 5}g .

$= aLdf ;ldltsf] lgb]{zfg'zf/ cf=j= @)^*÷@)^( sf] hLjgsf]if, af“sL d[To[ bfjL / c;dfKt hf]lvd a/fa/sf] nufgL/sd ¿= *(,!),*%!=^) xhf/nfO{ Oo/dfs{ u/L aLdf;ldltdf /flvPsf] 5 .

%= shf{, nufgL tyf l:y/ ;DkQLsf] nflu sDkgLn] xfn;Dds'g} lsl;dsf] k|lta4tf AoQm u/]sf] 5}g .

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

s_ v/Lb ul/Psf] ;DkQLsf] :jfldTj k|fKt gePsf] s'g};DkQL g/x]sf] .

98


nufgL ePsf] lwtf]kq÷;+:yf /sd ¿=

c_ ;/sf/L lwtf]kq / af]08 *,!#,&%,)))

cf_ jfl0fHo a}+sx? $(,@%,)),)))

O_ ljsf; a}+sx? &,)),)),)))

O{_ kmfOgfG; sDkgLx? ^,#%,)),)))

p_ laleGg sDkgLx?sf] z]o/ tyf C0fkqx? !@,&),&),)))

hDdf kl/kSj ePsf] nufgL *#,$$,$%,)))*#,$$,$%,)))*#,$$,$%,)))*#,$$,$%,)))*#,$$,$%,)))

nufgL ePsf] lwtf]kq÷;+:yf /sd ¿=

c_ ;/sf/L lwtf]kq / af]08 - =cf_ jfl0fHo a}+sx? @,!@,&%,)),)))O_ ljsf; a}+sx? !,*)),)),)))O{_ kmfOgfG; sDkgLx? %,)),)),)))p_ laleGg sDkgLx?sf] z]o/ tyf C0fkqx? !@,@!,*!,$%@

hDdf -s_ @,$&,(^,*!,$%@@,$&,(^,*!,$%@@,$&,(^,*!,$%@@,$&,(^,*!,$%@@,$&,(^,*!,$%@

v_ laqmL ul/Psf] ;DklQsf] e'QmfgL k|fKt x'g af“sLg/x]sf] .

&= jif{e/L ul/Psf] nufgLsf] ljj/0fM

s_ nufgLx?M

v_ o; jif{ cjlw kl/kSj eO{ laqmL ul/Psf nufgLljj/0fx?M

*= sDkgLn] ;a} a}+sx?af6 a}+s df}Hbft ljj/0f k|fKt u/]sf] /;f] d'tflas sDkgLsf] lx;fa ldnfg ul/ ljj/0fsf] nutJojl:yt /flvPsf] 5 .

(= aLds÷k'gaL{ds aLrsf] sf/f]af/ lx;fanfO{ ;DalGwtaLds÷k'gaL{dssf] ;dy{g ;lxtsf] lx;fa ldnfg ljj/0ftof/ kfl/Psf] 5 .

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

!!= ;DalGwt kIf;“u ePsf] sf/f]af/M

s_ ef/tLo hLjg aLdf lgud;“usf] ;Demf}+tf cg';f/ k|fljlws ;]jfz'Ns jfkt ¿= $@,%$,!!* -Eof6 ;lxt_ e'QmfgLul/Psf] afx]s sDkgLåf/f sDkgLsf] ;+rfns jf ;+rfns;“u;DalGwt JolQm jf ;+:yf;+u s'g} sf/f]af/ ul/Psf] 5}g .k|fljlws ;]jf z"Ns ;Demf}tf aLdf ;ldltaf6 ldlt hgj/L !,@)!# af6 nfu" x'g] u/L % jif{sf nfuL :jLs[t /x]sf] 5 .

ii) There is no amount due against sales of the

company’s property.

7. Detail of investments made during the year is as follows.

a) Investments:

b) Details of matured and sold Investments

during the financial year:

8. The company has received bank statements of all bank

accounts and all bank accounts are reconciled.

9. Description of transactions of re-insurance is approved

by Re-insurer along with reconciliation.

10. The company has made investments according to the

relevant insurance rules and criteria prescribed by

Insurance Board.

11. Related party Transactions:

a) The company has not made any transaction and

investments with Directors of the company or other

person and organization associated to Directors

except Technical Service Fee Rs.4254 thousand

(including VAT) as per agreement with Life

Insurance Corporation of India. The Technical

Service Fee agreement is approved by Insurance

board of Nepal for the period of 5 years w.e.f.

January 1, 2013.

Particulars Amount

a) Government Securities & Bond 8,13,75,000

b) Deposit in Commercial Banks 49,25,00,000

c) Deposit in Development Banks 7,00,00,000

d) Deposit in Finance Companies 6,35,00,000

e) Shares/Debenture of Various Companies 12,70,70,000

Total (A) 83,44,45,000

Particulars Amount

a) Government Securities & Bond - =

b) Deposit in Commercial Banks 2,12,75,00,000

c) Deposit in Development Banks 18,00,00,000

d) Deposit in Finance Companies 5,00,00,000

e) Shares/Units/Debenture of Various Companies 12,21,81,452

Total (A) 2,47,96,81,452

99

CIL!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bgv_ ;+rfns tyf d"Vo Joj:yfksnfO{ lbOPsf] tna, eQf

Pj+ e|d0fjfktsf] cNksflng ;'ljwfx?M

;+rfnsx?nfO{ ;+rfns ;ldlt a}7s eQf ¿= !,%),)))

Nf]vf ;ldlt ;b:ox?nfO{ a}7s eQf ¿= #),)))

;+rfnsx?nfO{ e|d0f eQf ¿=!^,$$,**)

>L kL= cf/= ld> -k|d'v sfo{sf/L clws[t_ ¿= @@,&*,#&!

>L /fh]z s'df/ rf}w/L -;xfos dxf–k|aGws_ ¿= !&,*&,%)(

>L pbo s'df/ -k|aGws cfO=6L=_ ¿=!*,#*,*($

pk/f]Qm tna eQf afx]s a:gsf] nflu 3/sf] Aoj:yf ;d]tul/Psf] 5 .

!@= ;/sf/L C0fkqsf] ;'/If0fdf g]kfn P;=la=cfO= a}saf6sDkgLn] clwljsif{ C0f ;'ljwf jfkt ¿= #,@%,*#@ xhf/lnPsf] 5 . ;fy} Pr P08 jL ljsf; a}+s ln= af6 (),)))xhf/ ;f]lx a}+ssf] d'2tLnfO{ w/f}6L /fvL C0f lnPsf] 5 .

!#= sDkgLn] s/ r'Qmf k|df0fkq cf=j= @)^*÷^( ;Dd k|fKtu/]sf] 5 . cl3Nnf] cf=j= x?sf] s/, hl/jfgf jf Aofh jfkts'g} bfjL k|fKt u/]sf] 5}g / o; jfkt s'g} /sd e'QmfgL ePsf]5}g . cfos/ P]g, @)%* cg';f/ clu|d s/af6 /sd¿= (,#^(=!) xhf/ sDkgLn] cf=j= @)^#÷)^$ ;Ddsf]cfos/ ldnfg u/]sf] 5 . cf=j= @)^#÷)^$ kl5sf] ltg{ kg]{s/ / cu|Ld s/nfO{ qmdzM ltg{ of]Uo / k|fKt ug{ of]Uo eGg]zLif{s cGtu{t 5'§f5'§} u/L /flvPsf] 5 .

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

!%= sDkgLn] laldtnfO{ cf=j= @)^%÷)^* ;Ddsf] af]g;sf] b/3f]if0ff u/]sf] 5 . xfn;Dd cGtl/d af]g;sf] ?kdf nfu"ul/Psf] ljj/0f lgDg cg';f/ /x]sf] 5M

;fjlws aLdf / hLjg cfgGb aLdfn]vx?dfM

jif{ cjlw %–!( @)–@$ @% jf ;f] eGbf al9

af]g; b/ ^!=)) ^%=)) &%=))

wglkmtf{ aLdfM

jif{ cjlw !% @) @%

af]g; b/ ^!=)) ^@=)) ^#=))

b) Compensation paid to key management

Personnel:

Fees Paid to Board Members Rs. 1,50,000

Fees paid to Audit Committee Members Rs. 30,000

Travelling Expenses of Board Members Rs. 16,44,880

Mr. P.R. Mishra (CEO) Rs. 22,78,371

Mr. Rajesh Kumar Choudhary (Asst. G.M.) Rs. 17,87,509

Mr. Uday Kumar (Manager IT) Rs. 18,38,894

In addition to above furnished house is provided to CEO,

Asst. G.M. and Manager IT.

12. The company has taken overdraft loan Rs. 325832

thousand from Nepal SBI Bank Ltd. against the security

of its Government Bonds and Rs. 90000 thousand from

H & B Development Bank Limited against fixed deposit

with same bank.

13. The company has obtained tax clearance certificate till

F.Y. 2068-69 and has not received any claim regarding

fines or interest due of previous year’s income tax and

no payments in this regard is made during the year. The

company has adjusted income tax payable up to F/Y

2063/64 amounting to Rs. 9369.10 thousand from

advance tax amount as per Income Tax Act 2058. Tax

payable and advance tax after F/Y 2063/64 is separately

shown as payable and receivable respectively.

14. The company has not refunded any premium during the

year.

15. The company has declared Vested Bonus up to 2069/

070 which is applicable as interim bonus till date

as follows:

ENDOWNMENT & JEEVAN ANAND POLICIES:

TERM YEAR 5-19 20-24 25-and above

BONUS RATE 61.00 65.00 75.00

MONEY BACK POLICIES:

TERM YEAR 15 20 25

BONUS RATE 61.00 62.00 63.00

100

CIL 12th ANNUAL REPORT12th ANNUAL REPORThLjg t/+u aLdfM

jif{ cjlw !) !% @)

af]g; b/ ^!=)) ^#=)) &@=))

af]g; b/ k|ltxhf/df nfu" x'g]5 .

!^= l9nf] aLdfz'Ns e'QmfgLdf lanDa z'Ns, aLdfn]vsf] lwtf]df

k|bfg ul/g] shf{, clestf{ / sd{rf/LnfO{ k|bfg ul/Psf]

shf{df sDkgLn] b]xfo adf]lhd Aofh b/ lgwf{/0f u/]sf] 5 .

l9nf] aLdfz'Ns e'QmfgLdf lanDj z'Nssf] Aofhb/ !)% k|ltjif{

aLdfn]vsf] lwtf]df lbOg] shf{sf] Aofhb/ !)% k|ltjif{

clestf{ shf{sf] Aofhb/ !)% k|ltjif{

sd{rf/L shf{sf] Aofhb/ &% k|ltjif{

!&= ckn]vg x'g af“sL vr{sf] ljj/0fM ;/sf/L C0fkqsf] vl/bdfe'QmfgL ul/Psf] lk|ldod /sdnfO{ ;f] C0fkqsf] e'Qmfgcjlwleq ckn]vg ul/g] gLlt /x]sf] 5 . of] /sdnfO cg';'rL @sf] nufgLdf gf]S;fg lzif{s cGt{ut b]vfOPsf] 5 .

!*= r'Qmf k"“hLdf o; cf=j= lgDg adf]lhdsf] km/s ePsf] 5M

z]o/ k"“hL cf=j= sf] z'? @,%),))) xhf/

af]g; z]o/ hf/L ul/Psf] !,%%,))) xhf/

s"n z]o/ k"“hL $,)%,))) xhf/

sDkgLn] xsk|b z]o/ hf/L ug]{ k|lqmofdf /x]sf] 5 . h;sf]s'n /sd ¿= !,)!,@%) xhf/ x'g]5 .

sDkgLn] aLdf ;ldltsf] lgb]{zg adf]lhd k|a4{sx?af6¿= *!))) xhf/ z]o/ k"“hL jfkt k|fKt u/]sf] 5 . o;jif{;Dd e'QmfgL k|fKt x'g af“sL (Call in arrears) / hkmtul/Psf t/ k'gM lgisfzg gul/Psf z]o/ s'n r'Qmf k'“hLdf/x]sf] 5}g .

!(= of] jif{ lnhxf]N8 ;DkQLdf s'g} /sd ckn]vg ul/Psf]5}g .

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

@!= ut jif{;Ddsf] c:jLs[t d[To' bfaLx?dWo] ¿= !#!=)^ nfva/fa/sf] d'To' bfaL dWo] k'g/fj]bg cbfnt kf6gdf Pp6fd'2f xfn larf/fwLg /x]sf]n] ¿= ! nfvnfO{ e'QmfgL x'gd[To'bfaL zLif{s cGtu{t /flvPsf] 5 .

JEEVAN TARANG POLICIES:

TERM YEAR 10 15 20

BONUS RATE 61.00 63.00 72.00

Bonus rates are applicable for per thousand.

16. The company has determined the interest rate on

late premium payment, loans against insurance

policies, agent’s and employee’s loans as follows:

Interest Rate on late payment of Premium 10% p.a.

Interest Rate on loans against Policies 10% p.a.

Interest Rate on Agent’s loans 10% p.a.

Interest Rate on Employees loans 7% p.a.

17. Details of expenses not written off: Premium paid on

acquisition of government securities (Investment) is

written off over the maturity period of investment. Amount

to be written off is disclosed in annexure 27.

18. Change in share capital during the year is as

below:

Share capital in the beginning of the year 250,000 thousand.

Issue of Bonus share 155,000 thousand

Total Share Capital 405,000 thousand

The company is in process of rights issue of shares

amounting to 101,250 thousand.

The company has received Rs.81000 thousand against

share capital as instructed by Beema Samiti. There are

no calls in arrears and forfeited shares in the total paid

up capital.

19. There is no amortization amount in leasehold property

up to this year.

20. There are no off Balance sheet transactions in this

financial year.

21. Out of Repudiated Death claim amount of Rs. 131.06

lakhs till 16.07.2013, one lakh has been made on

account of outstanding death claim as a case is pending

with Appellate Court, patan.

101


ljj/0f >fj0f !, @)^( o; jif{sf] cfiff9 #!, @)&)

sf] df}Hbft /sd sf] df}Hbft

:yug s/ ;DkQL -bfloTj_

;do leGgtfaf6 cfPsf] lx;fa

s_ l:y/ ;DkQL -!%^,%&)_ !)%,!^* -%!,$)@_

v_ :yug vr{ -%,!^#,^!$_ #,^)@,)*% -!,%^!,%@(_

u_ nufgL @,&@%,%%( ##&,(&% #,)^#,%#$

3_ pkbfg÷labf jfktsf] /sd ^^@,%)( -$@%,%#@_ @#^,(&&

v'b -bfloTj_ -!,(#@,!!^_ #,^!(,^(^ !,^*&,%*)

@@= s/M

@@=! :yug s/M o; jif{sf] cGTo;Dddf sDkgLsf] gfkmfgf ]S;fg lx;fadf :yug s/ ;DkQL afkt¿= !^,*&,%*) /sd n]vf°g ul/Psf] 5 . of] /sdlstfaL gfkmf / s/of]Uo gfkmfsf] ;dofGt/af6 x'gcfPsf] xf] h;sf] ljj/0f lgDgfg';f/ /x]sf] 5 .

:yug s/ bfloTj / ;DklQsf u0fgfM

@@=@ lalQo gfkmf / s/ of]Uo gfkmf larsf] lx;fa ldnfg

22. TAX

22.1 Deferred Tax: The Company has recognized

deferred tax assets amounting to Rs. 16,87,580/-

which resulted from the timing differences between

the Book Profit and Tax Profit, up to current year

ended Ashad 31, 2070 (July 15,2013) in Profit &

Loss Account, the details of which is as under:

Recognition of Deferred Tax Liability & Assets:

Particulars Balance as on Arising during Balance as at

Shrawan 1, 2069 the year Ashad 31, 2070

Deferred Tax Assets (Liabilities)

On account of timing difference in:

a) Fixed assets (156,570) 105,168 (51,402)

b) Deferred Expenditure (5,163,614) 3,602,085 (1,561,529)

c) Investment 2,725,559 337,975 3,063,534

d) Gratuity/Leave Encashment 662,509 (425,532) 236,977

Net (Liabilities) (1,932,116) 3,619,696 1,687,580

22.2 Reconciliation between Financial profit and

taxable profit:

Particulars Amount Amount

Surplus as per Revenue Account 3,151,701,549 -aaaaa

Add: Provision for Income Tax 104,232,958 3,255,934,508

Profit as per Profit and Loss Account 277,346,216 -aaaaa

Defferred Tax (2,298,010) 275,048,206

Surplus/Profit before Tax -aaaaa 3,530,982,714

Income Tax as per Financial Surplus/Profit -aaaaa 882,745,678

Tax diffrences as per Income Tax aaaaa aaaaa

Profit recognized from Life Fund -aaaaa (70,712,276)

Dividend from shares -aaaaa (491,005)

Depreciation -aaaaa (121,016)

Repairs and Maintenance -aaaaa -aaaaa

Provision for Loss -aaaaa (2,976,407)

Ammortization -aaaaa 66,123

Loss on purchase of investment -aaaaa 3,063,533

ljj/0f /sd /sd

cfo Joo lx;fasf] art 3,151,701,549 - .

hDdfM cfos/ Joj:yf 104,232,958 3,255,934,508

gfkmf gf]S;fg lx;fasf] gfkmf 277,346,216 - .

:yug s/ (2,298,010)

s/ clwsf] gfkmf 275,048,206

s/ of]Uo gfkmf lalto lja/0f adf]lhd - . 3,530,982,714

laQLo gfkmfdf cfos/ - . 882,745,678

cfos/ s/ adf]lhdsf] km/s .

hLjg ladf sf]ifaf6 ;f/]sf] gfkmf - . (70,712,276)

z]o/ nfef+; - . (491,005)

x|f; - . (121,016)

gf]S;fgLdf Joj:yf - . (2,976,407)

ckn]vg - . 66,123

nufgL vl/bdf g]S;fg - . 3,063,533

102


ljj/0f /sd /sd

bfloTj lg;u{af6 gf]S;fgL - . 3,492

s§L ug{ gkfpg] vr{ - . 102,980

rGbf - . 121,250

:yug nufgL lk|ldod - . (813,347)

aLdf z'Ns cfDbfgL 3,150,543,765 - .

af“sL bfjL Joj:yfdf kl/jt{g ( 9 4 6 , 3 2 8 )( 9 4 6 , 3 2 8 )( 9 4 6 , 3 2 8 )( 9 4 6 , 3 2 8 )( 9 4 6 , 3 2 8 ) - .

bfaL km5f}{6 e'QmfgL (327,859,992) - .

v'b cfDbfgL 2,821,737,445 - .

cfos/ ad]lhd 5'6 2,821,737,445 (705,434,361)

cfos/ ad]lhd km/s - . (777,191,034)

cfos/ ad]lhd v'b s/ - . 105 , 554 , 644105 , 554 , 644105 , 554 , 644105 , 554 , 644105 , 554 , 644

cfos/ Joj:yf - . - .

cfo Joo lx;fa 104,232,958 - .

gfkmf gf]S;fg lx;fa 13,321,686 105,554,644

k m / sk m / sk m / sk m / sk m / s - . (0.00)

@#= sd{rf/L cfjf; sf]ifM sDkgLn] sd{rf/Lx?nfO{ cfjf; shf{pknAw u/fpg z'? u/] klg k|rlnt >d P]g cg';f/ sd{rf/Laf;:yfg sf]if v8f ul/Psf] 5}g .

@$= sd{rf/L af]g;M sd{rf/Lx?sf] nfuL s/ of]Uo cl3sf]gfkmfaf6 @!)% af]g;sf] Aoj:yf ul/Psf] 5 .

@%= k"“hL ;DaGwL k|lta4tfM 5}g .

@^= k|lt z]o/ cfDbfgLM k|lt z]o/ cfDbfgLsf] u0fgf ¿= #!ul/Psf] 5, ut jif{ of] ¿= ̂ ( /x]sf] lyof] . ut jif{ # jif{sf]aLdf°Lo d"gfkmnfO{ ;dfj]z u/LPsf] lyof] / o; cf=j= b]lvaLdf ;ldltsf] lgb]{zfg';f/ jflif{s ?kdf klg aLdf°Lo d"Nof°gug{ ;Sg] ePsf]n] sDkgLn] ;f]lx adf]lhdsf] lglt lnPsf] 5 .

@&= cl3Nnf] jif{sf] c+sx? cfjZostf cg';f/ k'gjuL{s/0f tyfk'g;d'lxs/0f ul/Psf] 5 / c+sx?nfO{ lgs6td ?k}ofdfb]vfO{Psf] 5 .

Particulars Amount Amount

Loss from Disposal of Assets - aaa 3,492

Expenses Disallowed - aaa 102,980

Donation - aaa 121,250

Deferred Premium - aaa (813,347)

Premiun Income 3,150,543,765 -aaaaa

Change in provision for outstanding claim (946,328) -aaaaa

Claims Paid (327,859,992) -aaaaa

Net Income 2,821,737,445 -aaaaa

Allowed as per Income tax act 2,821,737,445 (705,434,361)

Tax diffrences as per Income Tax - aaa (777,191,034)

Net Tax as per Income Tax - aaa 105,554,644

Income Tax Provision - aaa -aaaaa

Revenue Account 104,232,958 -aaaaa

Profit and Loss Account 1,321,686 105,554,644

Difference 0

23. Staff Housing Fund: Since the Company has been

extending housing loan to its employees, provision for

staff housing fund as required by the labour Act has not

been made.

24. Staff Bonus: Staff bonus has been provided during the

year @10% on before tax profit.

25. Capital Commitment: Nil.

26. Earnings Per share: The Basic earnings per share have

been calculated as Rs.31 and previous year Rs. 69.

27. Re-grouping: Previous years figures have been

regrouped and rearranged, wherever necessary to make

them comparable with the figures of current year and

figures are shown in nearest Rupees.




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107


108


109


110


111


;fjlws aLdf of]hgfEndowment Plan

of] aLdf of]hgf hLag aLdfsf] >]0fLdf g} ;a} eGbf k|Voft aLdf of]hgf xf] o;n] g ls laldtsf] l56f] d[To'

ePsf]df laldtsf] kl/jf/sf] nflu /sdsf] Joj:yf u/]sf] a? cfjZostf k/]sf] pd]/df Psd'i7 /sd k|fKt

ug{ ;Sg] ul/ hf]xf] u/]sf] x'G5 . aLdf+s /sd, olb l56f] d[To' gePsf] sf/0f e'QmfgL gePdf aLdf ;dflKt

ldltdf e'QmfgL x'g]5 . of] of]hgf !) b]lv ^) jif{ pd]/ aLrsf] JolQmnfO{ pknJw x'g]5 . of] of]hgf jf]gz

;lxtsf] of]hgf xf] . aLdf of]hgfsf] cjlwleq w]/} k|sf/sf] ;'ljwfx? h:t} C0f ;'ljwf, 6d{ /fO8/ ;'ljwf,

b'3{6gf nfe ;'ljwf pknJw x'g]5 .

'S

aLdf ls/0fBima Kiran

aLdf ls/0f Pp6f o:tf] of]hgf xf] h; cGtu{t Go"gtd /sd e'QmfgL u/]]/ clwstd ;'/Iff k|fKt

ug{ ;lsG5 . laldtsf] d[To' ePsf] cj:yfdf aLdf° /sd k|bfg ul/g] 5 / aLdf kl/kSj ldltdf laldtn]

hDdf u/]sf] k'/} /sd lbOg] 5 . aLdf ;dfKtL ldlt kl5 klg laldtsf] aLdf° /sdsf] %) k|ltzt

a/fa/sf] hf]lvd axg x'g]5 . of] of]hgf pd]/ !% b]lv %% jif{sf JolQmx?sf] nflu dfq pknJw

x'g]5 .

'S

gfdn] l;kmfl/z u/] cg'?k g} of] of]hgf s]jn dlxnfx?sf] nflu dfq pknAw 5 . of] !% jif]{ aLdf of]hgf

xf] h;df aLdf k|f/De ePsf] tLg jif{ k"/f ePkl5 k|To]s jif{ aLdf° /sdsf] $ k|ltzt clu|d e'QmfgL aLdf

;dfKt gx'Gh]n lbOg] 5 . aLdf kl/kSj ldltdf aLdf°sf] %@ k|ltzt /sd / ;'lglZrt af]g; ;d]t lbOg]

5 . laldtsf] d[To' ePsf] cj:yfdf k'/} aLdf° /sd / af]g; lbOg] 5 h;df klxn] lbPsf] wglkmtf{ /sd

36fOg] 5}g . nuftf/ k'/f b'O{ jif{sf] aLdfz'Ns e'QmfgL u/]sf] cj:yfdf kl5Nnf] tLg jif{ aLdfz'Ns e'QmfgL

gePsf] cj:yfdf klg aLdf ;'/Iff sfod /xg] 5 . aLdfn]vsf] klxnf] kf“r jif{sf] nflu ? ^% k|lt xhf/sf

b/n] ;'lglZrt af]g; lbOg] 5 .

u[xnIdL aLdfGriha Laxmi

'S

111

C

I

L

!@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bg

xfd|f of]hgfx?xfd|f of]hgfx?

hLjg cfgGbJeevan Anand

hLjg cfgGb Pp6f o:tf] of]hgf xf] h;n] aLdfz'Ns e'QmfgL ug'{ kg]{ clGtd ldltsf] jif{ lbj;df k|bQ d'gfkmf ;lxt lgwf{l/t aLdf° k|bfgug]{ 5 / laldt JolQmsf] d[To' geP;Dd aLdf hf]lvd axg ug]{5 .

e'QmfgL kfpg] cj:yfx?

hLljt nfe -6d{ ;dflKt kl5_M d"n aLdf° /sdsf] ;fy cflh{t d'gfkmf .

d[To'nfes_ ;fjlws aLdf cjlw leqM aLdf° /sd / ;f]af6 cflh{t d'gfkmf ;lxt e'QmfgL .v_ ;fjlws aLdf cjlw kZrft\M aLdf° a/fa/sf] /sd k'gM OR5fO{Psf] JolQmnfO{ e'QmfgL ul/g] .

d'gfkmfM ;fwf/0f l/e;{gu/L d'gfkmf /sd aLdfz'Ns e'QmfgL ug'{kg]{ cjlwe/ a[l4 x'“b} hfg] 5 .

jfG5gLo of]Uotf tyf cj:yfx?Go"gtd pd]/ k|j]zdf – !^ jif{ -k"/f ePsf]_clwstd pd]/ k|j]zdf – ^% jif{ -hGdlbg glhs_

clwstd pd]/ clGtd aLdfz'Nse'QmfgL ug'{ kg]{ ;dodf – &) jif{ -hGdlbg glhs_aLdfz'Ns e'QmfgL ug]{ cjlw – % b]lv @% jif{clwstd ;fjlws cjlw – @% jif{Go"gtd aLdf° – ¿= !,)),)))÷– / To;kl5

¿= !),)))÷– xhf/sf] u'0ffdf x'g]5 .clwstd aLdf° – s'g} aGb]h 5}g . -cf+lzs hf]lvdf°gsf] cfwf/df_

'S

afn aLdf of]hgfChildren's Plan

Pn=cfO=;L= -g]kfn_ ln= n] @ j6f laZj;gLo afn aLdf of]hgf -afn ddtf – #$) / afn :g]x – #$!_ wglkmtf{ tyf ;'lglZrt yk ljz]iftf

;dfj]z ePsf] of]hgf k|:t't u/]sf] 5 . of] of]hgf pd]/ ) jif{b]lv !) jif{;Ddsf afnaflnsfx?sf] nflu

pknAw /x]sf] 5 / laldtsf] pd]/ @) jif{ k'/f ePsf] jif{ lbjzdf aLdf kl/kSj x'g]5 . afn ddtf of]hgf

cGtu{t aLdfz'Ns e'QmfgL ug'{ kg]{ cjlw !^ jif{ /x]sf] 5 eg] afn :g]xdf @) jif{ . oL b'j} of]hgfdf aLdf°

/sdsf] @% k|ltzt laldtsf] pd]/ !^ / !* jif{ k'/f ePsf] jif{ lbjzdf k|bfg ul/g] 5 eg] %) k|ltzt /sd

@) jif{ k'/f ePsf] jif{ lbjzdf k|bfg ul/g] 5 . o;n] afnaflnsfsf] ljleGg cTofjZos ;dosf] lglDt

/sdsf] hf]xf] ul/Psf] x'G5 . ;'lglZrt yk d'gfkmf ?= ^% k|lt jif{ k|lt xhf/sf] b/n] aLdf ;dfKtL ldltdf

k|bfg ul/g] 5 . b'ef{Uojz laldtsf] d[To' ePdf klxn] lbPsf] ls:tf /sd g36fO{ aLdf° /sd k|bfg ul/g]

5 . o; of]hgf cGtu{t olb aLdf cjlwdf k|:tfjssf] d[To' ePdf af“sL aLdfz'Ns e'QmfgL ug{ gkg]{, aLdfz'Ns

ldgfx nfe ;d]t k|fKt ug{ ;lsg] k|fjwfg /x]sf] 5 .

'S

112

CIL !@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bg

hLjg t/·Jeevan Tarang

;'lglZrt\ jflif{s k]G;g k|bfg ug]{ d'gfkmf ;lxtsf] o; of]hgfn] aLdfsf] cjlw !), !% / @) jif{ kZrft\ laldtsf] pd]/ !)) jif{k'u'Gh]n ;Dd aLdf°sf] % k|ltzt /sd k]G;gsf] ?kdf k|bfg ub{5 . aLdfn]vn] cfh{g u/]sf] lgodfg';f/sf] d'gfkmf /sd aLdf;dflKt ldltdf jf ;f] cufj} laldtsf] d[To' ePdf lbOg]5 . ;fy} aLdf° /sd / yk Loyalty olb ePdf, laldtsf] pd]/ !)) jif{k'/f eP kl5sf] aLdf jif{ lbjzdf jf ;f] ldlteGbf cufj} d[To' ePdf lbOg]5 .

k|d'v ljz]iftfx?{ aLdfz'Ns cfk"mn] /f]h]sf] cjlwleq ltg{ ;lsg] -!) jif{, !% jif{ jf @) jif{_ .{ aLdf e'QmfgL cjlwe/ aLdf° /sd / ;+lrt af]g; ;lxtsf] hf]lvd axg .{ aLdf e'QmfgL cjlwsf] ;dflKtkl5 Psd'i7 af]g; k|fKt x'g] .{ aLdf e'QmfgL cjlwsf] ;dflKtkl5 aLdf° /sd a/fa/sf] lgMz'Ns hf]lvd axg x'g] .{ aLdf e'QmfgL cjlwsf] ;dflKtkl5 aLdf°sf] %% /sd aflif{s ?kdf hLjge/ k]G;g :j?k k|fKt x'g] .

'S

e'QmfgL kfpg] cj:yfx?{ aLdf ;dflKt ldltdf lgodfg';f/sf] d'gfkmf /sd,{ aLdf ;dflKt ldlt kl5 k|To]s aLdf jif{ lbjzdf aLdf°sf]

%% /sd,{ laldt pd]/ !)) jif{ k'/f kl5sf] aLdf jif{ lbjzdf aLdf° /sd .

d[To' ePsf] cj:yfdf{ aLdf ;dflKt ldlt jf ;f] ldlt cufj} laldtsf] d[To' ePdf aLdf° / lgodfg';f/sf] d'gfkmf /sd,{ aLdf ;dflKt ldlt kl5 laldtsf] d[To' ePdf aLdf° /sd .

jfG5gLo of]Uotf tyf cj:yfx?Go"gtd pd]/ k|j]zdf – !% jif{ -k"/f ePsf]_clwstd pd]/ k|j]zdf – ^) jif{ -hGdlbg glhs_

clwstd pd]/ clGtd aLdfz'Nse'QmfgL ug'{kg]{ ;dodf – &) jif{ -hGdlbg glhs_aLdfz'Ns e'QmfgL ug]{ cjlw – !) b]lv @) jif{Go"gtd aLdf° – ¿= !,)),)))÷– /

To;kl5÷¿= !),)))÷–xhf/sf] u'0ffdf x'g] 5 .

clwstd aLdf° – ¿= Ps s/f]8

wglkmtf{ of]hgfMoney Back Plan

wglkmtf{ of]hgf cGtu{t aLdf° /sdsf] lglZrt k|ltzt ;do cjlwsf] cGt/fndf laldtnfO{ lkmtf{ lbOg]

5 . of] aLdfsf] laz]iftf eGg' g} aLdf cjlw leq olb laldtsf] d[To'' ePsf] v08df k'/} aLdf°

/sd -;do cjlwsf] cGt/fndf Survival Benefit afkt lkmtf{ ul/Psf] /sd g36fO{_ af]gz ;lxt k|bfg

ul/g] 5 . ;fy} af]gzsf] u0fgf ;d]t k"/f aLdf°sf] nflu ul/g]5 . Pn=cfO=;L= -g]kfn_ ln= n] wglkmtf{

cGtu{t % k|sf/sf] of]hgfx? -##$, ##%, ##^, ##&, ##(_ k|:t't u/]sf] 5 . h; cGtu{t km/s k|sf/sf]

;do cjlw / km/s km/s k|ltzt survival benefit sf] ;'ljwf /xg]5 .

'S

113


hLjg cf:yfJeevan Astha

o; of]hgfsf] ljz]iftfx?

{ Ps k6s dfq aLdfz'Ns a'emfpg' kg{] of]hgf .

{ nufgLstf{sf] cfjZostf k"/f ug{ ;'lglZrt nfe k|bfg ug{] of]hgf .

'S

jfG5gLo of]Uotf tyf cj:yfx?

Go"gtd pd]/ k|j]zdf – !) jif{ -k"/f ePsf]_clwstd pd]/ k|j]zdf* – ^) jif{ -hGdlbg glhs_

Go"gtd aLdf° – ¿= @%,)))÷– / To;kl5¿= %,)))÷– sf] u'0ffdf x'g]5 .

clwstd pd]/ aLdf° – hf]lvdf°gsf] qmddf ljz]if k|:tfasf]nflu aLdf° Ps s/f]8;Dd lbg ;lsg] .

*hGdlbg glhssf], cfwf/df pd]/sf] u0fgf ug]{ .

;'lglZrt yk

o; of]hgf cGtu{t ;'lglZrt\ yk tn pNn]lvt b/df k|bfg ul/g]5 .

s_ # jif]{ cjlwsf] nflu ¿= *)÷– k|lt jif{ k|lt xhf/ aLdf°sf] .

v_ % jif]{ cjlwsf] nflu ¿= *%÷– k|lt jif{ k|lt xhf/ aLdf°sf] .

Single

Premium

;'lglZrtyk nfe

pRr hf]lvdaxg

lgDg z"Nsdfhf]lvd axg

shf{ /;dk{0f ;'ljwf

;a} of]hgfx?sf] nflu Pp6f of]hgf – afn ;fjlws of]hgf{ afnaflnsfnfO{ rfxgf cg';f/sf] nIo xfl;nsf nflu cfPsf] of]hgf{ h:tf];'s} kl/l:yltdf klg eljiosf] ;kgf k'/f ug{ ;xof]uL x'g]bz jif{ jf ;f] eGbf sd pd]/sf afnaflnsfx?sf] nflu gof“ afn ;fjlws -d'gfkmf ;lxtsf]_ of]hgf

cg'kd ljz]iftfx?

S

{ cToGt Go"g aLdf z"Ns b/ { aRrfsf] ;+/lIft Pj+ ;'/lIft eljiosf] nflu { k|lt jif{ af]g; { b'O{ jif{kl5C0f pknAw x'g ;Sg] { % jif{sf] pd]/kl5 aRrfsf] hf]lvd k|f/De x'g] { k|:tfjssf] d[To' ePdf lk|ldodz"Ns a'emfpg gkg]{ { aLdf cjlwsf] ;fgf]÷yf]/} /sdn], cfdfa'afn] cfkm\gf] aRrfsf] nflu b]v]sf] ;kgf;'/lIft agfpg] Uof/]G6L -k|Tofe"lt_ lbg] .

o; of]hgfsf nflu rflxg] of]Uotfx?

Go"gtd clwstdk|j]z pd]/ ) jif{ -kl5Nnf] hGdlbgdf_ !) jif{ -kl5Nnf] hGdlbgdf_kl/kSj x'g] pd]/ @) jif{ -hGdlbg glhsdf_ $% jif{ -hGdlbg glhsdf_aLdf cjlw !% jif{ #% jif{aLdf° /sd ¿= %),))) ¿= %) nfv -?= %))) sf] u'0fgdf_

afn ;fjlws of]hgfChild Endowment Plan

'

114

CIL !@cf}+ jflif{s k|ltj]bg!@cf}+ jflif{s k|ltj]bg

hLjg ;/nJeevan Saral

of]hgfsf cfsif{s ljz]iftfx?{ aLdf axg, aLdf cjlw Pj+ aLdfz'Ns sd u/fpg ldNg] ;'ljwf,{ ;dfg aLdf°sf] nflu ;dfg aLdfz'Ns – aLdfz'Ns pd]/df cfwfl/t x'g],{ kl/kSjtf hlxn] klg ug{ ldNg] aLdf cjlwsf] :jtGqtf,{ ca laldtsf] c;fdlos d[To'df s]jn aLdf° / af]g; /sd dfq xf]Og, aLdfz'Ns -k|yd jif{

afx]s_ klg lkmtf{ x'g],{ aLdfz'Ns klg ;'/lIft,

{ s]jn C0f ;'ljwf dfq x}g, cf+lzs wglkmtf{ ;'ljwf klg,{ hDdf ePsf] /sddf OR5fg';f/sf] wglkmtf{ ug{ ;lsg],{ lk|ldod z'Ns ¿= @%)÷– k|lt dlxgfaf6 z'? x'g]5 .

'S

afG5gLo of]Uotfx?{ Go'gtd k|j]z pd]/ – !^ jif{ k"/f{ clwstd k|j]z pd]/ – -^% jif{ – aLdf cjwL_{ aLdf cjlw ;dflKtdf clwstd cfo' – ^%

jif{{ cjlw M % b]lv #) jif{;Dd{ dlxnf / k'?if b'a}sf] nflu{ $( jif{ pd]/;Ddsf] nflu Go'gtd dfl;s

aLdfz'Ns ¿= @%) / %) jif{ jf ;f]eGbfdflysf pd]/sf] nflu Go'gtd dfl;saLdfz'Ns ¿= $))

{ aLdfz'Nssf] dflyNnf] ;Ldf sfod 5}g, hltklg /fVg ldNg]

;'ljwfx?;dk{0f{ kl/kSj aLdf° /sdsf] *)%, olb @ jif{sf] aLdfz'Ns e'QmfgL ePsf]df,{ kl/kSj aLdf° /sdsf] ()%, olb $ jif{sf] aLdfz'Ns e'QmfgL ePsf]df,{ kl/kSj aLdf° /sd – olb % jif{sf] aLdfz'Ns e'QmfgL ePsf]df –

kl/kSjtf,{ % jif{eGbf sdsf] nflu – pQm pd]/df % jif{sf] kl/kSj aLdf°

/sdaf6 u0fgf x'g] .shf{{ @ jif{sf] aLdfz'Ns e'QmfgL ePkl5 pknAw x'g],{ shf{ /sd ;dk{0f d"Nosf] ()% ;Dd k|fKt x'g] .cltl/Qm lasNk{ b'3{6gf nfe÷czQmtf nfe÷6d{ /fO8/ pknAw .

115


j}b]lzs /f]huf/ of]hgfForeign Employment Plan

'S

!*–#% jif{ #^–%) jif{ %!–^$ jif{ ^% jif{ eGbf dflyaLdf cjlw pd]/ ;d"x

! jif{@ jif{# jif{$ jif{% jif{

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

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

#,%))%,)))^,^))*,#))

!),)))

aLdsn] lgwf{/0f u/] adf]lhd

gf]6 Note

116


TABLE of CONTENTSljifo ;"rL

of

jf;nft /

Balance Sheet

;+rfns ;ldltsf] k|ltj]bg /

Directors' Report8-17n]vfk/LIfs sf] k|ltj]bg /

Auditor's Report19-20 21-22gfkmf gf]S;fg lx;fa /

Profit & Loss Account23-24Plss[t cfo Joo lx;fa /

Consolidated Revenue Account25-26;fjlws hLjg aLdfsf] cfo Joolx;fa / Revenue Account of

Endowment Policy27-28

jflif{s ;fwf/0f ;ef ;DaGwL ;"rgf1;fwf/0f ;ef ;DaGwL ;fdfGohfgsf/L2

cWoIfåf/f k|:t't k|ltj]bg /

Chairman's Message5-7

clu|d e'QmfgL ;fjlws hLjg aLdfsf]cfo Joo lx;fa / Revenue Account of

Anticipated Endowment Policy29-30?kfGtl/t ;fjlws hLjg aLdfsf]cfo Joo lx;fa / Revenue Account of

Modified Endowment Policy31-32cfhLjg hLjg aLdfsf] cfo Joolx;fa / Revenue Account of Whole

Life Policy33-34DofbL hLjg aLdfsf] cfo Joolx;fa / Revenue Account of

Term Policy35-36

ljz]if DofbL hLjg aLdfsf] cfoJoo lx;fa / Revenue Account of

Special Term Policy37-38cGo hLjg aLdf -Psn aLdfz'Ns_sf] cfo Joo lx;fa / Revenue Account

of Other Policy (Single Premium)39-40gub k|jfxsf] ljj/0f /

Cash Flow Statement41-42OSo"6Ldf ePsf] kl/jt{g ;DaGwLljj/0f / Details of Changes in Equity43-44

cg';"rLx? /

Schedules45-106aLdf ;ldtsf] ;xdlt kq /

Approval Letter of Beema Samiti107

k|j]z–kq

z]o/wgLsf] gfd M »»»»»»»»»»»»»»»»»»»»»»»z]o/ k|df0f–kqdf pNn]lvt kl/ro g+= ……………………z]o/ ;+Vof ……………… ldlt @)&) ;fn kmfNu'g @^ ut], ;f]daf/sf lbg x'g] nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf] afx|f}+jflif{s ;fwf/0f ;efdf pkl:yt x'g hf/L ul/Psf] k|j]z–kq .

………………………z]o/wgLsf] b:tvt

b|i6Jo M -!_ z]o/wgL cfk}mn] vfnL sf]i7x? eg'{xf]nf . -@_ ;ef sIfdf k|j]z ug{ of] k|j]z–kq k|:t't ug'{ clgjfo{ 5 .

ljgf]bs'df/ e'h]nsDkgL ;lrj

k|f]S;L–kmf/fd

>L ;+rfns ;ldlt,nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf7df8f}+ Knfhf, sf7df8f}+ .dxfzo,

»»»»»»»»»» lhNnf »»»»»»»»»»» g=kf=÷uf=lj=;= »»»»»»»»»»»»» j8f g+= ………a:g] d÷xfdL »»»»»»»»»»»»»»»»»»»»»»»»»»»»»» n] To; sDkgLsf] z]o/jfnfsf] x}l;otn]@)&) ;fn kmfNu'g @^ ut], ;f]daf/sf lbg x'g] afx|f} jflif{s ;fwf/0f ;efdf :jo+ pkl:yt eO{ 5nkmn tyf lg0f{odf ;xefuL x'g g;Sg]ePsf]n] pQm ;efdf efu lng tyf dtbfg ug{sf nflu »»»»»»»» lhNnf »»»»»»» d=g=kf=÷uf=lj=;=»»»»»»»»»» j8f g+= ……… a:g] To; sDkgLsf z]o/wgL >L »»»»»»»»»»»»»»»»»»»» nfO{d]/f]÷xfd|f] k|ltlglw dgf]lgt u/L k7fPsf] 5'÷5f}+ .

k|f]S;L lng]n] eg]{ M

b:tvtM– …………………………………………gfdM– ……………………………………………7]ufgfM– …………………………………………z]o/ k|df0f–kq g+=M– ……………………………ls=g+= ………………… b]lv ………………;Ddz]o/ ;+VofM– ……………………………………ldltM– ……………………………………………

lgj]bs -k|f]S;L lbg]n] eg]{_ M

b:tvtM– …………………………………………gfdM– ……………………………………………7]ufgfM– …………………………………………z]o/ k|df0f–kq g+=M– ……………………………ls=g+= ………………… b]lv ………………;Ddz]o/ ;+VofM– ……………………………………ldltM– ……………………………………………

"

b|i6Jo M -!_ PseGbf a9L k|f]S;Lsf] gfd pNn]v u/]df kmf/fd /2 x'g]5 . -@_ k|f]S;L lgo'Qm ePsf] b/vf:t /lhi68{ sfof{nodf ;ef x'g$* 306f cl3 btf{ ul/;Sg' kg{] 5 .

-ef/tLo hLjg aLdf lgudsf] ;+o'Qm nufgLdf :yflkt_sf7df8f}+ Knfhf, sf7df8f}+, kmf]g M $–!^*%#&

-ef/tLo hLjg aLdf lgudsf] ;+o'Qm nufgLdf :yflkt_sf7df8f}+ Knfhf, sf7df8f}+, kmf]g M $–!^*%#&


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