sDkgL P]g, @)^# cGtu{t ;+:yflkt / ;+rflnt

an]kmL xfO{8«f]kfj/ lnld6]8 -BALEPHI HYDROPOWER LTD.)

sf=d=g=kf= - !@, 6]s", sf7df08f}, g]kfn,
kmf]g g=)!–%()%))# km\ofS; g+= )!-%()%))$,
Od]nM info.balephi@gmail.com j]e;fO6M =www=balephihydro.com
sf]
-lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g, @)^# sf] bkmf @# cGtu{t k|sflzt_

ljj/0f-kq
sDkgLn] cfof]hgf k|efljt If]qsf :yflgo afl;Gbf tyf ;j{;fwf/0fx?sf] nflu ;fj{hlgs lgisfzgsf] nflu 5'§ofPsf] cfkm\gf] hf/L k"FhL ?=!,*@,&(,&),))).– -cIf/]kL Ps ca{
aof;L s/f]8 pgfgc;L nfv ;Q/L xhf/ dfq_ dWo] !)% cyf{t ?=!*,@&,(&,)))/- -cIf/]kL c7f/ s/f]8 ;tfO; nfv ;GtfgAa] xhf/ dfq_ /sd a/fa/ k|lt z]o/ c+lst d"No
?=!))/- b/sf] !*,@&,(&) lsQf cfof]hgf k|efljt If]qsf :yflgo afl;Gbfx?sf] nflu / afFsL /x]sf] !) k|ltzt cyf{t ?=!*,@&,(&,)))/- -cIf/]kL c7f/ s/f]8 ;tfO; nfv
;GtfgAa] xhf/ dfq_ a/fa/sf] k|lt z]o/ c+lst d"No ?=!))/- b/sf] !*,@&,(&) lsQf ;fwf/0f z]o/x? dWo] &#,!!( -k"0f{ c+sdf kl/0ft u/] kZrft_ lsQf cyf{t s'n
lgisfzgsf] $Ü z]o/ sDkgLsf sd{rf/Lx?nfO{ / (!,#(* -k"0f{ c+sdf kl/0ft u/] kZrft_ lsQf cyf{t s'n lgisfzgsf] %Ü z]o/ ;fd"lxs nufgL sf]ifsf] nflu ;'/lIft ul/Psf]
/ afFsL !,^^#,$%# lsQf z]o/ ;j{;fwf/0fsf nflu lgisfzg ul/Psf] 5 .
pBf]u k|efljt If]qdf lgisfzg ubf{ o; sDkgLsf] jftfa/0fLo k|efj d"NofÍg k|ltj]bg adf]lhdsf] l;Gw'kfNrf]s lhNnfsf] cfof]hgfaf6 k|efljt If]qx? qmdzM h'un
ufpFkflnsf j8f g+= @, # / $ -;fljssf] uf]Nr] uf=lj=;=, u'Daf uf=lj=;= / kfªtfª uf=lj=;=_ sf nflu ^) k|ltzt cyf{t !),(^,&*@ lsQf / cfof]hgfsf] !#@ s]=le= k|zf/0f
nfOgaf6 k|efljt If]qx? qmdzM h'un ufpFkflnsfsf] j8f g+= % / &, an]kmL ufpFkflnsfsf] j8f g+ !, #, ^ / & / ;'gsf]zL ufpFkflnsfsf] j8f g+= & sf nflu $) k|ltzt
cyf{t &,#!,!** lsQf x'g] u/L z]o/ lgisf;g ul/g] 5 . ;fy} cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?sf nflu 5'§fOPsf] z]o/ ;Dk"0f{ ljqmL gePdf ljqmL geP a/fa/sf]
z]o/ ;d]t ;dfof]hg u/L ;j{;fwf/0f -;fd"lxs nufgL sf]if tyf sDkgLsf sd{rf/Lx?df ;d]t_ df lgisf;g ul/g] 5 .
b/vf:t;fy k|lt z]o/ ?=!))÷— sf] b/n] -ztk|ltzt e'QmfgL dfu ul/Psf]_
sDkgLsf] ljut tyf cfufdL tLg jif{sf] jf:tljs tyf k|If]lkt ljQLo ljj/0f :
jf:tljs cf=j=)&*.&( kf}if k|If]lkt
ljj/0f d;fGt;Ddsf] ckl/is[t
cf=j=)&%.&^ cf=j=)&^&& cf=j=)&&&* ljQLo ljj/0f cf=j=)&*.&( cf=j=)&(.*) cf=j=)*).*!
k|lt z]o/ g]6jy{ -?=_ 93.75 93.92 93.64 93.57 84.68 98.99 101.74
k|lt z]o/ cfDbfgL -?=_ (0.47) (0.39) (0.28) (0.07) (10.23) 14.31 17.75
;l~rt d'gfkmf÷-gf]S;fg_ -?= xhf/df_ (83,215) (88,959) (93,034) (94,018) (279,988) (18,378) 31,830
k|lt d]ufjf6 nfut ;DjlGw ljj/0f M
sDkgLsf] k|If]klt ljQLo ljj/0f cg';f/ lgdf{0f cjlwsf] Aofh;lxt k|lt d]ufjf6 nfut ? 212,665,263=43-cg'dflgt lgdf{0f ;DkGg ldlt @)&*÷!!÷!& ut] sfod ePsf]]_ tyf s'n nfut ?= 7,655,949,483=00 /x]sf] 5 .
gf]6 sDkgLn] lgdf{0f ul//x]sf] cfof]hgfsf] l;len lgdf{0f sfo{ sDkgLn] cfkm}n] ub}{ /x]sf] / lgdf{0f sfo{sf] nfuL cfjZos lgdf{0f pks/0f / d]lzgx? nufot cGo l:y/ ;DktL ;d]t vl/b u/]sf] / To:tf pks/0fsf] nfut
?=@$.%^ s/f]8 ;d]t cfof]hgf ;Da4 vr{ ePsf] cfwf/df cfof]hgfsf] lgdf{0f vr{df u0fgf ul/Psf] 5 .
ljB't pTkfbg cg'dltsf] afFsL cjlw ;DjlGw ljj/0f M
Ohfhtkq jxfn /xg] cjlw ldlt @)&#÷)$÷!@ b]lv @!)*÷)$÷!! ;Dd hDdf #% jif{ /x]sf]df ca afsL cjlw #) jif{ & dlxgf /x]sf] 5 .
nufgL lkmtf{ x'g] cjlw -Pay Back Period_ ;DjlGw ljj/0f M
;fwf/0f nufgL lkmtf{ x'g] cjlw (Pay Back Period) &=%$ jif{ / l8:sfpG6df nufgL lkmtf{ x'g] cjlw (Discounted Pay Back Period) !$=!) aif{ /x]sf] 5 .
hnljB't cfof]hgfsf] s"n nfut
hnljB't cfof]hgfsf] s"n cg'dflgt nfut ?= 7,655,949,483=00 /x]sf] 5 .
gf]6 sDkgLn] lgdf{0f ul//x]sf] cfof]hgfsf] l;len lgdf{0f sfo{ sDkgLn] cfkm}n] ub}{ /x]sf] / lgdf{0f sfo{sf] nfuL cfjZos lgdf{0f pks/0f / d]lzgx? nufot cGo l:y/ ;DktL ;d]t vl/b u/]sf] / To:tf pks/0fsf] nfut
?=@$.%^ s/f]8 ;d]t cfof]hgf ;Da4 vr{ ePsf] cfwf/df cfof]hgfsf] lgdf{0f vr{df u0fgf ul/Psf] 5 .
nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0f M
lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"Nof+sg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisf;g d"Non] ;"rLs/0f kZrft lwtf]kq ahf/df x'g] sf/f]af/
d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf u -*_ k]h gM !% / !^ df pNn]lvt hf]lvdx? ;d]tsf] cWoog u/]/ dfq nufgL ;DalGw lg0f{o lng ;'emfj ul/G5 .
lgodg lgsfosf] hjfkmb]xLtf g/xg] pb\3f]if0f M
o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisfzgsf nflu tof/ ul/Psf] xf] . o; ljj/0fkqnfO{ lwtf]kq ;DaGwL P]g , @)^# adf]lhd g]kfn lwtf]kq af]8{n] :jLs[lt k|bfg u/]sf] 5 . o;/L
af]8{n] ljj/0fkq :jLs[lt k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no jf ;Dj4 cGo lgodg lgsfon] ljj/0fkqdf pNn]lvt s'/fsf] ;Totf jf lgisfzgstf{
jf cfof]hgfsf] cfly{s ;Ifdtfsf] af/]df s'g} k|sf/sf] k|Tofe"\t u/]sf] jf lhDd]jf/L lnPsf] dflgg] 5}g .
o; ljj/0fkq dfkm{t lgisfzg ePsf z]o/x? dWo] cfof]hgf k|efljt If]qsf afl;Gbfx?sf] nflu laqmL ljt/0f u/]sf] z]o/ tyf ;j{;fwf/0fsf nflu lgisfzg u/]sf] z]o/ dWo] sd{rf/Lx?nfO{
5'§ofOPsf] z]o/ afF+8kmfF+6 ePsf] ldltn] tLg aif{ k"/f geP;Dd laqmL ljt/0f jf x:tfGt/0f ug{ kfOg] 5}g .
O:o'/ /]l6Ë ;DaGwL ljj/0f M
o; ljj/0fkq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# -t];|f] ;+zf]wg ;lxt_ df ePsf] Joj:yf adf]lhd sDkgLsf] O:o'/ /]l6Ë u/fpg' kg]{
ePsf]n] qm]l86 /]l6Ë lgodfjnL, @)^* sf] lgod # adf]lhd g]kfn lwtf]kq af]8{af6 cg'dlt k|fKt qm]l86 /]l6Ë ;+:yf O{qmf g]kfn ln=, l8NnLahf/, sf7df08f}+af6 O:o'/ /]l6Ë u/fO{ æ[ICRANP-
IR] BB” (pronounced ICRA NP Issuer Rating Double B)Æ k|df0fkq k|fKt u/]sf] 5 . æ[ICRANP-IR] BB” n] sDkgLsf] bfloTj jxg ug]{ Ifdtfdf cf};t hf]lvd /x]sf]
-Moderate risk of default regarding timely servicing of financial obligations_ eGg] a'lemG5 . O{qmf g]kfn ln=n] ICRANP-IR AAA b]lv ICRANP-IR D ;Ddsf] /]l6Ë
k|bfg ub{5 . h;df /]l6Ë æICRANP-IR AAAÆ n] Highest degree of Safety Regarding Timely Servicing of Financial Obligation hgfpF5 eGg] æICRANP-IR DÆ n] Default
or are Expected to be in Default soon eGg] hgfpF5 .
O:o'/ /]l6Ë u|]8 k|bfg u/]sf] ldlt M @)&*.)(.)! -tbg';f/ l8;]]Dj/ !^, @)@!_ axfn /xg] cjlw @)&(.)*.@& -tbg';f/ l8;]]Dj/ !#, @)@@_
ljB't lgodg cfof]usf] k"j{ :jLs[lt ;DjGwL ljj/0f M o; lgisfzgnfO{ ljB't lgodg cfof]un] ldlt @)&&÷!!÷!^ ut] r=g+= #*% k=;+= )&&÷)&* af6 k"j{ :jLs[lt k|bfg u/]sf] 5 .
g]kfn lwtf]kq af]8{af6 ljj/0fkqdf :jLs[lt k|fKt ldlt @)&*÷!)÷)(= sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ldlt @)&*÷!)÷!#
lwtf]kq lgisf;g v'Nnf x'g] ldlt
lgisf;g v'Nnf x'g] ldlt M @)&*/!)/@& lgisf;g aGb x'g] ldlt -l56f]df_ M @)&*/!!/!@ lgisf;g aGb x'g] ldlt -l9nf]df_ M @)&*/!!/@&
lwtf]kq lgisf;g tyf laqmL k|aGws M

Unf]an cfO{PdO{ SofkL^n lnld^]*

j*f g+= 1, nId)f afa' ejg, gS;fn, sf&df)*f}+ .
kmf]gM 4545649,4545650 ˆofS; g+= 4545702
Email: info@gicl.com.np; Web: www globalimecapital.com
o; æljj/0f-kqÆ lwtf]kq lgisf;g tyf laqmL k|aGwssf] website:www.globalimecapital.com, an]kmL xfO{8«f]kfj/ lnld6]8sf] website:www.balephihydro.com. /
g]kfn lwtf]kq af]8{sf] website:www.sebon.gov.np af6 ;d]t x]g{ ;Sg' x'g]5 .
v=!= ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiff M
-s_ æljj/0fkqÆ eGgfn] lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g, @)^# sf] bkmf @# cGtu{t k|sflzt ljj/0fx? ePsf]
k'l:tsfnfO{ ;Demg' kb{5 .
-v_ ælwtf]kq lgisf;g tyf laqmL k|aGwsÆ eGgfn] Unf]an cfOPdO{ SofkL6n ln=nfO{{ ;Demg' kb{5 .
-u_ æsDkgLÆ eGgfn] lgisf;gstf{ sDkgL an]kmL xfO8«f]kfa/ lnld6]8nfO{ ;Demg' kb{5 .
-3_ æsDkgLsf sd{rf/Lx?Æ eGgfn] an]kmL xfO8«f]kfa/ lnld6]8sf kbflwsf/Lx? nufotsf sd{rf/Lx? ;Demg' kb{5 .
-ª_ æ;+sng s]Gb|Æ eGgfn] ;fj{hlgs lgisf;gsf] nflu tof/ ul/Psf] ljj/0fkq / b/vf:t kmf/d k|fKt ug{ ;lsg] tyf b/vf:t kmf/d
;fy /sd a'emfpg ;lsg] u/L tf]lsPsf ;+:yfx?nfO{{ ;Demg' kb{5 .
-r_ ælgisf;g a}+sÆ eGgfn] ;fj{hlgs lgisf;gaf6 ;+sng x'g cfPsf] /sdnfO{ hDdf ug{sf] nflu tf]lsPsf] a}+snfO{ ;Demg' kb{5 .
-r_ ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{ / sDkgL /lhi6«f/sf] sfof{no, ljB't lgodg cfof]unfO{ ;Demg' kb{5 .
-5_ æ;+:yfksÆ eGgfn] an]kmL xfO8«f]kfa/ lnld6]8sf] ;+:yfks z]o/wgLnfO{ ;Demg' kb{5 .
-h_ æ;~rfnsÆ eGgfn] an]kmL xfO8«f]kfa/ lnld6]8sf] ;~rfnsnfO{ ;Demg' kb{5 .
-´_ æsfo{sf/L k|d'vÆ eGgfn] an]kmL xfO8«f]kfa/ lnld6]8sf] k|d'v sfo{sf/L clws[tnfO{ ;Demg' kb{5 .
-`_ æAoj:yfkgÆ eGgfn] an]kmL xfO8«f]kfa/ lnld6]8sf] Aoj:yfkgnfO{ ;Demg' kb{5 .
-6_ æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{{ ;Demg' kb{5 .
-7_ æ:yflgojf;LÆ eGgfn] cfof]hgf k|efljt If]q qmdzM h'un ufpFkflnsf j8f g+= @, # / $ -;fljssf] uf]Nr] uf=lj=;=, u'Daf uf=lj=;= /
kfªtfª uf=lj=;=_ If]qx? / cfof]hgfsf] !#@ s]=le= k|zf/0f nfOgaf6 k|efljt If]qx? qmdzM h'un ufpFkflnsfsf] j8f g+= % / &,
an]kmL ufpFkflnsfsf] j8f g+= !, #, ^ / & / ;'gsf]zL ufpFkflnsfsf] j8f g+= & df :yfoL a;f]jf; ug]{ Pj+ lgisf;gstf{ sDkgLn]
sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] cl3Nnf] ldlt;Dd ;f]xL :yfgdf a;fO{ ;/fO{ u/L cfPsf g]kfnL gful/s ;d]tnfO{
hgfpF5 .

v=@ ljj/0fkq tyf b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M

ljj/0fkq k|fKt ug{ ;Sg] :yfg

l;=g+= sDkgLsf] gfd / 7]ufgf j]e;fO6

!= lwtf]kq lgisf;g tyf laqmL k|aGws >L Unf]jn cfOPdO{ SofkL6n lnld6]8, j8f g+=!, nId0f www.globalimecapital.com
afa' ejg, gS;fn, sf7df8f}+ .

@= an]kmL xfO{8«f]kfj/ lnld6]8, j8f g+= !@, 6]s," sf7df08f} . www.balephihydro.com

;fy} g]kfn lwtf]kq af]8{sf] j]e;fO6 www.sebon.gov.np af6 ;d]t o; lgisfzgsf] nflu :jLs[t ljj/0fkq x]g{ ;Sg' x'g]5 .

cfof]hgf k|efljt If]qsf nflu b/vf:t kmf/fd k|fKt ug]{ / b/vf:t a'emfpg] :yfgx? M

:yfgLo afl;Gbfx?sf] lgisf;g tyf ljqmL v'Nnf ul/bf lgDgfg';f/sf ;+sng s]Gb|x?af6 b/vf:t a'lem lng] Aoj:yf ldnfOPsf] Aoxf]/f cg'/f]w 5 .
!= s'df/L a}+s lnld6]8, hnlj/] zfvf, l;Gw'kfNrf]s .
@= Pg=l;=l;= a}+s lnld6]8, 9fF8] zfvf, l;Gw'kfNrf]s .
#= Unf]an cfOPdO{ a}+s lnld6]8, rf}tf/f zfvf, l;Gw'kfNrf]s .
$= nIdL a}+s lnld6]8, rf}tf/f zfvf, l;Gw'kfNrf]s .
%= nIdL a}+s lnld6]8, vf8Lrf}/ zfvf, l;Gw'kfNrf]s .

cfjZostf cg';f/ :jLsl[t lnP kl5 cGo ;+sng s]Gb|x? yk ug{ ;lsg]5 . ;fy} g]kfn lwtf]kq af]8{sf]
ldlt @)&%÷!)÷)& sf] lgb]{zg adf]lhd cfof]hgf k|efljt If]qsf :yflgoaf;Lx?n]
P]lR5s ?kdf cf:jf (ASBA) k|0ffnL dfkm{t cfj]bg lbg ;Sg] 5 .
b/vf:t kmf/d k|fKt ug{sf nflu ?=@÷–-b'O{ ?k}of_ k|lt b/vf:t z'Ns a'emfpg' kg]{5 .

;j{;fwf/0fsf] nflu b/vf:t kmf/fd k|fKt ug]{ / b/vf:t a'emfpg] :yfgx? M M

g]kfn lwtf]kq af]8{af6 cg'dlt lnO{ cf:jf (ASBA) ;]jfdf ;xefuL a}s tyf ljQLo ;+:yfx?af6 ;Lcf:jf (CASBA) k|0ffnL dfkm{t cfj]bg lbg
;lsg]5 .
u=!=lwtf]kq lgisf;g tyf laqmL k|aGwssf] pb\3f]if0f M

xfdLnfO{ lgisf;gstf{ ;+ul7t ;+:yf tyf o;sf ;+:yfks/;~rfnsx¿n] pknAw u/fPsf] ljj/0f tyf hfgsf/Lx?sf] cfwf/df o; ;+:yfsf]
Joj:yfksLo, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6 xfdL ;Gt'i6 x'g'sf] ;fy} ljj/0fkqdf n]lvPsf cfly{s ljj/0fx¿ / cGo
hfgsf/L tYout, k"0f{ / ;xL b]lvPsfn] nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng d2t k'Ug] s'/fk|lt ljZj:t eO{ xfdLn] of] ljj/0fkq
:jLs[ltsf nflu g]kfn lwtf]kq af]8{df lwtf]kq ;DaGwL P]g, @)^# / lwtf]kq btf{ tyf lgisf;g lgodfjnL, @)&# cg'?ksf] of]Uotf k'u]sf]
k|lta4tfkq -Due Diligence Certificate_ k|:t't u/]sf 5f}+ .

u=@=;+ul7t ;+:yfsf] pb\3f]if0f M

u=@=s= ;~rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M

of] ljj/0fkq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf hfgsf/Lx?sf ;fy} lgisf;g tyf
laqmL k|aGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf sfuhftx?sf ;Totf / z'4tf k|lt / lwtf]kq btf{ tyf lgisf;g
cg'dlt k|of]hgsf nflu g]kfn lwtf]kq af]8{df k]z ul/Psf] ljj/0fkq / ;f] ;Fu ;DalGwt cGo ljj/0f tyf hfgsf/Lx?sf] z'4tf tyf
;Totfk|lt o; ljj/0fkqdf x:tfIf/ ug]{ xfdL ;~rfnsx? AolQmut jf ;fd"lxs ?kdf hjfkmb]lxtf axg ub{5f}+ / lwtf]kq lgisf;gsf nflu
tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{ xfdL of] pb\3f]if0f ub{5f}+ sL tf]lsPsf zt{ tyf cfjZostfx? ;a}
kfngf u/]sf 5f}+ / nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .

u=@=v= ;+ul7t ;+:yfsf] hjfkmb]lxtf ;DaGwL pb\3f]if0f M

o; an]kmL hnljB't sDkgL lnld6]8n] k|sflzt u/]sf] ljj/0fkq, ;fj{hlgs k|:tfj, lj1fkg jf cGo s'g} ;"rgfdf pNn]v ePsf ljj/0f
afx]s ;+ul7t ;+:yfsf] af/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf] hjfkmb]xLtf ;+ul7t ;+:yfdf g/xg] / To:tf] ;"rgf, hfgsf/L jf
ljj/0fsf] cfwf/df nufgL u/]df ;f] sf] hf]lvd nufgLstf{ :jo+n] axg ug'k{ g]{5 .

u=@=u= lgodg lgsfosf] lgodg Aoj:yfsf] kfngf ;DaGwL pb\3f]if0f M

k|rlnt sfg'g cg';f/ cfkm\gf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t}M sDkgL /lhi6«f/sf] sfof{no, g]kfn lwtf]kq af]8{
cflb_ sf] ;fj{hlgs lgisf;g tyf cGo lgodg Joj:yf tyf lgb]{zgx?sf] kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f} +. ;fy} ;fj{hlgs lgisf;g
k|of]hgsf] nflu tof/ ul/Psf] ljj/0fkq / ;f] df plNnlvt ;Demf}tf jf cGo ljj/0fx? g]kfn lwtf]kq af]8{ / sDkgL /lhi6«f/sf] sfof{nodf
k]z u/]sf 5f} +. ;fy} sDkgL /lhi6«f/sf] sfof{nodf cf=j= @)&%.&^ ;Ddsf] ljj/0fx? k]z u/L pQm sfof{nosf] ldlt @)&&.)*.!^ sf]
lg0f{ofg';f/ o; sDkgL cf=j= @)&%.&^ ;Ddsf] nflu cWofjlws ul/Psf] 5 .

u=@=3= ;+:yfks, ;~rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

-!_ o; ;+ul7t ;+:yfsf] ;+:yfks, ;~rfns jf sfo{sf/L k|d'v shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x]sf 5}gg\ .

-@_ o; ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;~rfns jf sfo{sf/L k|d'v /x]sf 5}gg\ .

-#_ ;fj{hlgs lgisf;g dfkm{t ;j{;fwf/0faf6 k"FhL ;+sng u/L a]kQf ePsf jf ;+rfngdf g/x]sf jf nufgLstf{x¿sf] lxt ljk/Lt x'g]
sfo{ u/]sf] ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o; sDkgLsf] ;~rfns jf sfo{sf/L k|d'v 5}gg\ .

-$_ lwtf]kq ;DaGwL sfg'g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Aoj;foLsf] cg'dltkq vf/]h ePsf] bz jif{ k"/f gePsf]
;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v o; sDkgLsf] ;~rfns jf sfo{sf/L k|d'v 5}gg\ .

-%_ o; ;+ul7t ;+:yfsf] ;~rfns jf sfo{sf/L k|d'v lwtf]kq ;DaGwL P]g, @)^# sf] bkmf !)* adf]lhd ;~rfns jf sfo{sf/L k|d'v cof]Uo
/x]sf 5}gg\ .

1
u=#= ;+ul7t ;+:yf ;DaGwL hfgsf/L M
u=#=s= ;+ul7t ;+:yfsf] k[i7e"ld M
-s_ ;+:yfsf] gfd M an]kmL xfO{8«f]kfj/ lnld6]8 (BALEPHI HYDROPOWER LIMITED)
-v_ ;+:yf s'g P]g cGtu{t :yflkt ePsf] ;f] s'/f M sDkgL P]g, @)^# cGtu{t :yflkt .
-u_ ;+:yfsf] /lhi68{ 7]ufgf M o; sDkgLsf] /lhi68{ sfof{no sf7df08f} dxfgu/kflnsf j8f g+= !@, 6]s,' sf7df08f}, g]kfndf /x]sf] 5 .
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sf7df08f} / sDkgL cGtu{t lgdf{0ffwLg an]kmL xfO{8«f]kfj/ cfof]hgf l;Gw'kfNrf]s lhNnf, l;Gw'kfNrf]s lhNnf h'un uf=kf= j8f g+= @, #
/ $ -;fljssf] uf]Nr], u'Daf / kfªtfª uf=lj=;=_ If]qx?df kb{5 .
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sDkgLsf] :yfkgfsfnb]lv xfn;Ddsf] ;+lIfKt Oltxf; b]xfo adf]lhd /x]sf] 5 M

-!_ g]kfndf /x]sf] ckf/ hn>f]tsf] pkof]u u/L hnljB't cfof]hgfx?sf] klxrfg u/L ;+efJotf cWoog, lgdf{0f / ;+rfng ug]{ x]t'n] an]kmL
xfO{8«f]kfj/ lnld6]8 ldlt @)&#.)(.@@ ut] sDkgL /lhi6«f/sf] sfof{nodf klAns lnld6]8 sDkgLsf] ?kdf btf{ eO{ sf/f]af/ ;+rfng ub{}
cfPsf] sDkgL xf] .
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z]o/, !) k|ltzt cfof]hgf k|efljt If]q l;Gw'kfNrf]s lhNnf, h'un uf=kf= j8f g+= @, # / $ -;fljssf] uf]Nr], u'Daf / kfªtfª
uf=lj=;=_ / cfof]hgfsf] !#@ s]=le= k|zf/0f nfOgaf6 k|efljt If]qx? qmdzM h'un ufpFkflnsfsf] j8f g+= % / &, an]kmL ufpFkflnsfsf]
j8f g+= !, #, ^ / & / ;'gsf]zL ufpFkflnsfsf] j8f g+= & tyf !) k|ltzt ;j{;fwf/0f -sDkgLsf sd{rf/Lx? ;d]t_ z]o/wgLx?sf] nflu
56\ofO{ afF8kmfF6 ug]{ Joj:yf /x]sf] 5 .
-#_ ;+ul7t ;+:yfn] @)&@ d+;L/ @( df g]kfn ljB't k|flws/0f;Fu ljB't vl/b ljqmL ;Demf}tf u/]sf] 5 . To:t} lgdf{0f sfo{ k'j{sf d'Vo sfo{
k|flKtx? M !_ cfof]hgf ;e]{If0f cg'dlt k|fKt ldltM @)^%÷)^÷!%, @_ jftfj/0fLo k|efj d"NofÍg k|ltj]bg :jLs[t ldltM @)&@÷)@÷@(
tyf k'/s jftfj/0fLo k|efj d"NofÍg k|ltj]bg :jLs[t ldltM @)&&÷)&÷@% #_ ljB't pTkfbg cg'dlt kq k|fKt ldlt @)&#÷)$÷!@,
$_ ljB't vl/b ljqmL ;Demf}tf ldlt @)&@÷)*÷@( / %_ ljB't pTkfbg cg'dlt axfn /xg] cjlw @!)*÷)$÷!! ;Dd /x]sf] 5 .
-$_ #^ d]ufjf6 Ifdtfsf] dflyNnf] jn]kmL–P hnljB't cfof]hgfsf] lgdf{0f sfo{ e}/x]sf] / l;Gw'kfNrf]s lhNnfsf] jn]kmL vf]nf hnljB't
pTkfbgsf] nflu cfjZos k|d'v hn;|f]tsf] ?kdf /x]sf] 5 .
-%_ cfof]hgfsf] ;+lIfKt k|fljlws ljj/0fx? lgDgfg';f/ /x]sf] 5M
cfof]hgf :ynM l;Gw'kfNrf]s lhNnf, h'un ufpFkflnsf j8f g+=@, # / $ -;fljssf] uf]Nr], u'Djf /
kfªtfª uf=lj=;=_
>f]t gbL M jn]kmL vf]nf
cfof]hgfsf] lsl;d M /g ckm l/e/
l8hfOg l8:rfh{ M @#=% 3g ld6/ k|lt ;]s]08
pTkfbg x'g] OghL{ M @!@=*# luufjf6 306f ljB'tzlQm
cfof]hgfsf] pTkfbg IfdtfM #^ d]ufjf6
u|; x]8M @)& ld6/
8fOe;{g afFwM nDafO{ %! ld6/, prfO{ * ld6/, rf}8fO{ !@=%& ld6/
l8:ofG8LË j]l;gM !!% ld6/ nDafO{ !@ ld6/ rf}8fO{ !)=! ld6/ prfO{
x]8/]; 6g]n $@(% ld6/ nDafO{, Jof; #=$ PdPd b]lv $=! PdPd;Dd
;tx k]g:6sM nDafO{ #() ld6/, Jof; #=) ePsf] / !@ PdPd b]lv #@ PdPd;Dd
;tx kfj/xfp;M nDafO{ %( ld6/, rf}8fO{ !$ ld6/, prfO{ @@=%^ ld6/
6jf{Og # j6f k|fGl;;, xf]l/h]G6n, &%) rpm, !@ d]ufjf6
h]g]/]6/M !$=$^ MVA Per Unit (Three unit),&%) rpm, %) Hz
pTkfbg z'? x'g] ldltM @)&*÷!!÷!&
cfof]hgfsf] xfnsf] cg'dflgt nfutM ?=&,^%%,($(,$*#=))
cfof]hgfsf] nfut lgdf{0f cjlwsf] Aofh afx]s M ?=^,##),$!(,@!*=))
cfof]hgfsf] nfut lgdf{0f cjlwsf] Aofh ;lxt M ?=&,^%%,($(,$*#=))
cfof]hgfsf] ;fwf/0f nufgL lkmtf{ x'g] cjlw M &=%$ jif{
cfof]hgfsf] l8isfpG6df nufgL lkmtf{ x'g] cjlw M !$=!) jif{
Net Present Value (NPV) M !,*&$,%@%,$*^=%)
InternalRateofReturnofProject(IRR) M !@=&$Ü

cfof]hgfsf] gub k|jfxnfO{ !)% k|lt jif{sf] b/n] l8:sfpG6 u/L NPV u0fgf ul/Psf] 5 . h; cGtu{t shf{ / k'FhLsf] /sdnfO{ z'?
jif{df alx{udg dflgPsf] 5 eg] ljlQo vr{nfO{ alx{udg dflgPsf] 5}g . To;} u/L cfof]hgfsf] cfGtl/s k|ltkmn b/ -IRR) u0fgf ubf{
cfof]hgf cjlwe/df k|jfx x'g] gubsf] cg'dfgsf cfwf/df ul/Psf] 5 . o4lk cfof]hgfsf lgdf{0f sfo{sf] nfuL vl/b ul/Psf] t/
cfof]hgfsf] ;~rfng sfo{;Fu ;DalGwt gePsf] ;DklQsf] lg;u{af6 k|fKt x'g] ;Sg] gub tyf a}slNkt k|of]uaf6 k|fKt x'g] ;Sg]
gubnfO{ NPV tyf IRR sf] u0fgfdf ;dfj]z ul/Psf] 5}g . sDkgLsf] ljlQo kl/;'rs NPV ?=!,*&$,%@%,$*^=%) tyf IRR
!@=&$% /x]sf] 5. cf=a= @)&*÷&( nfO{ cfwf/ aif{ dfgL tL; aif{sf] k|f]h]S;g u/LPsf] . g]kfn /fi6« a}+sn] Valuation k|of]hgsf] nflu
tf]ss] f] k|s[ofnfO{ cfwf/ dfgL sDkgLsf] tL;f}+ aif{sf] gub k|afxnfO{ Discount Rate n] efu ul/ cfpg] gub k|afxnfO{ Terminal
Value dfgL Net Present Value (NPV) tyf Internal Rate of Return (IRR) u0fgf ul/Psf] .
Net Present Value (NPV) tyf Internal Rate of Return (IRR) u0fgf ljlw tyf tl/sf M

2
 1. NPV = Net Cash In Flowt1 / (1+r)t1 + Net Cash In Flowt2 / (1+r)t2 + … Net Cash In Flowtn / (1+r)tn -
Net Cash Out Flowt0 / (1+r)t0

where,
r = Discount rate
t = Number of time periods

2. IRR= Ct - C0

(1+r)t
where,
Ct = Net cash inflow during the period
C0= Total initial investment costs
r = Discount rate
t = Number of time periods
cfof]hgfsf] NPV tyf IRR u0fgf b]xfo adf]lhd ul/Psf] 5 .
?= xhf/df
gub k|afx pQm jif{ ;Ddsf] v'b Discount l8;sfp06 ul/Psf] v'b l8;sfp06 ul/Psf] pQm jif{
v'b gub k|afx
x'g] jif{ gub k|afx Factor @10% gub k|afx ;Ddsf] v'b gub k|afx
2079 (7,655,949,483.33) (7,655,949,483.33) 1.00 (7,655,949,483.33) (7,655,949,483.33)

2079 198,738,318.96 (7,457,211,164.37) 0.9091 180,673,005.77 (7,475,276,477.56)

2080 1,053,382,256.84 (6,403,828,907.53) 0.8265 870,620,435.28 (6,604,656,042.29)

2081 1,084,506,134.93 (5,319,322,772.60) 0.7514 814,897,909.79 (5,789,758,132.50)

2082 1,116,724,341.60 (4,202,598,431.00) 0.6831 762,834,397.75 (5,026,923,734.75)

2083 1,147,253,581.50 (3,055,344,849.50) 0.621 712,444,474.11 (4,314,479,260.64)

2084 1,178,452,311.12 (1,876,892,538.37) 0.5645 665,236,329.63 (3,649,242,931.01)

2085 1,208,759,113.59 (668,133,424.78) 0.5132 620,335,177.10 (3,028,907,753.91)

2086 1,235,471,730.61 567,338,305.83 0.4665 576,347,562.33 (2,452,560,191.58)

2087 1,253,925,513.41 1,821,263,819.24 0.4241 531,789,810.24 (1,920,770,381.35)

2088 1,251,063,014.16 3,072,326,833.40 0.3855 482,284,791.96 (1,438,485,589.39)

2089 1,159,736,734.42 4,232,063,567.83 0.3505 406,487,725.42 (1,031,997,863.97)

2090 1,151,539,751.16 5,383,603,318.98 0.3186 366,880,564.72 (665,117,299.25)

2091 1,146,707,057.32 6,530,310,376.30 0.2896 332,086,363.80 (333,030,935.45)

2092 1,144,900,244.38 7,675,210,620.68 0.2633 301,452,234.34 (31,578,701.11)

2093 1,015,346,975.98 8,690,557,596.66 0.2394 243,074,066.05 211,495,364.94

2094 928,417,282.89 9,618,974,879.55 0.2176 202,023,600.76 413,518,965.70

2095 926,602,690.24 10,545,577,569.80 0.1978 183,282,012.13 596,800,977.83

2096 924,728,260.23 11,470,305,830.03 0.1798 166,266,141.19 763,067,119.02

2097 922,790,604.32 12,393,096,434.35 0.1635 150,876,263.81 913,943,382.83

2098 920,786,479.57 13,313,882,913.92 0.1486 136,828,870.86 1,050,772,253.69

2099 918,599,412.92 14,232,482,326.85 0.1351 124,102,780.69 1,174,875,034.38

2100 916,336,295.06 15,148,818,621.91 0.1228 112,526,097.03 1,287,401,131.41

2101 914,114,274.10 16,062,932,896.01 0.1116 102,015,152.99 1,389,416,284.40

2102 911,813,650.44 16,974,746,546.45 0.1015 92,549,085.52 1,481,965,369.92

2103 909,431,482.85 17,884,178,029.30 0.0923 83,940,525.87 1,565,905,895.79

2104 906,964,831.15 18,791,142,860.45 0.0839 76,094,349.33 1,642,000,245.12

2105 904,290,498.86 19,695,433,359.30 0.0763 68,997,365.06 1,710,997,610.18

2106 897,975,995.65 20,593,409,354.96 0.0694 62,319,534.10 1,773,317,144.28

2107 895,238,065.08 21,488,647,420.03 0.0631 56,489,521.91 1,829,806,666.19

2107 780,621,219.04 22,269,268,639.07 0.0574 44,807,657.97 1,874,614,324.16

IRR 12.74%

NPV 1,874,525,486.50

cfof]hgfsf] NPV tyf IRR u0fgfsf cfwf/ tyf tl/sf M

!= z'? jif{df ;~rfngaf6 k|fKt ePsf] gub k|afx Ps jif{eGbf sd cjlwsf] /x]sf] 5 .
@= lgdf{0f ;DkGg ePsf] jif{df lgdf{0f cjlwdf ePsf] Aofh vr{ ;d]t ;Dk0f{ kl/of]hgf ;Da4 vr{nfO{ gubsf] alx{udg dflgPsf] 5 eg]
;f] kZrftsf] Aofh vr{nfO{ kl/of]hgfsf] gub k|afxsf] alx{udg dflgPsf] 5}g . z]o/wgLx?Aff6 k|fKt x'g] z]o/ k"FhL / lghx?nfO{
3
 k|fKt x'g] gubsf] cfwf/df IRR uf0fgf ul/Psf] 5}g .
#= kl/of]hgf lgdf{0f ePkl5 x'g] dd{tsf] vr{ k'lhs/0f ul/Psf] 5}g .
$= IRR sf] u0fgfsf] nfuL lnOPsf] gub k|jfx cg'dfgx?df lge{/ /x]sf] 5 .

;+ul7t ;+:yf / g]kfn ljB't k|flws/0fsf aLr ;DkGg ljB't vl/b–laqmL ;Demf}tfsf d'Vo–d'Vo aF'bfx¿ lgDgadf]lhd /x]sf 5g\ .
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ePsf] 5 . pQm ;Demf}tf adf]lhd g]kfn ljB't k|flws/0fn] Aofkfl/s pTkfbg z'? x'g] ldltb]lv x/]s dlxgf sDkgLn] cfof]hgfaf6 ljB't
zlQm pTkfbg u/L pknAw u/fPsf] sG6«ofS6 OghL{sf] kl/df0f;Ddsf] phf{ vl/b jfkt jiff{ ofddf k|lt ls=jf= 306f ?=$.*) -rf/
?k}of c;L k};f dfq_ / ;'Vvfofddf k|lt ls=jf= 306f ?=*.$) -cf7 ?k}of rfln; k};f_ ljB't vl/b b/n] x'g cfpg] /sd sDkgL jf
bkmf #$ cg';f/sf] cu'jf a}+s jf ljQLo ;+:yfnfO{ a'emfpg]5 . ;fy} Jofkfl/s pTkfbg z'? x'g] ldltaf6 Ps jif{ k'u]sf] dlxgfsf] nuQ}
kl5sf] dlxgf b]lv nfu' x'g] ul/ jif{sf] # -tLg_ k|ltztsf b/n] * -cf7_ k6s;Dd ;fwf/0f d"Noa[l4 lbO{ lgDg tflnsf cg';f/ ljB't
phf{ v/Lb b/ sfod ul/Psf] 5 .
cjlw -Jofkfl/s pTkfbg z'? x'g] ldlt (COD) sfod ePsf] dlxgf v'Vvf ofd -kf}ifb]lv r}q;Dd jiff{ ofd -a}zfvb]lv
nuQ} kl5sf] dlxgfnfO{ klxnf] dlxgf dfgL cjlw u0fgf x'g] ul/_ ?= k|lt o'lg6_ dfu{;Dd ?=k|lt o'lg6_
klxnf] dlxgf b]lv !@ cf}+ dlxgf;Dd *.$) $.*)
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*.() %.)(
#& cf} dlxgf b]lv $* cf}+ dlxgf;Dd
(.!^ %.@#
$( cf} dlxgf b]lv ^) cf}+ dlxgf;Dd
(.$! %.#*
^! cf} dlxgf b]lv &@ cf}+ dlxgf;Dd
(.^^ %.%@
&# cf} dlxgf b]lv *$ cf}+ dlxgf;Dd
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!).$@ %.(%
t/ Aofkfl/s pTkfbg z'? x'g'kg]{ ldltsf] t'ngfdf Aofkfl/s pTkfbg z'? x'g] ldlt l9nf] x'g uPdf ljB't phf{ v/Lb b/ lgDgfg';f/
jflif{s d"Noj[l4 lbO{ sfod ul/g]5 M
s_ Aofkfl/s pTkfbg z'? x'g'kg]{ ldltsf] t'ngfdf Aofkfl/s pTkfbg z'? x'g] ^ ldlxgfeGbf a9L !* dlxgf;Dd l9nf] x'g ePdf hDdf &
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j6f dfq d"No j[l4 lbOg]5 .
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dfq sDkgLn] k|flws/0fnfO{ e'QmfgL ug]{5, jf ;f] /sd dfl;s ljlnËdf ;dfof]hg ul/g]5 .
-$_ Jofkfl/s pTkfbg z'? ug'{ kg]{ ldlt cufj} cfof]hgfsf] lgdf{0f tyf k/LIf0f sfo{ ;DkGg ePdf k|flws/0fn] cfkm\gf] Existing u|L8
k|0ffnLdf k|jfx x'g ;Sg] ;Ddsf] ljB't phf{ cfjZostf cg';f/ Dispatch Instruction hf/L u/L cfof]hgfaf6 lng ;Sg]5 . o;/L ljB't
lnP afkt bkmf @ / # df tf]lsPdf] d"Nodf k|flws/0fn] sDkgLnfO{ e'QmfgL ug]{5 .
-%_ sDkgLsf] k|lt d]ufjf6 nfut /sd lgdf{0f calwsf] Aofh ;d]t ?= 212,665,263.43 /x]sf] 5 eg] nufgLsf] Payback Period 7=54
aif{ / Discounted Payback Period 14=10 aif{ /x]sf] 5 .

xhf{gf ;DjlGw ljj/0f

k|flws/0fn] k|To]s dlxgf cfof]hgfaf6 sG6«ofS6 OghL{sf] kl/df0f ;Ddsf] Availability Declaration cg';f/ OghL{ v/Lb u/L lng]5 . o; cg';f/
k|flws/0fn] lng' kg]{ phf{ Forced Outage sf] sf/0fn] lng g;s]df jf Dispatch Instruction sf] sf/0fn] glnPdf cg';"lr # sf] k|fjwfg cg';f/
k|flws/0fn] sDkgLnfO{ Ifltk"lt{ ltg{' kg]{5 .

4
sG6«ofS6 OghL{sf] jf Availability Declearation sf] cfwf/df u0fgf -!_k|flws/0fn] k|To]s dlxgf cfof]hgfaf6 sG6«ofS6 OghL{sf] kl/df0f
;Ddsf] x'g] dfl;s phf{ dWo] h'g 36L 5 ;f] sf] *) -c;L_ k|ltzteGbf sd gx'g] u/L k|To]s dxLgf sDkgLn] cfof]hgfaf6 ljB't pTkfbg
u/L k|flws/0fnfO{ ljB't cfk"lt{ ug'{kg]{5 . k|flws/0fsf] sf/0f jf Schedule Outage jf cfsl:ds dd{t ;Def/ jf sfj" jflx/sf] kl/l:yltsf]
sf/0f afx]s cGo sf/0fn] o;/L tf]lsPsf] kl/df0f;Ddsf] ljB't sDkgLn] cfk"tL{ ug{ g;s]df jf gu/]df lgDg z'q cg';f/ sDkgLn]
k|flws/0fnfO{ Ifltk"lt{ :j?k /sd e'QmfgL ug'{kg]{5 .
Ifltk"lt{ /sd ?=
= (0.8 x;f] dlxgf sDkgLaf6 k|flws0fnfO{ cfk"lt{ ug'{kg]{ j9Ldf sG6«ofS6 OghL{;Ddsf] Availability Declaration cg';f/sf] ljB't
phf{ - ;f]xL dlxgfdf sDkgLn] pknAw u/fPsf] phf{ – ;f]xL cjlwdf k|flws/0fsf] sf/0fn] jf Scheduled outage jf cfsl:ds dd{t
;Def/ jf sfj" jflx/sf] kl/l:ytLsf] sf/0fn] cfof]hgfaf6 pknAw x'g g;s]sf] phf{) x ;f] dlxgfsf] k|lt lsnf]jf6 306f ljB't phf{
vl/b b/
o;/L lx;fj ubf{ Ifltk"lt{ /sd C0ffTds ePdf Ifltk'lt{ /sdnfO{ z"Go dflgg]5 . Ifltk"lt{ /sd ljn /sdeGbf a9L ePdf ljn /sd
eGbf a9L ePsf] Ifltk'lt{ /sd sDkgLn] k|flws/0fnfO{ ltg'{kg]{ 5}g .
o:tf] Ifltk"lt{ /sd k|flws/0fn] lansf] e'QmfgL lbFbf s§f ug{ ;Sg]5 .
-@_ k|flws/0fn] sDkgLnfO{ jf sDkgLn] k|lws/0fnfO{ Ifltk"lt{ ltg]{ Aoj:yf cfof]hgfaf6 Aofkfl/s pTkfbg z'? x'g] ldltb]lv nfu' x'g]5.

cfof]hgfsf] ljleGg sfo{x?sf] ldlt @)&* df3 !$ ut];Ddsf] sfo{k|ult ljj/0f lgDgfg';f/ /x]sf] 5 M

qm=;+= ljj/0f sfo{ k|ult k|ltzt

! cfwf/e't lgdf{0f sfo{
k|j]z dfu{ lgdf{0f ;DkGg !))
sDkgL tyf 7]s]bf/sf] cfwf/e"t l;len ;+/rgf ;DkGg !))
lgdf{0f
@= l;len lgdf{0f sfo{
af+w, l8;]G8/, cG8/:n'O; tyf OG6]s u]6 lgdf{0f r/0fdf !))
;+/rgfx?
x]8/]; 6g]n lgdf{0f lgdf{0f r/0fdf !))
;h{ 6}+s lgdf{0f ;DkGg !))
k]g:6s kfOksf] nflu l;len lgdf{0f sfo{ lgdf{0f r/0fdf !))
el6{sn zfˆ6 lgdf{0f lgdf{0f r/0fdf !))
ljB't u[x, sG6«f]n ?d tyf 6]n/]; lgdf{0f r/0fdf !))
l:jrof8{ lgdf{0f sfo{ (Sending end and Receiving lgdf{0f r/0fdf !))
end)
ljB't u[x ;+/If0f sfo{ lgdf{0f r/0fdf !))
#= xfO8«f] d]sflgsn sfo{
k]g:6s kfOksf] pknlAw tyf 8]lne/L ;DkGg !))
;Dk"0f{ u]6sf] pknlAw tyf 8]lne/L ;DkGg !))
jfOkms]{zg tyf PskfG;g HjfOgsf] 8]lne/L ;DkGg !))
k]g:6s kfOk h8fg lgdf{0f r/0fdf !))
u]6 h8fg lgdf{0f r/0fdf !))
jfOkms]{zg tyf HjfOG6 h8fg ;DkGg !))
$ On]S6«f]d]sflgsn sfo{
d]lzg tyf pks/0f pknlAw tyf 8]lne/L 8]lne/L qmddf !))
ljB't u[x–pks/0f h8fg h8fg qmddf !))
% !#@ s]=le=k|;f/0f nfOg sfo{
;fdfg pknlAw tyf 8]lne/L lgdf{0f r/0fdf !))
6fj/sf] hu lgdf{0f lgdf{0f r/0fdf !))
6fj/ h8fg sfo{ lgdf{0f r/0fdf (^
6fj/sf] nflu hUuf k|fKtL tyf k|;f/0f nfOgsf] lgdf{0f r/0fdf ((
/fO6 ckm j] df kg]{ hUufsf] Ifltk"tL{ ljt/0f
k|;f/0f nfOg tfGg] sfo{ lgdf{0f r/0fdf (#

k|;f/0f nfOgsf] lgdf0f{ l:ylt tyf ;a:6]zgsf] kl5Nnf] cj:yf M

o; sfo{sf nflu >L Urja-AC JV, Lalitpur, Nepal ;Fu ldlt l8;]Da/ !^, @)!^ df 7]Ssf ;Demf}tf eO{ ldlt l8;]Da/ @^,
@)!^ df sfo{ z'? ePsf] 5 . o; cGtu{t ljB'tu[xsf] :jLrof8{ b]lv g]kfn ljB't k|flws/0fsf] k|:tfljt afx|lj;] !#@ s]=
eL ;a :6]zg;Dd sl/a @! ls=dL= k|;f/0f nfOg / ;f] ;Fu ;DalGwt pks/0fx¿sf] l8hfOg, lgdf{0f, ;KnfO{, k/LIf0f /
sld;lgË sfo{x¿ kb{5 .
xfn;Dd k|;f/0f nfOg sfo{ cGtu{t cfof]hgfsf] sfof{Gjogsf] cj:yf lgDgfg';f/ 5M

5
 g]kfn ljB't k|flws/0f;Fu ldlt @)^(.)^.)( df Grid Connection Agreement ;DkGgÙ ldlt @)&^.)%.!) df >L phf{
dGqfnoaf6 ljB't k|;f/0fsf] ;j]{If0fsf] cg'dlt kq k|fKt u/L Detailed Route Alignment Survey with Tower Spotting
sf] sfo{ ;DkGg eO{ k|;f/0f nfOgsf] Topographical Mapping / Design sfo{ ;DkGgÙ k|;f/0f nfOgsf] / ;f] ;+u ;DalGwt
pks/0fx¿sf] l8hfOg, lgdf{0f, ;KnfO{, k/LIf0f / sld;lgË sfo{x¿sf] nflu ldlt l8;]Da/ !^, @)!^ df >L Urja
International Pvt Ltd, Lalitpur, Nepal ;+u 7]Ssf ;Demf}tf ;DkGgÙ 7]s]bf/af6 Tower x?sf] Design & Fabrication sf]
sfo{ ;DkGgÙ >L phf{, hn>f]t tyf l;+rfO{ dGqfnoaf6 k|;f/0f nfOg cfof]hgfsf] k|f/lDes jftfj/0fLo k|ltj]bg ldlt
@)&^.)!.!# df :jLs[t ePsf]Ù o; cfof]hgfnfO{ >L phf{, hn>f]t tyf l;+rfO{ dGqfnocGtu{tsf] ljB't ljsf; ljefuaf6
ldlt @)&^.)$.@* df ljB't k|;f/0fsf] cg'dlt;d]t k|fKt eO;s]sf]Ù xfn;Dd pQm k|;f/0f nfO{g lgdf{0f sfo{s f] Survey /
Design nufotsf sfdx? ;DkGg eO{ Manufacturing & Supply sf] sfo{ nuen ;dfKt ePsf]Ù %* j6f 6fj/ dWo
;Dk"0f %* j6} 6fj/sf] hu lgdf0f{ sfo{ ;dfKt ePsf], %^ j6f 6fj/sf] h8fg sfo{ ;dfKt ePsf] / %$ j6f 6fj/df
k|;f/0f nfOg tfGg] sfo{ ;dfKt ePsf]. o; k|;f/0f nfO{g lgdf{0fsf nflu cfof]hgfnfO{ cfjZos kg]{ hUuf k|flKtsf tyf
k|;f/0f nfOgsf] /fO6 ckm j] df kg]{ hUufsf] Ifltk"tL{ ljt/0f ((Ü eGbf abL ;dfKt ePsf] 5.
cfof]hgfsf] ;du| k|ult cfof]hgfsf] ljleGg zLif{s cGt/ut 5'6\ofOPsf] nfut cg'dfgsf]] /sdsf] Weightage Percantage /
k|ltzt ef}lts k|ult k|ltztsf] Weightage Average Progress cfwf/df @)&* df3 !$ ut];Dd
cfof]hgfsf] ;du| k|ult k|ltzt ((=))% /x]sf] .
sDkgLsf] k|aGwkqsf] bkmf $ cg';f/ sDkgLsf] d'Vo p2]Zox¿ b]xfo adf]lhd /x]sf 5g\ .
-s_ hnljB't cfof]hgfsf] lgdf{0f Pj+ ;+rfng ug]{ .

-r_ ;+ul7t ;+:yfsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, Oltxf; / To;sf d'Vo p2]Zox?sf ;fy} To;df ePsf] nufgLsf]
c+z -k|ltztdf_ M ;f] gePsf] .

-!_ ;+ul7t ;+:yfn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx? M hnljB't cfof]hgfsf] lgdf{0f, ;+rfng / Aoj:yfkg ug]{ .

-@_ k|of]u ePsf] jf ul/g] k|ljlw M l;Gw'kfNrf]s lhNnfdf /x]sf] an]kmL vf]nfsf] kfgL pkof]u u/L hnljB't phf{ pTkfbg ug{
x]8jS;df 8fOe;{g afFw, l8:oflG8ª a]l;g, k]g:6s kfOk, ljB'tu[x cfbL ;+/rgf /x]sf 5g . cfof]hgfaf6 #^ d]=jf= ljB't
pTkfbg ug{ ljB'tu[xdf !,@)) ls=jf= sf # j6f k|lG;; 6jf{Og / !$=$^ MVA sf # j6f h]g]/]6/ h:tf pks/0fx?sf] k|of]u
ul/Psf] 5 .
-#_ s'g} a||fG8g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ;+ul7t ;+:yf;Fu ;DalGwt af}l4s ;DklQ xs
clwsf/ M ;f] gePsf] .

-$_ ;+ul7t ;+:yfn] cf]u6]sf] ahf/ If]q M sDkgLn] g]kfnsf] k|b]z g+= #, afUdlt c~rn, l;Gw'kfNrf]s lhNnfdf axg] an]kmL vf]nfsf]
kfgL pkof]u u/L pTkfbg ug]{ . xfnsf] ahf/ If]q g]kfn ljB't k|flws/0f;+u ePsf] ;Demf}tf adf]lhd g]kfne/ /x]sf] 5 .
eljiodf cGo cfof]hgf lgdf{0f u/]sf] cj:yf tyf g]kfnaf6 ljB't lgof{t x'g] cj:yfdf /fli6«o ljB''t k|;f/0f nfO{g dfkm{t cGo
d'n'sdf ;d]t ahf/ lj:tf/ ug{ ;lsg]5 .
-%_ gofF pTkfbg tyf ;]jf ;DaGwL of]hgf M sDkgLn] Psn ?kdf tyf cfkm\gf] p2]Zo;+u d]n vfg] b]zleq tyf aflx/sf ljleGg
sDkgLx¿;Fusf] ;+o'Qm nufgLdf cfkm\gf] p2]Zo k|flKtsf nflu Aoj;flos ?kdf ;DefAo b]lvPsf gofF hnljB't cfof]hgfx?sf]
cWoog tyf lgdf{0f u/L g]kfnsf] hnlaB't If]qdf Ps cu|0fL sDkgLsf] ?kdf :yflkt x'g] nIo lnPsf] 5 .
-^_ pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sf M sDkgLn] pTkfbg ug]{ ljB't g]kfn ljB't
k|flws/0f;Fu ePsf] ljB't vl/b laqmL ;D´f}tf cg';f/ /fli6«o ljB't k|;f/0f nfOg dfkm{t ljt/0f ug]{ Aoj:yf ldnfO{Psf] 5 .
-&_ pTkfbg÷;+rfng Ifdtf / ;f] sf] pkef]u l:ylt M sDkgLaf6 lgdf{0fflwg an]kmL vf]nf hnljB't cfof]hgfsf] pTkfbg Ifdtf #^
d]ufjf6 /x]sf] / pTkfbg x'g] ;j} ljB't g]kfn ljB't k|flws/0fnfO{ /fli6«o ljB't k|;f/0f nfOg dfkm{t ljqmL ljt/0f ul/g]5 .
cfof]hgfsf] lgdf{0f ;DkGg x'g] ldlt @)&*÷!!÷!& df /x]sf] 5 .
-*_ sRrf kbfy{sf] >f]t, lsl;d / pknAwtf M afUdtL c~rn, l;Gw'kfNrf]s lhNnfsf] an]kmLdf axg] an]kmL vf]nfsf] kfgL .
-(_ u'0f lgoGq0fsf] nflu ul/Psf] Joj:yf M cfof]hgfsf] lgdf{0f cjwLdf ug'{kg]{ u'0f lgoGq0fsf nflu :jb]zL k/fdz{bftf lgo'Qm u/L
lgh dfkm{t ;Dk"0f{ lgdf{0f sfo{sf] cg'udg tyf lgoGq0f eO/x]sf] 5 .
-!)_ cg';Gwfg tyf ljsf; M sDkgLsf] :yfkgf eP kZrft\ cfkm\gf] p2]Zo cg';f/ #^ d]ufjf6 Ifdtfsf] an]kmL vf]nf hnljB't
cfof]hgfsf] cWoog÷cg';Gwfg k'/f u/L xfn ;f] cfof]hgfsf] ljsf;÷lgdf{0f e}/x]sf] 5 .
-!!_ ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;+rfngdf c;/ kg]{ u/L ePsf] jfwf, Jojwfg M
➢ ldlt @)&&.)#.@% ut] /ftL cla/n aiff{sf] sf/0fn] cfof]hgfsf] OG6]s ;fO6df /x]sf] h'ª vf]nfdf / cf;kf;sf
ljleGg vf]N;f vf]N;Ldf cfPsf] af9Ln] klx/f] cfO{ cfof]hgfsf] OG6]s ;fO6df /x]sf] cfj; ejg tyf OG6]s
;+/rgfx?df Iflt k'uL cfof]hgf ;+rfngdf c;/ k'u]sf]].

➢ ljZje/ km}lnPsf] dxfdf/L sf]/f]gf (COVID 19) sf] sf/0faf6 o; dflyNnf] jn]kmL–P hnljB't cfof]hgf -#^ d]=jf=_ sf]
;Gbe{df lgDg kl/l:ytL ;[hgf eO{ cfof]hgfsf] sfo{ k|utL x'g g;s]sfn] ldlt @)&^÷!@÷)# af6 sfa' aflx/sf] kl/l:ytL
;[hgf eO{ cfof]hgf ;+rfngdf c;/ k'u]sf]] .

l;lh{t kl/l:ytL M
!= o; cfof]hgfsf] HM/EM ;Da4 sfo{sf] nfuL ef/tLo cfk"lt{stf{;+u ;Demf}tf ePsf] t/ ef/tdf sf]/f]gf dxfdf/Lsf] sf/0f pBf]u
;~rfng, oftfoft, hg;Dks{ nufot aGb eO{ l;h{gf ePsf] kl/l:ytLsf] sf/0f ;fdfu|L cfk"lt{ x'g g;s]sf] / ;f] sf] sf/0f
cfof]hgfsf] HM/EM sfo{ k|utL x'g g;s]sf] .
@= sf]/f]gfsf] dxfdf/Lsf] sf/0f rLgdf l;lh{t c;xh kl/l:ytLsf] sf/0faf6 lrgaf6 ;fdfu|L tyf ck/]6/ lemsfO dd{t ;Def/
ug'{kg]{ o; cfof]hgfsf] lgdf{0fsf] nflu k|of]u eO/x]sf lrgdf lgld{t Boomer nufotsf pks/0fx? tyf d]lzg/Lsf] dd{t x'g
g;sL cfof]hgfsf] l;len lgdf{0fsf] k|utL x'g g;s]sf] .
#= g]kfn ;/sf/sf] lgb]{zg cg'?k Ps :yfgdf @% hgf eGbf al9 e]nf x'g gkfpg] Joj:yfaf6 cfof]hgfdf sfo{/t dhb'/ tyf

6
 sd{rf/L hDdf u/L sfddf nufpg g;lsPsf] .
$= o; cfof]hgfsf nfuL cfk"tL{stf{sf] pBf]udf lgdf{0f ePsf] pks/0fsf] lgl/If0fsf nfuL ef/t e|d0f ug{ k|ltalGwt cj:yfdf
lgl/If0f x'g g;sL cfk"lt{ x'g g;s]sf] sf/0f lgdf{0f tflnsf ;d]t k|efljt ePsf] .
%= o; cfof]hgfsf] nfuL lgdf{0f ;fdfu|L h:t} /8, l;d]G6, kmfO{j/, OGwg nufotsf ;fdfu|L cfk"lt{ ug{ ;Demf}tf ul/Psf
cfk"lt{stf{x?n] sf]/f]gf (COVID 19) sf] sf/0faf6 cfkm\gf] Joj;fo ;~rfng gu/]af6 lgdf{0f ;fdfu|Lsf] cefjdf
cfof]hgfsf] sfo{ k|efljt ePsf] .
^= ljleGg ;fdflhs ;~hfn tyf ;~rf/ dfWoddf cfPsf] sf]/f]gf (COVID 19) ;DalGw k'i6÷ck'i6 ;"rgfaf6 cfof]hgfsf
sd{rf/L tyf dhb'/x?df dfgl;s qf; k}bf eO{ cfof]hgf :yn 5f8L uPsf]n] tyf hg;Dks{df ;d:of ePsf] sf/0f
6«fG;ld;g nfOgsf] sfo{ k|efljt ePsf] 5 .
&= COVID 19 sf] qf;sf] sf/0faf6 l;lh{t c;xh kl/l:ytLsf] sf/0f 9'jfgLsf] Joj:yf ug{ g;lsPsf]n] cfof]hgfsf nfuL
cfoft ul/Psf] sl/a ?=@),)),)),))).– -cIf?kL la; s/f]8 dfq ._ a/fa/sf] ;fdfu|L lj/u~h e+;f/ laGb'af6 cfof]hgf
:yn;Dd 9'jfgL ug{ g;lsPsf] .
*= o; cfof]hgfsf] nfuL hfkfgLh k|ljlw cg';f/ ef/tdf pTkfbg x'g] pks/0f h8fg ug]{ hfkfgLh k|fljlws;+u ;dGjo ug'{
kg]{ ePsf]df sf]/f]gf dxfdf/Lsf] sf/0faf6 hfkfgdf l;h{gf ePsf] c;xh kl/l:ytLsf] sf/0f cfjZos ;dGjo x'g g;s]sf]
sf/0f sfo{ k|utL x'g g;s]sf] .
(= o; cfof]hgfsf] nfuL cfjZos ljikmf]6s kbfy{ cfjZos k/]sf] ;dodf ;xh ?kdf pknAw x'g g;s]sfn] 6g]n lgdf{0f
sfo{df k|utL x'g g;s]sf] .

➢ ljZje/ km}lnPsf] dxfdf/L sf]/f]gf (COVID 19) s} ;dodf dg;'gsf] ;do kg{ uO{ cfof]hgfsf] kx'Fr dfu{df cj/f]w eO{ lgdf{0f
;fdfu|L 9'jfgL x'g g;ls cfof]hgfsf] sfo{ k|utLdf yk cj/f]w x'g uPsf] .

-!@_ dhb'/ ;+u7g;Fusf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f] ;DaGwL ljj/0f M ;f] gePsf] .
-!#_ ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux? aLr ;+ul7t ;+:yfsf] l:ylt M sDkgL4f/f lgdf{0fflwg cfof]hgfaf6 ljB't pTkfbg eP
kZrft\ Psdfq v/Lbstf{ g]kfn ljB't k|flws/0f /xg] u/L ljB't v/Lb ljqmL ;Demf}tf ePsf] .
-!$_ k|d'v u|fxsx?sf] ljj/0f -h:t}–;+:yfsf] s"n jflif{s sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{] jf Joj;fosf] nflu ;+ul7t
;+:yf s'g} k|d'v u|fxs;Fu lge{/ 5 eg] t\t;DaGwL ljj/0f M sDkgL / g]kfn ljB't k|flws/0f aLr ljB't vl/b laqmL ;D´f}tf
ePsf]n] k|d'v u|fxssf] ?kdf g]kfn ljB't k|flws/0f /x]sf] 5 .
-!%_ k|d'v ;Knfo;{x?sf] ljj/0f -h:t}–;+:yfsf] s"n sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg ug{] ;Knfo;{ jf Joj;fosf] nflu
;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg] t\t;DaGwL ljj/0f_ M

cfof]hgf xfn lgdf{0fflwg cj:yfdf /x]sf] / lgdf{0f ;DkGg ug{sf nflu lgDg adf]lhd 7]Ssf ;Demf}tf eO{;s]sf] .
s_ cfof]hgfsf] k/fdz{ sfo{sf nflu k/fdz{bftf M/S AFRY Consult India Pvt. Ltd. (Former AF Consult Pvt.Ltd) ;Fu ldlt
@)&$÷!)÷)$ df 7]Ssf ;Demf}tf eO{ sfo{ ;Dkfbg ub}{ cfO{/x]sf] .
v_ cfof]hgfsf] l;len sfo{sf nflu 7]s]bf/ j}s'07 P08 jn]kmL sG:6«S;g k|f=ln= -xfn a}s'07 sdnf h]÷le_ ;Fu ldlt
@)&$÷)&÷@% df / lqj]0fL sG:6«S;g;+u ldlt @)&#÷!!÷!) 7]Ssf ;Demf}tf eO{ xfn lgdf{0f sfo{ eO{/x]sf] .
u_ cfof]hgfsf] xfO8«f]d]sflgsn sfo{sf nflu M/S CBMEW INDIA ;Fu ldltM @)&%÷!)÷)^ / M/S CBMEW Nepal ;Fu ldlt
@)&^÷)(÷)$ df 7]Ssf ;Demf}tf eO{ xfn lgdf{0f sfo{ eO{/x]sf] .
3_ cfof]hgfsf] On]S6«f]d]sflgsn sfo{sf nflu k/fdz{bftf M/S TPSC INDIA Pvt.Ltd. Ltd. ;Fu ldlt @)&$÷)(÷)& df 7]Ssf
;Demf}tf eO{ sfo{ ;Dkfbg ub}{ cfO{/x]sf] .

u=#=v= ;DklQsf] ljj/0f M

-s_ ;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf M xfn sDkgL cGt{utsf] an]kmL
hnljB't cfof]hgfsf] lgdf{0f sfo{ e}/x]sf] 5 . xfn;Dd sDkgLsf] gfddf ;[hgf e} ;s]sf] rn crn ;DklQsf] ljj/0f b]xfo
adf]lhd /x]sf] 5 . -cfly{s jif{ @)&&.&* sf] n]vf kl/If0f k|ltj]bg cg';f/_
l;= v'b ;DklQ /sd ;DklQ /x]sf]
g+= ;Dkltsf] ljj/0f -?= xhf/df_ :yfg ;DklQsf] cj:yf
-s_ sDkgLtkm{
d]lzg/L tyf lgdf{0f pks/0fx? 1,28,381/- rfn' cj:yfdf /x]sf]
sDkgLsf] s]lGb|o sfof{no rfn'
;jf/L ;fwg 6,265/- cj:yfdf /x]sf]
6]s,' sf7df08f} / cfof]hgf
kmlg{r/ tyf lkmSr/ 385/- :yn l;Gw'kfNrf]s . rfn' cj:yfdf /x]sf]
sfof{no ;fdfu|L 1,156/- rfn' cj:yfdf /x]sf]
ljljw ;DklQ 14/- rfn' cj:yfdf /x]sf]
hDdf -s_ 1,36,201/-
-v_ cfof]hgftkm{
hUuf tyf hUuf lasf; 256,120/- cfof]hgf :yn l;Gw'kfNrf]s . rfn' cj:yfdf /x]sf]
sfof{no tyf cGo ejg 50,000/- rfn' cj:yfdf /x]sf]
hDdf -v_ 3,06,120/- rfn' cj:yfdf /x]sf]
hDdf -s_ + -v_ 4,42,321/-
gf]6 M cGo pks/0fx?sf] ;DjGwdf xfn;Dd On]S6«f]d]sflgsn sfo{sf] 7]Ssf ;Demf}tfdf ePsf ljleGg pks/0fx? dWo] qmdzM
Draft tube Complete Sets, First Stage Embedment parts, Earth Mat, Powerhouse EOT Crane, Generators with Auxillary
Equipments & Accessories, Power Transformers all sets, Satation Transformers, Spiral Casing, Oil Pressure Unit,

7
 h:tf pks/0fx? cfof]hgf lgdf{0f :yndf ;DjlGwt
Compressor System, Turbine Shaft Turbine Runnes with Accessories, MIV, Stator
7]s]bf/sf] lhDdfdf /x]sf] / pQm pks/0f sDkgLsf] rn crn ;DklQsf] ?kdf >[hgf eO{g;s]sf] cj:yf /x]sf] .

-v_ a'Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cfkm\g} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf] eP lnhsf] cjlw ldlt ;d]t
pNn]v ug'{kg]{ M
cfof]hgfsf] ef}lts ;+/rgfx? lgdf{0f k|of]hgsf nfuL sDkgLn] kl/of]hgf :yn l;Gw'kfNrf]s h'un ufpFkflnsfdf @^% /f]kgL hUuf
vl/b ul/, ef]uflwsf/ k|fKt ul/ lnPsf] 5 . o;/L vl/b ul/Psf] hUuf cfkm\g} ;DklQ ePsf] / g]kfn ;/sf/ Nfd6fª /fli6«o lgs'~hsf]
dWojtL{ If]qleqsf] hUuf g]kfn ;/sf/ -dlGqkl/ifb_ sf] ldlt @)&%÷)&÷@( sf] lg0f{o cg';f/ tnsf] tflnsfdf pNn]v eP
adf]lhdsf] hUuf lnhdf lnPsf] . tyflk cfof]hgftkm{sf ;DklQ ;Demf}tf cawL kZrft g]kfn ;/sf/nfO{ x:tfGt/0f ug'{ kg]{ Aoa:yf
/x]sf] . lnhdf lnPsf] ;/sf/L jg If]qsf] ljj/0f M
l;=g+= ljj/0f If]qkmn lnh cjlw s}lkmot
! cfof]hgf lgdf{0f )=!) ;fdfGotof o; k|sf/sf] lnhsf] cjlw Nfd6fª /fli6«o lgs'~hsf] dWojtL{
cjlw x]S6/ cfof]hgf lgdf{0f cjlw If]qleqsf] hUuf g]kfn ;/sf/ -dlGqkl/ifb_
(Short Term Lease) -Jofkfl/s pTkfbg;Dd_ sf] nflu /xg] sf] ldlt @)&%÷)&÷@( sf] lg0f{o cg';f/
ePtfklg /fli6«o lgs'~h tyf jGohGt' /fli6«o lgs'~h tyf jGohGt' ;+/If0f
;+/If0f laefu / o; sDkgL aLr ldlt laefu / o; sDkgL aLr ldlt
@)&%.)(.!#ut] ePsf] l¢kIfLo ;Demf}tf @)&%.)(.!# ut] ePsf] l¢kIfLo ;Demf}tf
adf]lhd ;Demf}tfsf] cjlw #) aif{ /x]sf] adf]lhd .
5.
@ cfof]hgf cjlwe/ $=(% ;fdfGotof o; k|sf/sf] lnhsf] cjlw Nfd6fª /fli6«o lgs'~hsf] dWojtL{
(Long Term Lease) x]S6/ cfof]hgf cjlw-pTkfbg cg'dtLkq axfn If]qleqsf] hUuf g]kfn ;/sf/ -dlGqkl/ifb_
/xg] cjwL ;Dd_ sf] nflu /xg] ePtfklg sf] ldlt @)&%÷)&÷@( sf] lg0f{o cg';f/
/fli6«o lgs'~h tyf jGohGt' ;+/If0f /fli6«o lgs'~h tyf jGohGt' ;+/If0f
laefu / o; sDkgL aLr ldlt laefu / o; sDkgL aLr ldlt
@)&%.)(.!#ut] ePsf] l¢kIfLo ;Demf}tf @)&%.)(.!# ut] ePsf] l¢kIfLo ;Demf}tf
adf]lhd ;Demf}tfsf] cjlw #) aif{ /x]sf] adf]lhd .
5.
s"n %=)%
x]S6/

-u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP ;f] ;DaGwL ljj/0f M
ln8 a}+s Unf]an cfOPdO{ a}+s ln tyf ;xljlQos/0f a}+sx? qmdzM Pe/]i6 a}+s ln=, ;flgdf a}+s ln= / /fli6«o jfl0fHo a}+s ln=
-;fljs PgcfOl8;L 8]enkd]06 a}+s ln=_ aLr ldlt @)&#÷)&÷@^ df ePsf] ;xljlQos/0f C0f ;Demf}tf adf]lhd pQm a}+sx?n]
an]kmL vf]nf hnljB't cfof]hgf lgdf{0fsf] nflu ?=$,@%,)),)),)))÷– -cIf/]kL rf/ ca{ klRr; s/f]8 dfq_, ldlt @)&&.)(.@@ ut]
ePsf] k'/s ;xljlQos/0f C0f ;Demf}tf adf]lhd ?=(^,)),)),)))÷–-cIf/]kL 5ofgAa] s/f]8 dfq_ / ldlt @)&*.)#.)* ut] ePsf]
bf];|f] k'/s ;xljlQos/0f C0f ;Demf}tf adf]lhd ?=@),)),)),)))÷–-cIf/]kL la; s/f]8 dfq_ shf{ nufgL ug]{ / pQm shf{ / ;f] sf]
Aofh tyf cGo b:t'/ ;d]t vfDg] u/L ;'/If0f afkt sDkgLsf] gfddf xfn /x]sf] / kl5 l;h{gf x'g] cfof]hgfsf] rn crn ;DklQ
an]kmL xfO8«f]kfj/ ln= sDkgLsf] gfddf /x]sf] l;Gw'kfNrf]s lhNnf, h'un ufpFkflnsf j8f g+= @, # / $ -;fljssf] uf]Nr], u'Djf /
kfªtfª uf=lj=;=_ l:yt #^ d]ufjf6 Ifdtfsf] an]kmL vf]nf hnljB't cfof]hgf pQm a}+sx?sf] gfddf b[li6jGwssf] lnvt /lhi6«]zg
kfl/t ul/Psf] 5 .
-3_ ljj/0fkq af]8{df k]z ul/Psf] ldltdf ;+ul7t ;+:yfsf] ;DklQsf] lstfjL d"No / ahf/ d"No aLr km/s ePdf ;f] sf] ljj/0f M ;DklQx?
k/n d"Nodf g} /flvPsf]n] k'g{d"NofÍg ul/Psf] 5}g .
-ª_ ;DklQsf] d"Nof+sg ul/Psf] t/Lsf ;DaGwL ljj/0f M nfu' gx'g] .
u=#=u= efjL of]hgf tyf /0fgLlt M

-s_ Joj;fo÷;]jfsf] a[l4sf nflu ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng] ;doj4 /0fgLlt M
sDkgLsf] d'Vo /0fgLlt g]kfnsf] hnljB't ljsf;df Ps cu|0fL sDkgLsf] ?kdf :yflkt ug'{ /x]sf]n] gofF hnljB't cfof]hgfx?sf]
;DefJotf cWoog ug]{ / ;f] cfof]hgfx?sf] lgdf{0f u/L pTkflbt ljB't g]kfn ljB't k|flws/0fnfO{ laqmL u/L b]zdf /x]sf] phf{ ;+s6nfO{
s]xL xb;Dd sd ug]{ . sDkgL4f/f ln8 a}+s Unf]an cfOPdO{ a}+s ln tyf ;xljlQos/0f a}+sx? qmdzM Pe/]i6 a}+s ln=, ;flgdf a}+s ln=
/ /fli6«o jfl0fHo a}+s ln= -;fljs PgcfOl8;L 8]enkd]06 a}+s ln=_ ;Fu lnPsf] C0fnfO{ cfof]hgf ;DkGg eO{ k"0f{ ?kdf Aofkfl/s
pTkfbg eP kZrft ;Demf}tf adf]lhdsf] ;fFjfsf] ls:tf tyf Aofh ;lxt a'emfpg] 5 . o; sDkgLsf] k|aGwkqdf pNn]v ul/Psf]] p2]Zo
cg'?k eflj of]hgf / /0fgLltdf ;DefJo hnljB't cfof]hgfsf] klxrfg u/L cg'dltkq k|fKt u/L ;j]{If0f, lgdf{0f, ;~rfng / Aoj:yfkg
ug]{ / tL cfof]hgfx?af6 pTkflbt ljB't zlQm laqmL ug]{ . ljleGg hnljB't cfof]hgfx?sf] ;j]{If0f, lgdf{0f, ;~rfng / Aoj:yfkg ug{
cGo sDkgL;Fu ldln nufgL ug]{ jf gofF sDkgL :yfkgf u/L ;f] sfo{ ug]{ of]hgf /x]sf] . pTkflbg ljB't zlQmsf] laqmL ljt/0fsf lgldQ
cfjZostf cg';f/ ;j:6]zg tyf k|;f/0f nfOgx? lgdf{0f ug]{ / /fli6«o k|;f/0f k|0ffnL;Fu hf]8L laqmL ljt/0f ug{ cfjZos Joj:yf ug]{
nIo /x]sf] . pTkflbt ljB't zlQm g]kfn ;/sf/ jf s'g} ;+ul7t ;+:yfnfO{ Psd'i6 laqmL ug]{ jf k|rlnt sfg'gsf] clwgdf /xL cfˆg}
k|;f/0f nfOg ljsf; u/L jf cGo lgsfosf] k|;f/0f nfOg k|of]u u/L ljB't pkef]Qmfx?nfO{ laqmL ljt/0f ug]{ of]hgf /x]sf] .
k|rlnt sfg'g adf]lhd :jLs[lt lnO{ pTkflbt hnljB't ljb]zdf lgof{t ug]{ ;d]tsf] nIo /x]sf] 5 . hnljB't cfof]hgsf] klxrfg,
;j]{If0f, lgdf{0f, ;~rfng Aoj:yfkg;Fu / ;xfos x'g] cGo cfjZos sfd ug]{ cflb .
-v_ k|lt:kwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:yltsf] cfwf/df ;+ul7t :f+:yfsf] Aoa;fosf] eljioM sDkgLaf6
pTkflbt ljB't laqmL ug]{ ;DaGwdf g]kfn ljB't k|flws/0f;Fu ;Demf}tf eO{;s]sf] 5 . o; k|sf/n] of] sDkgL cGo hnlaB't
sDkgL;+u k|lt:kwf{df hfg ;Sg] / k|lt:kwL{ /xL nufgLstf{nfO{ plrt k|ltkmn lbg ;Ifd /xg] s'/fdf sDkgL ljZj:t /x]sf] 5.
8
u=#=3= ;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf M
sDkgLsf] lgodfjnLsf] lgod @& -@_ -;+;f]wg ;lxt_ df ePsf] Joj:yf cg';f/ ;ft -&_ hgf ;~rfns ;b:o /x]sf] ;~rfns ;ldlt
b]xfo adf]lhd /x]sf] 5 .
;+:yfks z]o/wgLx?af6 dgf]lgt jf lgjf{lrt % hgf
;j{;fwf/0f z]o/wgLx?af6 lgjf{lrt ! hgf
:jtGq ;~rfns ! hgf
hDdf & hgf
gf]6 M xfn u7g ul/Psf] ;~rfns ;ldltsf] ;+/rgfdf dlxnf ;+rfns g/x]sf] / lgisfzg kl5 x'g] ;fw/0f ;ef af6 dlxnf ;+rfnsf]
dgf]gog ul/g] x'bfF sDkgL P]g, @)^# sf] bkmf *^ sf] pkbkmf @ df ePsf] Aoj:yf kfngf ul/g] k|lta¢tf /x]sf] 5 .
;j{;fwf/0fdf z]o/ lgisf;g tyf afF8kmfF6 kZrft\ ;f]xL adf]lhd ;~rfns ;ldltdf k|ltlglwTj /xg] Joj:yf /x]sf] 5 . sDkgLsf]
lgodfjnLsf] lgod @* df ePsf] Aoj:yf cg';f/ ;~rfns x'gsf] nflu sDkgLsf] sDtLdf Ps ;o -!))_ lsQf z]o/ cfˆgf] gfddf vl/b
u/]sf] x'g' kg{]5 . t/ g]kfn ;/sf/ jf ;+ul7t ;+:yfsf] k|ltlglwTj ug]{ ;~rfns / :jtGq ;~rfnssf] xsdf pk/f]Qm Aoj:yf nfu' x'g] 5}g .

u=$= kF'hL ;+/rgf ;DaGwL hfgsf/L M

-s_ clws[t, hf/L tyf r'Qmf kF'hL / ;+:yfsf] :yfkgf kZrft\ ;f] df kl/jt{g ePsf] eP tT;DjGwL ljj/0f M

clws[t k'FhL M sDkgLsf] clws[t kF'hL ?=@,$),)),)),))).—-cIf/]kL b'O{ ca{ rfnL; s/f]8 ?k}+of dfq_ /x]sf]5 . pQm kF'hLnfO{ ?=!)).–
sf b/n] @,$),)),))) -b'O{ s/f]8 rfnL; nfv_ yfg z]o/df laefhg ul/Psf] 5 .
hf/L k'FhL M sDkgLsf] hf/L kF'hL ?=!,*@,&(,&),))).—-cIf/]kL Ps cj{ aof;L s/f]8 pgfGgAa] nfv ;Q/L xhf/ ?k}+of dfq_ /x]sf] 5.
pQm kF'hLnfO{ ?=!)).—sf b/n] !,*@,&(,&)) -Ps s/f]8 aof;L nfv pgfGgAa] xhf/ ;ft ;o_ yfg z]o/df laefhg
ul/Psf] 5 .
r'Qmf k'FhL M sDkgLn] cfkm\gf] hf/L kF'hL dWo] ?=!,$^,@#,&^,))).—-cIf/]kL Ps cj{ 5ofnL; s/f]8 t]O; nfv 5xQ/ xhf/ ?k}+of
dfq_ ;+:yfks z]o/wgLx?af6 r'Qmf eO{;s]sf] tyf afFsL ?=#^,%%,($,))).—-cIf/]kL 5QL; s/f]8 kRkGg nfv rf}/fgAa]
xhf/ dfq_ ;fj{hlgs z]o/ lgisf;gåf/f :yfgLo afl;Gbf tyf ;j{;fwf/0fnfO{ hf/L ug]{5 . :yfgLo afl;Gbf tyf
;j{;fwf/0fsf lgldQ 5'§fOPsf] ?=#^,%%,($,))).– -cIf/]kL 5QL; s/f]8 kRkGg nfv rf}/fgAa] xhf/ dfq_ /sd
a/fa/sf] ?=!)).— c+lst b/sf] #^,%%,($,) lsQf ;fwf/0f z]o/ lgisf;g u/L afF8kmfF6 u/] kZrft\ sDkgLsf] r'Qmf kF'hL
?=!,*@,&(,&),))).— -cIf/]kL Ps cj{ aof;L s/f]8 pgfGgAa] nfv ;Q/L xhf/ ?k}+of dfq_ x'g]5 .
sDkgLsf] :yfkgf kZrft\ clws[t, hf/L Pj+ r'Qmf k'FhLdf lgDg adf]lhd kl/jtg{ ePsf] 5 .
l;=g+= cfly{s jif{ clws[t k"FhL -?=_ hf/L k"FhL -?=_ r'Qmf k"FhL -?=_
! @)&#÷@)&$ @,$),)),)),))) @,$),)),)),))) !,)^,!&,^#,*^!
@ @)&$÷@)&% @,$),)),)),))) @,$),)),)),))) !,!*,)#,)(,^*&
# @)&%÷@)&^ @,$),)),)),))) @,$),)),)),))) !,!*,@!,)(,^*&
$ @)&^÷@)&& @,$),)),)),))) !,*@,&(,&),))) !,$^,@#,&^,)))
-v_ lgisf;g kl5sf]] r'Qmf k'FhL -;d"xs[t ul/Psf] cj:yfdf ;f]xL cg'?k_ M
sDkgLsf] k|aGwkqsf] bkmf ^ df pNn]v eP cg';f/ o; lgisfzg kZrft\ x'g] sDkgLsf] r'Qmf k"hLsf] ;+/rgf b]xfo adf]lhd
/x]sf]5 M
qm= ;fwf/0f k"FhL
;+= z]o/wgLx? z]o/ ;+Vof r'Qmf /sd -?=_ ;+/rgf e'QmfgL k|ltzt
!= ;+:yfks z]o/wgL ;d'x !,$^,@#,&^) !,$^,@#,&^,)))=)) *)% Zftk|ltzt e'QmfgL ePsf]
@= :yfgLo afl;Gbfx? !*,@&,(&) !*,@&,(&,)))=)) !) % lgisfzg kZrft Zftk|ltzt e'QmfgL x'g]
#= ;j{;fwf/0f z]o/wgL ;d"x !*,@&,(&) !*,@&,(&,)))=)) !)% lgisfzg kZrft Zftk|ltzt e'QmfgL x'g]
hDdf !,*@,&(,&)) !,*@,&(,&),)))=)) !))%

-u_ z]o/ lk|ldod vftf -lgisf;g k"j{ / lgisf;g kZrft\_ M z]o/ lk|ldod vftfsf] Aoj:yf xfn g/x]sf] .
u=%=;+:yfks÷;~rfns ;DaGwL hfgsf/L M
u=%=s= ;+:yfks÷;~rfnssf] k[i7e"dL M
-s_ cfwf/e"t z]o/wgLx? tyf ;~rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj, z}lIfs of]Uotf, cg'ej, / k|:tfljt
Aofkf/÷Aoj;fodf cg'ej M cfwf/e"t z]o/wgLx? ÷ ;+:yfksx?sf] gfd 7]ufgf / z]o/ :jfldTj b]xfo adf]lhd /x]sf] 5.
l; z]o/ :jfldTj z}lIfs hn ljB't If]qsf] cg'ej
g+ gfd pd]/ /fli6«otf kb of]Uotf cGo If]qsf] cg'ej
! >L pd]z s;h' %) g]kfnL !@,^*,*$@ cWoIf ljP;;L ;]G6/ km/ kfj/ 8]enkd]06 l;Gw"kfNrf]s pBf]u jfl0fHo ;+3sf] k|yd
km/]i6«L ;le{;]; k|f=ln=df ljut !$ pkfWoIfsf] ?kdf ldlt @)&&.)!.#) b]lv
jif{ b]lv cfa¢ /xL cKk/ xfn;Ddsf] ?kdf sfof{g'ej /x]sf].
xf8L vf]nf hnlaw't k'j]{nL jrt P08 ;xsf/L ;+:yf k|f=ln= df

9
 cfof]hgfsf] ;kmn lgdf0f{, ;+rfns kbdf /lx % jif{sf] sfof{g'ej
pKkfbg / ;+rfngsf] /x]sf].
sfof{g'ej /x]sf]. /Qmdfnf /f]8f 9'+uf pwf]usf] ;~rfns sf]
lzj >L xfO8«f]kfj/ ln sf] ?kdf sfo{ cg'ea /x]sf].
lgjt{dfg cWoIfsf] ?kdf kfNrf]s dfO{ /f]8f 9'+uf pwf]usf] ;~rfns
/xL cKk/ rfs' P hnlaw't sf] ?kdf sfo{ cg'ea /x]sf].
cfof]hgf -@@ d]ufjf6_ sf] cGo ljleGg pwf]u tyf Jojf;fodf
;kmn lgdf0f{, pKkfbg / ;+:yfks z]o/wgLsf] ?kdf cfa4 /x]sf].
;+rfngsf] sfof{g'ej /x]sf].
ljut % aif{b]lv ldlt
@)&*.)*.!% ;Dd an]kmL
xfO8«f]kfj/ ln sf] sfo{sf/L
cWoIfsf] ?kdf / xfn an]kmL
xfO8«f]kfj/ ln sf] cWoIfsf]
?kdf /xL hn ljB't If]qsf]
sfo{df cg'ej /x]sf] .
@ >L aRr' kf}8]n $) g]kfnL ^,@%,*(& z]o/wgL lj=P= ljut !@ aif{b]lv hn ljB't != lxdfnog l;dfkf/ Jofkf/ ;+3 M–;b:o
If]q ;DalGwt sfo{df cg'ej @)%* ;fnaf6 lg/Gt/ tyf cWoIf kbdf
/x]sf] . ldlt @)&$.(.! af6 xfn;Ddsf]
sfof{g'ej
@= b'uf{ P08 ;d|f6 6]«l8ª xfp;df % jif{
b]lv xfn;Ddsf] ;+rfnssf] sfof{g'ej .
# >L lji0f' axfb'/ $^ g]kfnL ^,@%,*(& z]o/wgL cfO=P ljut !@ aif{b]lv hn ljB't !=ljj]s OG6/k|fOh]h k|f=ln= df ;+rfns
vqL If]q ;DalGwt sfo{df cg'ej /lx ldlt @)%^ ;fnaf6 xfn;Ddsf]
/x]sf] . sfof{g'ej .
@=lxdfno ;Ldfkf/ Jofkf/ ;+3df cWoIf
/lx sfo{ u/]sf] @ jif{sf] sfof{g'ej .
$ >L ;GbLk $( g]kfnL @),&#,%^$ ;~rfns B.Com. Sharda Gropu cGt/ut ;g\ !((^ b]lv Jokfl/s ;d'x Sharda
s'df/ ;f/bf ljut !) aif{b]lv ljleGg Gropu cGt/ut Director sf] ?kdf
hnljw't cfof]hgfx?df tyf xfn;Dd sfo{/t /lx @% aif{ nfdf] Joj;foLs
xfO8«f]kfj/ sDkgLx?df cg'ea /x]sf].
z]o/wgL] ?kdf /x]sf]. Pioneer Motocorp Pvt. Ltd. sf]
;+rfns ÷ lgb]{ssf] ?kdf ljut & aif{ b]lv
ljut % aif{b]lv an]kmL xfn;Dd sfo{/t /lx Joj;foLs cg'ea /x]sf].
xfO8«f]kfj/ ln sf] ;+rfnsf] SPG Automobiles Pvt. Ltd. sf]
?kdf /xL hn ljB't If]qsf] ;+rfns ÷ lgb]{ssf] sf] ?kdf ljut * aif{
sfo{df cg'ej /x]sf] . b]lv xfn;Dd sfo{/t /lx Joj;foLs cg'ea
/x]sf].
Construction Solutions Pvt. Ltd.,
Gentech Pvt. Ltd.df ldlt ;g\ @))&
b]lv xfn ;Dd ;~rfns sf] ?kdf sfo{ cg'ea
/x]sf].
cGo ljleGg pwf]u tyf Jojf;fodf ;+:yfks
z]o/wgLsf] ?kdf cfa4 /x]sf].
% >L zlQm s'df/ $! g]kfnL @@,(#,*#^ ;~rfns BA ljut % aif{b]lv an]kmL ldlt ;g\ @))! b]lv Jokfl/s ;d'x
uf]Nof0f (Hons) xfO8«f]kfj/ ln sf] ;+rfnsf] Golyan Gropu cGt/ut sfo{sf/L
Textile ?kdf /xL hn ljB't If]qsf]
Mgmt.
lgb]{zs sf] ?kdf xfn;Dd sfo{/t /lx
2.2, UK
sfo{df cg'ej /x]sf] . Joj;foLs cg'ea /x]sf].
Tricot Industries Pvt. Ltd.df ldlt
;g\ @))! b]lv xfn ;Dd k|aGw ;~rfns
sf] ?kdf sfo{ cg'ea /x]sf].
cGo ljleGg pwf]u tyf Jojf;fodf
;+:yfks z]o/wgLsf] ?kdf cfa4 /x]sf].
^ >L ;flxn ;'/]z #^ ljb]zL #,&%,))) z]o/wgL MBA, hn ljB't If]q ;DalGwt Director- Royal Mughal LLC,
cfbefgL Barcelona sfo{df cg'ej g/x]sf]. Dubai, UAE
Spain Co-Founder- Loving My Bags &
800 Laether Solutions, Dubai UAE
MBA Intern –Addidas Group,
Herzogenaurach. Germany.
& >L ;'lzn u'Ktf #* g]kfnL @%,%(,!%* ;~rfns BBA ljut % aif{b]lv an]kmL ldlt ;g\ @))^ b]lv Jokfl/s ;d'x RG
Georgia xfO8«f]kfj/ ln sf] ;+rfnsf] Crop (Former: Lucky Group)
College & ?kdf /xL hn ljB't If]qsf]
state cGt/ut Vice President sf] ?kdf
university
sfo{df cg'ej /x]sf] . xfn;Dd sfo{/t /lx Joj;foLs cg'ea
, USA /x]sf].
Mizu construction Pvt.Ltd. sf]
cWoIf sf] ?kdf ljut @ aif{ b]lv
xfn;Dd sfo{/t /lx Joj;foLs cg'ea
/x]sf].
Modern Infrastructure Pvt.Ltd.
sf] cWoIf sf] ?kdf ljut ! aif{ b]lv
xfn;Dd sfo{/t /lx Joj;foLs cg'ea
/x]sf].
Universal Tradiing center Pvt.
Ltd. / Universal Electrocom
Pvt. Ltd. Sf] ldlt ;g\ @))^ b]lv xfn
;Dd k|aGw ;~rfns sf] ?kdf sfo{
cg'ea /x]sf].

10
 Lumbini Vidyut Udyog Pvt.
Ltd. df ldlt ;g\ @)!( b]lv xfn ;Dd
;~rfns sf] ?kdf sfo{ cg'ea /x]sf].
Nic Asia Bank Ltd.,
Mahalaxmi Vikash Bank,
Nepal Infrastructure Bank,
Nepal Life Insurance
Company, Asian Life
Insurance, Prudential
Insurance, Shivam Cement,
Honghsi Cement and Lumbini
Vidhut Udyog Pvt. Ltd. cflb
ljleGg pwf]u tyf Jojf;fodf ;+:yfks
z]o/wgLsf] ?kdf cfa4 /x]sf].
* >L z'ne $# g]kfnL @^,^*,*#^ ;~rfns High ljut * aif{b]lv df]bL ldlt ;g\ @)!) b]lv Jokfl/s ;d'x
cu|jfn School - xfO8«f]kfj/ ln sf] z]o/wgL] Shanker Group cGt/ut Vice
Gordonsto ?kdf /x]sf].
un school, Chairman sf] ?kdf xfn;Dd sfo{/t
Scotland, /lx Joj;foLs cg'ea /x]sf].
UK ljut % aif{b]lv an]kmL Jagadamba Steel Industries Pvt.
xfO8«f]kfj/ ln sf] ;+rfnsf] Ltd.sf] ;+rfns ÷ lgb]{ssf] ?kdf ljut
?kdf /xL hn ljB't If]qsf] & aif{ b]lv xfn;Dd sfo{/t /lx
sfo{df cg'ej /x]sf] . Joj;foLs cg'ea /x]sf].
Jagadamba Cement Pvt. Ltd.sf]
;+rfns ÷ lgb]{ssf] ?kdf ljut # aif{
b]lv xfn;Dd sfo{/t /lx Joj;foLs
cg'ea /x]sf].
S.G Global Pvt. Ltd., S.G
Engineering Pvt Ltd., S.G
Electronics Pvt Ltd. sf] ;+rfns ÷
lgb]{ssf] ?kdf ljut % aif{ b]lv
xfn;Dd sfo{/t /lx Joj;foLs cg'ea
/x]sf].
Noodles Association of Nepal.df
ldlt ;g\ @)!^ b]lv xfn ;Dd
General Manager sf] ?kdf /x]sf].
Confederation of Neplease Industry
(CNI) df ldlt ;g\ @)!( b]lv xfn ;Dd
Vice President sf] ?kdf sfo{ cg'ea
/x]sf].
European Chamber of Commerce,
Nepal Flour Association sf] General
Member sf] ?kdf @)!( b]lv xfn ;Dd
/x]sf].
cGo ljleGg pwf]u tyf Jojf;fodf
;+:yfks z]o/wgL tyf ;+rfns sf] ?kdf
cfa4 /x]sf].
( >L k|ef uf]oGsf %# g]kfnL !$,%%,)^$ z]o/wgL BSE ljut % aif{b]lv hn ljB't Managing Director- Diamond
-led;l/of_ If]q ;DalGwt sfo{df cg'ej Nepal Entreprises Pvt Ltd
/x]sf] .
!) >L g/]Gb| pns %^ g]kfnL $,)),^(! z]o/wgL ljut % aif{b]lv hn ljB't ljleGg Jofkf/ Joj;fodf nfdf] ;dob]lv
If]q ;DalGwt sfo{df cg'ej cfj¢
/x]sf] .
!! >L ljgf]b s'df/ $% g]kfnL !,$^,@#* z]o/wgL ljut % aif{b]lv hn ljB't vfgL pTvgg If]qdf cfj¢
>]i7 If]q ;DalGwt sfo{df cg'ej
/x]sf] .
;~rfnsx?sf] ljj/0f
l;= z}lIfs hn ljB't If]qsf] cg'ej cGo If]qsf] cg'ej
gfd, 7]ufgf kb pd]/ /fli6«otf z]o/ :jfldTj
g+= of]Uotf
!= >L pd]z cWoIf %) g]kfnL !@,^*,*$@ ljP;;L ;]G6/ km/ kfj/ 8]enkd]06 l;Gw"kfNrf]s pBf]u jfl0fHo ;+3sf] k|yd
s;h', rf}tf/f km/]i6«L ;le{;]; k|f=ln=df ljut !$ pkfWoIfsf] ?kdf ldlt @)&&.)!.#) b]lv
%, l;Gw'kfNrf]s jif{ b]lv cfa¢ /xL cKk/ xf8L xfn;Ddsf] ?kdf sfof{g'ej /x]sf].
. vf]nf hnlaw't cfof]hgfsf] k'j]{nL jrt P08 ;xsf/L ;+:yf k|f=ln= df
;kmn lgdf0f{, pKkfbg / ;+rfns kbdf /lx % jif{sf] sfof{g'ej /x]sf].
;+rfngsf] sfof{g'ej /x]sf]. /Qmdfnf /f]8f 9'+uf pwf]usf] ;~rfns sf] ?kdf
lzj >L xfO8«f]kfj/ ln sf] sfo{ cg'ea /x]sf].
lgjt{dfg cWoIfsf] ?kdf /xL kfNrf]s dfO{ /f]8f 9'+uf pwf]usf] ;~rfns sf]
cKk/ rfs' P hnlaw't ?kdf sfo{ cg'ea /x]sf].
cfof]hgf -@@ d]ufjf6_ sf] cGo ljleGg pwf]u tyf Jojf;fodf ;+:yfks
;kmn lgdf0f{, pKkfbg / z]o/wgLsf] ?kdf cfa4 /x]sf].
;+rfngsf] sfof{g'ej /x]sf].
ljut % aif{b]lv ldlt
@)&*.)*.!% ;Dd an]kmL
xfO8«f]kfj/ ln sf] sfo{sf/L
cWoIfsf] ?kdf / xfn an]kmL

11
 xfO8«f]kfj/ ln sf] cWoIfsf]
?kdf /xL hn ljB't If]qsf]
sfo{df cg'ej /x]sf] .
@= >L ;'lzn u'Ktf ;~rfns #* g]kfnL @%,%(,!%* BBA ljut % aif{b]lv an]kmL ldlt ;g\ @))^ b]lv Jokfl/s ;d'x RG
sf=lh=sf=d=g Georgia xfO8«f]kfj/ ln sf] ;+rfnsf] Crop (Former: Lucky Group) cGt/ut
College & ?kdf /xL hn ljB't If]qsf]
=kf= j8f g+= state Vice President sf] ?kdf xfn;Dd sfo{/t
#@, sf7df08f}+ university,
sfo{df cg'ej /x]sf] . /lx Joj;foLs cg'ea /x]sf].
. USA Mizu construction Pvt.Ltd. sf] cWoIf
sf] ?kdf ljut @ aif{ b]lv xfn;Dd sfo{/t /lx
Joj;foLs cg'ea /x]sf].
Modern Infrastructure Pvt.Ltd. sf]
cWoIf sf] ?kdf ljut ! aif{ b]lv xfn;Dd
sfo{/t /lx Joj;foLs cg'ea /x]sf].
Universal Tradiing center Pvt. Ltd. /
Universal Electrocom Pvt. Ltd. Sf]
ldlt ;g\ @))^ b]lv xfn ;Dd k|aGw ;~rfns
sf] ?kdf sfo{ cg'ea /x]sf].
Lumbini Vidyut Udyog Pvt. Ltd. df
ldlt ;g\ @)!( b]lv xfn ;Dd ;~rfns sf]
?kdf sfo{ cg'ea /x]sf].
Nic Asia Bank Ltd., Mahalaxmi
Vikash Bank, Nepal Infrastructure
Bank, Nepal Life Insurance
Company, Asian Life Insurance,
Prudential Insurance, Shivam
Cement, Honghsi Cement and
Lumbini Vidhut Udyog Pvt. Ltd. cflb
ljleGg pwf]u tyf Jojf;fodf ;+:yfks
z]o/wgLsf] ?kdf cfa4 /x]sf].
#= >L ;GbLk ;~rfns $( g]kfnL @!,(#,%^$ B.Com. Sharda Gropu cGt/ut ;g\ !((^ b]lv Jokfl/s ;d'x Sharda
s'df/ ;f/bf ljut !) aif{b]lv ljleGg Gropu cGt/ut Director sf] ?kdf xfn;Dd
nxfg ^, l;/xf hnljw't cfof]hgfx?df tyf sfo{/t /lx @% aif{ nfdf] Joj;foLs cg'ea
xfO8«f]kfj/ sDkgLx?df /x]sf].
z]o/wgL] ?kdf /x]sf]. Pioneer Motocorp Pvt. Ltd. sf] ;+rfns ÷
ljut % aif{b]lv an]kmL lgb]{ssf] ?kdf ljut & aif{ b]lv xfn;Dd
xfO8«f]kfj/ ln sf] ;+rfnsf] sfo{/t /lx Joj;foLs cg'ea /x]sf].
?kdf /xL hn ljB't If]qsf] SPG Automobiles Pvt. Ltd. sf] ;+rfns ÷
sfo{df cg'ej /x]sf] . lgb]{ssf] sf] ?kdf ljut * aif{ b]lv xfn;Dd
sfo{/t /lx Joj;foLs cg'ea /x]sf].
Construction Solutions Pvt. Ltd.,
Gentech Pvt. Ltd.df ldlt ;g\ @))& b]lv
xfn ;Dd ;~rfns sf] ?kdf sfo{ cg'ea /x]sf].
cGo ljleGg pwf]u tyf Jojf;fodf ;+:yfks
z]o/wgLsf] ?kdf cfa4 /x]sf].
$= >L zlQm s'df/ ;~rfns $! g]kfnL @^,^*,*#^ BA (Hons) ljut % aif{b]lv an]kmL ldlt ;g\ @))! b]lv Jokfl/s ;d'x Golyan
uf]Nof0f Textile xfO8«f]kfj/ ln sf] ;+rfnsf] Gropu cGt/ut sfo{sf/L lgb]{zs sf] ?kdf
lj/f6gu/ !&, Mgmt. 2.2, ?kdf /xL hn ljB't If]qsf]
UK xfn;Dd sfo{/t /lx Joj;foLs cg'ea /x]sf].
df]/Ë sfo{df cg'ej /x]sf] . Tricot Industries Pvt. Ltd.df ldlt ;g\
@))! b]lv xfn ;Dd k|aGw ;~rfns sf] ?kdf
sfo{ cg'ea /x]sf].
cGo ljleGg pwf]u tyf Jojf;fodf ;+:yfks
z]o/wgLsf] ?kdf cfa4 /x]sf].
%= >L z'ne ;~rfns $# g]kfnL @^,^*,*#^ High ljut * aif{b]lv df]bL ldlt ;g\ @)!) b]lv Jokfl/s ;d'x Shanker
cu|jfn, School - xfO8«f]kfj/ ln sf] z]o/wgL] Group cGt/ut Vice Chairman sf] ?kdf
Gordonstou ?kdf /x]sf].
sf=lh=sf=d=g n school, xfn;Dd sfo{/t /lx Joj;foLs cg'ea /x]sf].
=kf= j8f g+=$, Scotland, Jagadamba Steel Industries Pvt. Ltd.sf]
sf7df08f}+. UK ljut % aif{b]lv an]kmL ;+rfns ÷ lgb]{ssf] ?kdf ljut & aif{ b]lv
xfO8«f]kfj/ ln sf] ;+rfnsf] xfn;Dd sfo{/t /lx Joj;foLs cg'ea /x]sf].
?kdf /xL hn ljB't If]qsf] Jagadamba Cement Pvt. Ltd.sf] ;+rfns ÷
sfo{df cg'ej /x]sf] . lgb]{ssf] ?kdf ljut # aif{ b]lv xfn;Dd
sfo{/t /lx Joj;foLs cg'ea /x]sf].
S.G Global Pvt. Ltd., S.G Engineering
Pvt Ltd., S.G Electronics Pvt Ltd. sf]
;+rfns ÷ lgb]{ssf] ?kdf ljut % aif{ b]lv
xfn;Dd sfo{/t /lx Joj;foLs cg'ea /x]sf].
Noodles Association of Nepal.df ldlt ;g\
@)!^ b]lv xfn ;Dd General Manager sf]
?kdf /x]sf].
Confederation of Neplease Industry
(CNI) df ldlt ;g\ @)!( b]lv xfn ;Dd
Vice President sf] ?kdf sfo{ cg'ea /x]sf].
European Chamber of Commerce, Nepal
Flour Association sf] General Member sf]
?kdf @)!( b]lv xfn ;Dd /x]sf].

12
 cGo ljleGg pwf]u tyf Jojf;fodf ;+:yfks
z]o/wgL tyf ;+rfns sf] ?kdf cfa4 /x]sf].
gf]6 M sDkgLsf] lgodfjnLsf] lgod @& -@_ -;+;f]wg ;lxt_ df ePsf] Joj:yf cg';f/ ;~rfns ;ldlt u7g ul/Psf] 5 . dfly pNn]v ul/Psf ;~rfnsx?
sDkgLsf] lgodfjnL / k|aGwkqsf] bkmf ^ 3 df Aofj:yf eP adf]lhd ÆsÆ ;d'xsf] k|ltlglwTj /x]sf] 5 . xfnnfO{ ;j{;fwf/0f z]o/wgLx?af6
lgjf{lrt Ps -!_ hgf / :jtGq ;~rfns Ps -!_ hgf ævÆ ;d'xsf] ;~rfnssf] kb l/Qm /x]sf] 5 .
gf]6 M lautdf sDkgLsf cWoIf >L pd]z s;h'Ho" sfo{sf/L e'ldsf ;d]t /xL sfo{sf/L cWoIf /xg' ePsf]df sDkgLsf] ldlt @)&*.)*.!% df a;]sf] ;~rfns
;ldltsf] a}7saf6 cWoIf >L pd]z s;h'Ho" sfo{sf/L e'ldsf g/xg] Joj:yfkgnfO{ ;j{;Ddt l:jls[t ul/Psf] / sDkgLdf xfn cfjfl;o OlGhlgo ?kdf
sfo{/t >L /fhg lwtfn Ho" sDkgLsf] sfo{sf/L k|d'v -l;=O=cf]=_ lgo'lQm x'g' ePsf] x'Fbf æ;'lrs[t ;Ël7t ;+:yfx?sf] ;+:yfut z';f;g ;DalGw lgb]{lzsf
@)&$Æ sf] lgod !@ sf] pklgod ! adf]lhd cWoIf / sfo{sf/L k|d'v cnu JolQm x'g'kg]{ eGg] Joj:yfsf] kfnfgf ul/Psf] 5 .
-v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+lIfKt ljj/0f (Profile) / pQm sDkgL÷;+:yfsf
;~rfnsx?sf] gfd, 7]ufgf, -k|fs[lts AolQm gv'n];Dd_ M
;+:yfksx?sf] gfd tyf 7]ufgf ;lIfKt ljj/0f ;~rfnsx?sf] gfd tyf 7]ufgf
lzj >L xfO8«f]kfj/ lnld6]8 g]kfndf /x]sf] ckf/ hn>f]tsf] pkof]u u/L hnljB't != >L aRr' kf}8]n, km'nlkËs§L !, l;Gw'kfNrf]s .
-;fljs lzj >L xfO8«f]kfj/ k|f= cfof]hgfx?sf] klxrfg u/L ;efJotf cWoog, lgdf{0f / @= >L lji0f' axfb'/ vqL, uflt, l;Gw'kfNrf]s .
ln=_ sf=lh=sf=d=g=kf= j8f g+= ##, ;+rfng ug]{ x]t'n] lzj >L xfO8«f]kfj/ k|f= ln= sf] ldlt #= >L dGh' s'df/L >]i7, x]6f}+8f #, gf/fo0fL .
cgfdgu/, sf7df08f}+ . @)^@.!@.!* ut] sDkgL /lhi6«f/sf] sfof{nodf btf{ eO{ $= >L /fh]Gb| s'df/ >]i7, dfvf, l;Gw'kfNrf]s .
ldlt @)&#.)*.@( ut] sDkgL /lhi6«f/sf] sfof{nosf] %= >L sdn s'df/ >]i7, km'nlkËs§L !, l;Gw'kfNrf]s .
lg0f{o cg';f/ k|f= ln= af6 kl/jt{g eO{ klAns lnld6]8sf] ^= >L Zofd axfb'/ >]i7, sflndf6L8f]n (, l;gfd+un,
?kdf lzj >L xfO8«f]kfj/ ln=sf] ?kdf btf{ clen]v eO{ sf7df08f}+ .
sf/f]jf/ ;+rfng ub}{ cfPsf] sDkgL xf] .
-u_ ;+ul7t ;+:yfsf] ;~rfnsx? cGo s'g} sDkgL, ;+:yf, sf]if, ;+u7g;Fu cfj4 eP To:tf] ;~rfns / cfj4 ePsf] ;+:yfsf] gfd, 7]ufgf M
qm=;+ ;~rfnssf] gfd, 7]ufgf cfa4 /x]sf] ;+:yfsf] gfd, 7]ufgf
!= >L pd]z s;h', rf}tf/f %, l;Gw'kfNrf]s . k|yd — pkfWoIfsf] l;Gw"kfNrf]s pBf]u jfl0fHo ;+3.
;+rfns — k'j]{nL jrt P08 ;xsf/L ;+:yf k|f=ln=.
;~rfns — /Qmdfnf /f]8f 9'+uf pwf]us.
;~rfns — kfNrf]s dfO{ /f]8f 9'+uf pwf]u .
@= >L ;'lzn u'Ktf, sf=lh=sf=d=g=kf= j8f g+= #@, sf7df08f}+. cWoIf — Mizu construction Pvt.Ltd.
cWoIf —Modern Infrastructure Pvt.Ltd
k|aGw ;~rfns — Universal Tradiing center Pvt. Ltd.
k|aGw ;~rfns— Universal Electrocom Pvt. Ltd.
;~rfns — Lumbini Vidyut Udyog Pvt. Ltd.
;+:yfks — Nic Asia Bank Ltd., Mahalaxmi Vikash Bank, Nepal Infrastructure Bank,
Nepal Life Insurance Company, Asian Life Insurance, Prudential Insurance, Shivam
Cement, Honghsi Cement and Lumbini Vidhut Udyog Pvt.Ltd.
#+= >L ;GbLk s'df/ ;f/bf, nxfg ^, l;/xf . Director- Sharda Group which is one of the largest private industrial and trading
conglomerates in Nepal
Director- Premier Wires Pvt. Ltd.
Director- Nutri Foods Pvt. Ltd.
Director- SPG Tradinig Pvt. Ltd.
Director- Pioneer Motocorp Pvt. Ltd.
Director- Construction Solutions Pvt. Ltd.
Gentech Pvt. Ltd.
Director- SPG Automobiles Pvt. Ltd.
;b:o —CNI National Council
$ >L zlQm s'df/ uf]Nof0f, lj/f6gu/ !&, df]/Ë . sfo{sf/L ;~rfns — uf]Nof0f u|'k
= k|aGw ;~rfns —Tricot Industries Pvt. Ltd.
%+ >L z'ne cu|jfn, sf=lh=sf=d=g=kf= j8f g+=$, sf7df08f}+. Vice Chairman — Shanker Group of Industries & Trading House having more then 27
Business Units
Vice President - Confederation of Neplease Industry (CNI)
General Member - Noodles Association of Nepal
General Member - European Chamber of Commerce
General Member - Nepal Flour Association
Executive Member - Nepal Government Budget Planning Committee
dfly pNn]lvt ;~rfnsx?n] ;"rLs[t ;+ul7t ;+:yfx?sf] ;+:yfut ;'zf;g ;DaGwL lgb]{lzsf, @)&$ sf] ;Dk"0f{ Aoj:yfx? tyf sDkgL P]g, @)^# sf] bkmf *(
sf] pkbkmf -!_ adf]lhdsf] Joj:yfx? kfngf ul/Psf] 5 . ;fy} sDkgL P]g, @)^# sf] bkmf *( sf] pkbkmf -!_ -5_ sf] ;DaGwdf æsDkgL P]g, @)^# sf] clwgdf
/xL ;~rfnsnfO{ dgf]gog u/L k7fPsf] Joxf]/f cg'/f]w 5 .
-3_ ;+:yfks÷;~rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M
-s_ sDkgLsf] z]o/ vl/b jf x:tfGt/0f ug{ jf lwtf]aGws /fVg ;~rfns ;ldltsf] :jLs[tL lng' kg]{5 . :jLs[tL lagf ul/Psf] z]o/ vl/b jf
x:tfGt/0f dfGo x'g] 5}g .
-v_ ;j{;fwf/0f z]o/wgL ;d"x afx]s cGo ;d"xsf nufgLstf{x?nfO{ ;j{;fwf/0fnfO{ lgisf;g u/]sf] z]o/ afF+8kmfF+6 ePsf] ldltn] tLg jif{ k"/f
geP;Dd laqmL ljt/0f jf x:tfGt/0f ug{ kfOg] 5}g .

u=%=v=;+:yfks÷;~rfns;Fusf] sf/f]af/ M
-s_ ;+ul7t ;+:yfaf6 s'g} ;+:yfks÷;~rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{s jf u}/cfly{s_ k|fKt u/]sf] jf k|fKt ug]{
ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP afkt ;+ul7t ;+:yfn] s'g} ;DklQ, ;]jf k|fKt u/]sf] jf ug]{ ePdf
tT;DaGwL ljj/0f M ;f] gePsf] .
-v_ a'Fbf -s_ df pNn]lvt a:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfOPsf] tl/sf M ;f] gePsf] .

13
u=^=;Lldt bfloTj ;DaGwL ljj/0f M
o; sDkgL k|rlnt sDkgL sfg'g cGtu{t :yflkt tyf ;~rflnt klAns lnld6]8 sDkgL xf] . o;df z]o/wgLx?sf] bfloTj ;Lldt 5 . o; sDkgLsf]
z]o/wgLsf] bfloTj lghn] vl/b u/]sf] jf vl/b ug{ saf]n u/]sf] z]o/sf] clwstd /sd;Dd dfq ;Lldt /xg]5 .

u=&=;+ul7t ;+:yfsf] sd{rf/L ;DaGwL hfgsf/L M

u=&=s=;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0f M
-s_ ;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf sd{rf/Lsf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn] u/]sf] sfdsf] cg'ej tyf ;+ul7t ;+:yfsf] z]o/
lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f . ;fy} To:tf] sd{rf/Lx? cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t
;+:yfdf nufgL u/]sf] eP pQm ;+ul7t ;+:yfsf] gfd / nufgL u/]sf] /sd v'nfpg' kg]{ .

z]o/
qm=;+= sd{rf/Lsf] gfd kb of]Uotf lgo'lQm ldlt sfof{g'ej
;+Vof
!= /fhg lwtfn sfo{sf/L k|d'v -l;=O=cf]=_ BE Civil/MBA ldlt @)&$÷)@÷#! b]lv !_ ;geL Oglh{ k|f=ln=sf] hf]udfO 5}g .
(IGNU) ldlt @)&*÷)*÷!% ;Dd vf]nf ;fgf] hnljB't cfof]hgf -&=^
cfjfl;o OlGhlgosf] ?kdf d]=jf=_ Onfddf k|f]h]S6 Ogrfh{ kbdf
sfo{/t /xL @)&* . )* . !% @ jif{sf] sfof{e'gj .
df a;]sf] ;~rfns ;ldltsf]
a}7saf6 sfo{sf/L k|d'v - @_ O:6g xfO8«f]kfj/ k|f=ln sf] lks'jf
l;=O=cf]=_ ?kdf lgo'lQm vf]nf ;fgf] hnljB't cfof]hgf -@=%
d]=jf=_ ef]hk'/df cfjfl;o OlGhlgo/
kbdf ! jif{sf] sfof{e'gj .
@= lko'if cu|jfn Kfj/xfp; OGrfh{ BE Civil @)&^÷)!÷)! ljut @ aif{b]lv hn ljB't If]q ;DalGwt 5}g .
sfo{df cg'ej /x]sf] .
#= clgn rf}w/L n]vf÷ljQ clws[t BBS @)&@÷)!÷)^ != P;= l;= nfn P;f]l;P6\;df ^ 5}g .
dlxgf cl86 clkm;/sf] sfo{fg'ej
@= Pn= l;= l;= cfO= g]kfn k|f=ln= df
n]vf clws[t eO{ @ jif{sf] sfof{g'ej.
#= jn]kmL xfO8«f]kfj/ ln= df ljut ^
jif{b]lvsf] n]vf÷ljQ clws[t kbdf
sfo{/t .
gf]6 M sDkgLsf] ldlt @)&*.)*.!% df a;]sf] ;~rfns ;ldltsf] a}7saf6 sDkgLdf cfjfl;o OlGhlgo ?kdf sfo{/t >L /fhg lwtfn Ho" nfO{ sDkgLsf]
sfo{sf/L k|d'v -l;=O=cf]=_ df lgo'lQm ul/Psf] .
gf]6 M pRr Joj:yfksLo txsf sd{rf/Lx?sf] cGo s'g} ;+ul7t ;+:yfdf nufgL gePsf] ;fy} cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL
gePsf]_ .
-v_ ljj/0fkq af]8{df k|:t't ug{' eGbf ! aif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf afx]s ;+ul7t ;+:yfsf] pRr Aoa:yfksLo
txdf /x]sf s'g} sd{rf/L kl/jt{g ePdf ;f] ;DaGwL ljj/0f pNn]v ug'{ kg]{ M ;f] gePsf] .

-u_ sd{rf/Lsf] ;+Vof M sDkgL tyf lgdf{0ffwLg an]kmL hnljB't cfof]hgfdf xfn tkl;n adf]lhd hDdf !!) hgf sd{rf/Lx? /x]sf 5g\ .

:yfoL c:yfoL s/f/ Hofnfbf/L cGo s'n sd{rf/L ;+Vof

— !!) — — — !!)

u=&=v=;~rfns Pj+ pRr Aoa:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M
-s_ ;~rfns ;ldltsf] cWoIf nufot cGo ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] a}7s eQfsf] b/ tyf lghx?nfO{ k|bfg ul/g] jf ul/Psf] b}lgs tyf
e|d0f eQf tyf cGo ;'ljwf M
xfn;Dd cWoIf nufot ;~rfnsx?n] s'g} klg a}7s eQf tyf ;'ljwf k|fKt ug'{ ePsf] 5}g . o; lgisf;g eO{ afF8kmfF6 kZrft ;j{;fwf/0f
;d]t ;xeflu x'g] ;fwf/0f ;efdf pQm ljifo pk/ 5nkmn u/L to ul/g] Joxf]/f cg'/f]w 5 . oBlk sfo{sf/L cWoIfnfO{ sDkgLsf] b}lgs
sfo{df k|ToIf of]ubfg u/]afkt Ps aif{leq cyf{t\ @)&& >fj0fb]lv @)&* cfiff9 ;Dddf ?=@%,%%,!%).– kfl/>lds e'QmfgL u/]sf] tyf
sDkgLsf lgb{]zs >L ;'lzn u'KtfnfO{ sDkgLsf] vl/b Aoj:yfkgdf k|ToIf of]ubfg u/]afkt ;f]xL cjlwdf ?=@%,%%,!%).– kfl/>dLs
e'QmfgL u/]sf] .
-v_ ;+ul7t ;+:yfsf] pRr Aoa:yfklso txsf tLg hgf clws[tx?sf] gfd, kb / Ps cfly{s aif{sf] cjlw leq pgLx?nfO{ kfl/>ldssf] ?kdf e'Qmfg
ul/Psf] /sd M
l;= Ps aif{leq cyf{t\ @)&& >fj0fb]lv @)&* cfiff9
sd{rf/Lsf] gfd kb
g+= ;Dddf e'QmfgL u/]sf] kfl/>lds -?=_
!= >L /fhg lwtfn cfjfl;o OlGhlgo/ xfn sfo{sf/L k|d'v -l;=O=cf]=_ @),@@,&#%.–
@= clgn rf}w/L n]vf÷ljQ clws[t %,^%,%)).–
#= lko'if cu|jfn Kfj/xfp; OGrfh{ *,@%,%)).–
gf]6 M sDkgLsf] ;+rfns ;ldltsf] ldlt @)&^.)!.!# ut]sf] a}7saf6 sfo{sf/L cWoIf >L pd]z s;h'sf] ldlt @)&^.)@.)! ut]b]lv nfu' x'g] u/L lghsf] dfl;s
kfl/>lds s/ afx]s v'b ?= !%),))).– /xg] lg0f{o ePsf] .

14
 sDkgLsf] ;~rfns ;ldltsf] ldlt @)&%.)%.!@ ut]sf] a}7saf6 sDkgLsf lgb]{zs >L z'lzn u'Ktfsf] ldlt @)&$.!!.)! ut]b]lv nfu' x'g] u/L lghsf]
dfl;s kfl/>lds s/ afx]s v'b ?=!%),))).– /xg] lg0f{o ePsf] .
sDkgLsf] ;~rfns ;ldltsf] ldlt @)&$.)!.@& ut]sf] a}7saf6 cfof]hgfsf cfjl;o OlGhlgo/ >L /fhg lwtfnsf] ldlt @)&$.)@.)# ut]b]lv nfu' x'g]
u/L lghsf] dfl;s kfl/>lds s/ afx]s ?=!@%,))).– /xg] lg0f{o ePsf] / sDkgLsf] ;~rfns ;ldltsf] ldlt @)&*.)*.!% ut]sf] a}7saf6 lghnfO{
' -l;=O=cf]=_ ?kdf dfl;s kfl/>lds s/ afx]s ?=!%),))).– /xg] u/L lgo'lQm ul/Psf].
sfo{sf/L k|dv

-u_ s'g} clws[t jf ;~rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f] ;DaGwL ljj/0f M ;f] gePsf] .

u=*=cGt{lglxt hf]lvd tyf ;f] df Aoj:yfkgsf] nfuL Aoj:yfkgsf] wf/0ff M

;+ul7t ;+:yfn] axg u/]sf] jf ug]{ hf]lvd :ki6 ?kdf pNn]v ug'{ kg]{ . o; ;Gbe{df hf]lvdx?nfO{ ;+ul7t ;+:yfsf] cfGtl/s jf Aoj;fo÷cfof]hgf;Fu k|ToIf
cyjf ;+ul7t ;+:yfsf] lgoGq0f eGbf aflx/sf] egL alu{s/0f u/L k|d'v ?kdf b]xfosf] hf]lvdsf] ljZn]if0f ug'{ kg]{ .
-s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M

➢ cfof]hgf lgdf{0f r/0fdf g} ePsf]n] lgdf{0f nfut a9\g uO{ x'g] ljQLo hf]lvd /x]sf] .
➢ cfof]hgf nfut a9\g ePdf sDkgLn] yk ljQLo >f]tsf] Aoj:yf ug'{ kg]{ .

-v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M

➢ hn;|f]tsf] d'xfgsf] jftfj/0fdf ck|Tofl;t ?kdf kl/jt{g e} kfgLsf] ;|f]t 36\g uPdf pTkfbg Ifdtf 36\g ;Sg] ;Defjgf ePsf] eP
tfklg nfdf] cjlwsf] xfO{8«f]nf]hLsf] 8f6fsf] cWoog tyf ljZn]if0fsf cfwf/df kfgLsf] jxfj to ePsf] xF'bf pNn]lvt hf]lvdsf] ;Defjgf
Go"g /x]sf] .

-u_ pTkfbg tyf ;]jfsf] ahf/ l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M
➢ o; cfof]hgfaf6 pTkflbt ljB't g]kfn ljB't k|flws/0fn] vl/b ug]{ ;Demf}tf e} ;s]sf] x'gfn] o:tf] hf]lvd gx'g] .
➢ g]kfn ljB't k|lws/0f k"0f{tof g]kfn ;/sf/sf] :jfldTj ePsf] ;+:yf ePsf] x'Fbf ljB't laqmLjf6 k|fKt x'g] cfodf ;'lglZrttf /x]sf] 5 .
➢ xfnsf] cj:yfdf ljB'tsf] ahf/sf] hf]lvd g/x]sf] .

-3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clea[l4 (cost overrun) sf] hf]lvd M
;fljs 7]s]bf/af6 ;+tf];hgs sfo{ x'g g;s]sf] sf/0f sDkgL cfkm}n] cfof]hgf lgdf{0f ug]{ k|ls|of k|f/De Joj:yfkg ug{ ;do nfu]sf], jiff{ofddf
cfof]hgf If]qsf] kx'Fr dfu{df af9L klx/f]sf] lgdf{0f sfo{ k|efljt ePsfn] z'? to ul/Psf] lgdf{0f cjlw a9]sf], l8hfOgdf ;fdfGo x]/km]/
ePsfn] nfut a9]sf], sf]/f]gf dxfdf/Lsf] sf/0faf6 lgDg adf]lhdsf] sfa' aflx/sf] kl/l:ylt ;[hgf eO{ cfof]hgfsf] lgdf{0f sfo{ k|efljt ePsf]n]
cfof]hgfsf] z'? cg'dflgt nfut a9]sf]df kl5Nnf] cg'dfg cg';f/sf] nfutdfg} cfof]hgf lgdf{0f ;DkGg x'g] cg'dfg /x]sf] .

ljZje/ km}lnPsf] dxfdf/L sf]/f]gf (COVID 19) sf] sf/0faf6 o; dflyNnf] jn]kmL–P hnljB't cfof]hgf -#^ d]=jf=_ sf] ;Gbe{df lgDg kl/l:ytL ;[hgf
eO{ cfof]hgfsf] sfo{ k|utL x'g g;s]sfn] ldlt @)&^÷!@÷)# af6 sfa' aflx/sf] kl/l:ytL ;[hgf ePsf] .

l;lh{t kl/l:ytL M
!= o; cfof]hgfsf] HM/EM ;DaB sfo{sf] nfuL ef/tLo cfk"tL{stf{ ;+u ;Demf}tf ePsf] t/ ef/tdf sf]/f]gf dxfdf/Lsf] sf/0f pBf]u ;+rfng,
oftfoft, hg;Dks{ nufot aGb eO{ l;h{gf ePsf] kl/l:ytLsf] sf/0f ;fdfu|L cfk"tL{ x'g g;s]sf] / ;f] sf] sf/0f cfof]hgfsf] HM/EM sfo{
k|utL x'g g;s]sf] .
@= sf]/f]gfsf] dxfdf/Lsf] sf/0f rLgdf l;lh{t c;xh kl/l:ytLsf] sf/0faf6 lrgaf6 ;fdfu|L tyf ck/]6/ lemsfO dd{t ;Def/ u'g{kg]{ o;
cfof]hgfsf] lgdf{0fsf] nflu k|of]u x'Fb} /x]sf lrgdf lgld{t Boomer nufotsf pks/0fx? tyf d]lzg/Lsf] dd{t x'g g;sL cfof]hgfsf] l;len
lgdf{0fsf] k|utL x'g g;s]sf] .
#= g]kfn ;/sf/sf] lgb]{zg cg'?k Ps :yfgdf @% hgf eGbf al9 e]nf x'g gkfpg] Joj:yfaf6 cfof]hgfdf sfo{/t dhb'/ tyf sd{rf/L hDdf u/L
sfddf nufpg g;lsPsf] .
$= o; cfof]hgfsf nfuL cfk"tL{stf{sf] pBf]udf lgdf{0f ePsf] pks/0fsf] lgl/If0fsf nfuL ef/t e|d0f ug{ k|ltalGwt cj:yfdf lgl/If0f x'g g;sL
cfk"lt{ x'g g;s]sf] sf/0f lgdf{0f tflnsf ;d]t k|efljt ePsf] .
%= o; cfof]hgfsf] nfuL lgdf{0f ;fdfu|L h:t} /8, l;d]G6, kmfO{j/, OGwg nufotsf ;fdfu|L cfk"tL{ ug{ ;Demf}tf ul/Psf cfk"tL{stf{x?n] sf]/f]gf
(COVID 19) sf] sf/0faf6 cfkm\gf] Joj;fo ;+rfng gu/]af6 lgdf{0f ;fdfu|Lsf] cefjdf cfof]hgfsf] sfo{ k|efljt ePsf] .
^= ljleGg ;fdflhs ;+hfn tyf ;~rf/ dfWoddf cfPsf sf]/f]gf (COVID 19) ;DalGw k'i6÷ck'i6 ;"rgfaf6 cfof]hgfsf sd{rf/L tyf dhb'/x?df
dfgl;s qf; k}bf eO{ cfof]hgf :yn 5f8L uPsf]n] tyf hg;Dks{df ;d:of ePsf] sf/0f 6«fG;ld;g nfOgsf] sfo{ k|efljt ePsf] 5 .
&= COVID 19 sf] qf;sf] sf/0faf6 l;lh{t c;xh kl/l:ytLsf] sf/0f 9'jfgLsf] Joj:yf ug{ g;lsPsf]n] cfof]hgfsf nfuL cfoft ul/Psf] sl/a
?=@),)),)),))).– -cIf?kL la; s/f]8 dfq ._ a/fa/sf] ;fdfu|L lj/u~h e+;f/ laGb'af6 cfof]hgf :yn ;Dd 9'jfgL ug{ g;lsPsf] .
*= o; cfof]hgfsf] nfuL hfklgh k|ljlw cg';f/ ef/tdf pTkfbg x'g] pks/0f h8fg ug]{ hfkgLh k|fljlws ;+u ;dGjo ug'{ kg]{ ePsf]df sf]/f]gf
dxfdf/sf] sf/0faf6 hfkfgdf l;h{gf ePsf] c;xh kl/l:ytLsf] sf/0f cfjZos ;dGjo x'g g;s]sf] sf/0f sfo{ k|utL x'g g;s]sf] .
(= o; cfof]hgfsf] nfuL cfjZos ljikmf]6s kbfy{ cfjZos k/]sf] ;dodf ;xh ?kdf pknAw x'g g;s]sfn] 6g]n lgdf{0f sfo{df k|utL x'g
g;s]sf] .

-ª_ ljb]zL ljlgdosf] hf]lvd M cfof]hgfsf] cg'dflgt nfut tof/ kfl/Psf] ;doeGbf xfn ljb]zL d'b|fsf] t'ngfdf g]kfnL d'b|fsf] cjd"Nog ePsf]
sf/0faf6 cfof]hgfsf] lgdf{0f nfut s]lx a9sf] .

-r_ sfg"gL k|s[ofx? tyf O{hfht k|fKt ug'{ kg]{ eP ;f] af6 kg{ ;Sg] cj/f]wx? M xfn sDkgLn] k"/f ug'{kg]{ ;Dk"0f{ sfg'gL k|lqmofx? k"/f ul/;s]sf] /
k|fKt ug{'kg]{ ;Dk"0f{ Ohfhtkqx? k|fKt u/L ;s]sf]n] ;f] hf]vLd g/x]sf] .

-5_ If]qLos/0f / ljZjAofkLs/0f (Globalization) sf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M cGt//fli6«o ahf/df x'g] cfly{s dGbLaf6 z]o/
ahf/df c;/ k/]df z]o/sf] d"Nodf c;/ kg{ ;Sg] . sd{rf/L ;~+rosf]ifsf ;~rostf{, C0f lbg] ;+:yfsf sd{rf/Lx?, ;+:yfks z]o/wgL ;+:yfsf
sd{rf/Lx?nfO{ lgisf;g ug{ nfluPsf] k|:tfljt z]o/ ljt/0f kl5 ;j{;fwf/0fsf] nflu lgisfzg ul/g] z]o/ afF+8kmfF+6 ePsf] ldltn] tLg aif{ k'/f

15
 geP;Dd laqmL ljt/0f jf x:tfGt/0f ug{ gkfOg] Joj:yf /x]sf]n] ;f] tLg jif{sf] ns Og ;do (Lock in Period) cufj} cfof]hgf ;DkGg x'g]
x'Fbf xfnsf] z]o/ ahf/df k|ToIf ?kdf tTsfnnfO{ sd c;/ kg{ hfg] .

-h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjAofkL ?kdf x'g] gLltut kl/jt{gaf6 pTkGg x'g] hf]lvd M s/, eG;f/, ljB'lto pks/0fx?
cfoftdf s'g} klg ;/sf/L gLltut kl/jt{g ePdf o:tf hf]vLd /xg] .

-em_ ;+rfng Oltxf;sf] cefj M sDkgLsf ;+rfns tyf ;+:yfksx? ljut nfdf] ;dob]lv o; k|sf/sf cfof]hgf lgdf{0f tyf ljB't pTkfbgdf ;+nUg x'Fb}
cfO{/x]sf]n] ;+rfng O{ltxf;sf] cefj gx'g] .

-`_ k|ljlwsf] kl/jt{gaf6 x'g] ;Sg] hf]lvd M kfgLaf6 pTkfbg x'g] hnlaB't gljs/0fLo phf{ xf], h;n] jftfj/0fdf gsf/fTds k|efj kfb}{g . phf{sf
cGo >f]tx? eGbf kfgLaf6 pTkfbg x'g] phf{af6 jftfj/0fLo xfgL sd x'g] / o;sf] nfut cGo phf{sf] eGbf t'ngfTds ?kdf sd x'g] x'Fbf cGo
>f]taf6 pTkfbg x'g] laB't cfof]hgfeGbf kfgLaf6 pTkfbg x'g] ljB't cfof]hgfx?sf] hf]vLd sd /x]sf] 5 . tyflk eljiodf pRr k|ljlwsf]
ljsf; eO{ cGo >f]taf6 ;:tf] b/df ljB't pTkfbg ePdf eg] s]xL xb;Dd o; Aoj;fodf c;/ kg]{ hf]vLd /x]sf] .

-6_ k'jf{wf/ lgdf{0fdf x'g] l9nfO{sf sf/0f x'g ;Sg] hf]lvd M cfof]hgfsf] Aofkfl/s pTkfbg ;'? x'g] ldlt @)&^ ;fn efb« @# ut] tf]lsPsf] ePtfklg
xfn cfof]hgf lgdf{0fflwg cj:yfdf /x]sf] / s'g} sf/0fa; k"jf{wf/ lgdf{0fdf l9nfO{ x'g uPdf cfof]hgf lgdf{0f cjlw tyf nfutdf s]lx a[l4 x'g
;Sg] hf]vLd /x]sf] .

-7_ cGo M
➢ b}jL k|sf]k, dxfdf/L tyf sfa' aflx/sf] kl/l:ylt pTkGg eO cfof]hgf lgdf{0f sfo{df l9nfO{ ePdf cfof]hgfsf] nfut a9\g'sf ;fy} pTkfbg
36\g ;Sg] .
➢ hnljB't cfof]hgf lgdf{0f ubf{ x'g] hf]lvdx? dWo] e'sDk, af9L, klx/f] h:tf sf/0fn] x'g] Iflt / o;jf6 ljB't pTkfbgdf kg]{ k|efjnfO{
Go"lgs/0fsf nflu cfof]hgfsf] ;Dk"0f{ ;DklQnfO{ vfDg] u/L aLdfsf] Joj:yf ul/Psf] .
➢ hnjfo' kl/j{tgjf6 vf]nfdf kfgLsf] jxfjdf yk 36 x'g uO{ tb\cg'?k ljB't pTkfbgdf 36a9 x'g ;Sg] .
➢ cfof]hgfsf] RCOD @)&^÷)%÷@# /x]sf]df sf]/f]gf dxfdf/L lgoGq0fsf nflu 3f]if0ff ul/Psf] ns8fpg tyf dxfdf/Lsf] sf/0f l;lh{t
kl/l:yltsf] sf/0f / x/]s aiff{ofddf aiff{, af9L / klx/f]sf] sf/0f cfof]hgfsf] kx'Fr dfu{df x'g] cj/f]wsf] sf/0fn] cfof]hgfsf] sfo{ k|ult x'g
g/s]sf]n] ;f] sf] nflu ljB't vl/b laqmL ;Demf}tf cg';f/ sfa' aflx/sf] kl/l:ylt sfod ul/ kfpg ;DalGwt lgsfodf cg'/f]w ul/Psf]df afx]s
cGo s'g} sf/0fn] xfn sfod /x]sf] RCOD sf] Dofb yk gePdf .

;Defljt cfly{s hf]lvdx?nfO{ Go"gLs/0f ug{ Joj:yfkgn] lgDg pkfox? cjnDjg ub}{ hfg]5 M
g]kfndf phf{ zlQmsf] dfu w]/} eP tfklg cfk"lt{ Go"g /x]sf] / g]kfn hn>f]tsf] wgL b]z ePsf]n] cGo phf{sf] >f]teGbf e/kbf]{ >f]t kfgL xf] . t;y{
phf{sf nflu hnljB'tsf] cfjZostf / dxTj slxNo} sd gx'g] x'Fbf hnljB'tsf] nufgLdf Go"g hf]lvd /x]sf] Aoa:yfkgsf] wf/0ff /x]sf] 5 . ;fy} phf{
laleGg >f]taf6 k|fKt ug{ ;lsG5Ù h:t} M ;f}o{ zlQm, l8h]n, sf]Onf, hn>f]t cflb . o;dWo] kfgLaf6 pTkfbg x'g] hnlaB't gljs/0fLo phf{ ePsf]n]
hnljB't cfof]hgfx?n] jftfj/0fdf xfgL sd ug]{ / o;sf] nfut cGo phf{eGbf t'ngfTds ?kdf sd /xg] x'Fbf cGo >f]taf6 pTkfbg x'g] laB'teGbf
kfgLaf6 pTkfbg x'g] hnljB't cfof]hgfx?df sd hf]lvd /x]sf] wf/0ff Aoa:yfkgsf] /x]sf] 5 . ;Defljt hf]lvdx?nfO{ Go"lgs/0fsf nflu sDkgLn] u/]sf
jLdfx? ;DjGwL ljj/0f tk;Ln adf]lhd /x]sf 5g\ . e"sDk, af9L, klx/f], cfunfuL h:tf k|fs[lts k|sf]kaf6 x'g ;Sg] gf]S;fgLnfO{ Go"gLs/0f ug{ xfn
cfof]hgf lgdf{0ffwLg cj:yfdf ;DalGwt ;+/rgfx?sf ladf ul/Psf] / cfof]hgf lgdf{0f sfo{ ;DkGg ePkl5 Loss of Profit (revenue) / Property
All Risk Insurance ladf ul/g]] 5 .

aLdf sDklgsf] aLdfsf] k|sf/ Aldfªsf] /sd ?= aLdf lk|ldod aLdf cjlw Aldfn] ;d]6\g] hf]lvdx?
l;=g gfd -?=_
ljleGg ;fdfu|Lx?sf]
g]sf] OG:o"/]G; Contractors All Risk
cUgL, e'sDk hf]lvd
! sDkgL lnld6]8 Insurance for CIVIL works @,&&&,&@(,%&%.)) #,!#*,*^*=%* !& cS6f]a/ ;d'x, x'nb+uf,tyf
(Headworks, Tunnel, Power !,*^@,^)^=!@ @)@) b]lv !! x8\tfn, bf]if k"0f{ sfo{
House all Civil Works) of the %,**%,#!$=%# clk|n @)@@ tyf cft+sjfb, x'/L
Project.
%,**%,#!$=%# ;Dd atf;, cfFwLj]/L, af9L
tyf hndUg, klx/f]
hf]lvd tyf t];\f] kIfsf]
la?4 aLdf ;'/If0f
ljleGg ;fdfu|Lx?sf]
Erection All Risk Insurance
cUgL, e'sDk hf]lvd
@ lk|ldo/ OG:o"/]G; for EM Works of the Project. *!!,()#,#&).$) @,*^!,)&)=@# @( l8;]Da/ ;d'x, x'nb+uf,tyf
sDkgL -g]kfn_ @,!**,!@)=!* @)@) b]lv #! x8\tfn, bf]if k"0f{ sfo{
lnld6]8 @,!**,!@)=!* df{r @)@@ tyf cft+sjfb, x'/L
;Dd atf;, cfFwLj]/L, af9L
tyf hndUg, klx/f]
hf]lvd tyf t];\f] kIfsf]
la?4 aLdf ;'/If0f
ljleGg ;fdfu|Lx?sf]
# n'lDalg h]g]/n $!!,^*$,)&%.$* &*(,^*$=)@ @$ km|]a'|j/L cUgL, e'sDk hf]lvd
OG:o"/]G; sDkgL Erection All Risk Insurance *(@,^^@=&! @)@! b]lv @* ;d'x, x'nb+uf,tyf
for HM Works of the Project.

16
 lnld6]8 km|]a'|j/L @)@@ x8\tfn, bf]if k"0f{ sfo{
;Dd tyf cft+sjfb, x'/L
atf;, cfFwLj]/L, af9L
tyf hndUg, klx/f]
hf]lvd tyf t];\f] kIfsf]
la?4 aLdf ;'/If0f

lwtf]kq d"No kl/jt{g ;DalGw hf]lvd M

k|lt z]o/ c+lst d"No ?=!))÷—sf b/n] lgisf;g ul/Psf] z]o/ d"Non] ;"rLs/0f kZrft\ g]kfn :6s PS;r]Gh lnld6]8df x'g] sf/f]jf/ d"No ghgfpg] ePsf]n]
z]o/ d"Nodf x'g ;Sg] kl/jt{gsf] hf]lvd /x]sf] 5 .

(= ljQLo ljj/0f

u=(=s= ljQLo ljj/0f / tT;DaGwdf Aoj:yfkgsf] wf/0ff / ljZn]if0f M

-s_ ;+ul7t ;+:yfsf] n]vfk/LIf0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf-gf]S;fg lx;fa afF8kmfF8, gub k|jfx ljj/0fM o; sDkgLsf]
cf=a=)&&÷&* sf] n]vfkl/If0f ePsf] jf;nft, gfkmf—gf]S;fg lx;fa tyf gfkmf—gf]S;fg afF8kmfF8 lx;fa vftfsf] oyfy{ ¿k/]vf o; k|sf/ 5 M

jf;nft -cfiff9 #!, @)&*_ -?=xhf/df_

ljj/0f /sd
;DktL
u}/ rfn" ;DktL
l:y/ ;DktL 136,201
lgdf{0flwg kl/of]hgf nfut 6,896,427
hDdf u}/ rfn' ;DktL 7,032,628
rfn" ;DktL
gub tyf gub a/fa/ 20,782
k]ZsL / df}Hbft 512,360
hDdf rfn' ;DktL 533,142
hDdf ;DktL 7,565,770
k"hL / bfloTj
z]o/wgLsf] k"hL
z]o/ k"hL 1,462,376
z]o/ afkt clu|d e'QmfgL
;|+lrt gfkmf. -gf]S;fg_ (93,034)
hDdf k"hL 1,369,342
u}/ rfn" bfloTj
bL3{sfnLg shf{ 4,457,057
cGo u}/ rfn' bfloTj 38,100
hDdf u}/ rfn" bfloTj 4,495,156
rfn" bfloTj
;G8«L s|]l86/x? 358,035
la\h Uofk shf{ 1,311,496
cGo e'Stfg of]Uo 31,740
hDdf rfn' bfloTj 1,701,272
hDdf k"hL tyf u}/ rfn" bfloTj 7,565,770

Gffkmf ÷ gf]S;fg lx;fa ->fj0f !, @)&& b]lv cfiff9 #!, @)&*_ -?=xhf/df_
ljj/0f /sd
cfo
ljB't ljls|af6 cfDbfgL
a}s Aofh cfDbfgL
cGo cfDbfgL
hDdf cfo
vr{
ljw't KnfG6 ;+rfng vr{
k|zf;gLs vr{ 3,097.48
Xf; s6L, Aofh / s/ cl3sf] gfkmf (3,097.48)
ljlQo vr{
Xf; s6L (966.85)
s/ cl3sf] gfkmf (4,075.33)
sd{rf/L af]g;
cfos/ Joj:yf
s/ kl5sf] gfkmf (4,075.33)

17
 s/ kf]l5sf] gfkmf cNof (88,958.53)
gfkmfsf] af+8kmf8
;dfof]hg
nfef+z
jf;nftdf ;/]sf] ;+lrt gfkmf gf]S;fg (93,033.86)

gub k|jfx ljj/0f ->fj0f !, @)&& b]lv cfiff9 #!, @)&*_ -?=xhf/df_
ljj/0f /sd
;+rfng ultljlw af6 gub k|afx
Aofh clwsf] gfkmf (4,075)
;dfof]hg
Xf; s6L 978
rfn' k'hLdf kl/jt{g cl#sf] gub k|afx (3,097)
rfn' ;DktLdf ePsf] kl/jt{g (104,296)
rfn' bfloTjdf ePsf] kl/jt{g 552,711
u}/ rfn' bfloTjdf ePsf] kl/jt{g 9,855
;+rfng ultljlw af6 gub k|afx 455,172
nufgL ultljlw af6 gub k|afx
l:y/ ;DktL vl/b -las|L_ (152)
lgdf0f{lwg ;DktLdf sld -j[l4_ (1,581,943)
nufgL ultljlw af6 gub k|afx (1,582,095)
ljlQo ultljlw af6 gub k|afx
bL3{sfnLg shf{df ePsf] kl/jt{g 1,132,725
z]o/ k'hLdf ePsf] kl/jt{g
z]o/ afkt clu|d e'QmfgLdf ePsf] kl/jt{g
ljlQo ultljlw af6 gub k|afx 1,132,725
jif{df ePsf] v'b gub k|afx 5,802
gub tyf gub a/fa/sf]] z'? df}Hbft 14,980
jif{sf] cGTodf /x]sf] gub tyf gub a/fa/sf]] df}Hbft 20,782

v_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf] cj:yfdf ;+rfng cjlwe/sf]
n]vfk/LIf0f ePsf] gfkmf gf]S;fg, jf;nft ;lxtsf] ;+lIfKt ljQLo ljj/0f -;xfos sDkgL eP ;dli6s[t ?kdf_ M

jf;nft -?=xhf/df_
ljj/0f cf=j= @)&%÷)&^ cf=j= @)&^÷)&& cf=j= @)&&÷)&*
;DktL
u}/ rfn' ;DktL
l:y/ ;DktL 190,386 161,240 136,201

lgdf{0flwg kl/of]hgf nfut 3,492,650 5,290,270 6,896,427

hDdf u}/ rfn' ;DktL 3,683,036 5,451,511 7,032,628

rfn' ;DktL
gub tyf gub a/fa/ 2,891 14,980 20,782

k]ZsL / df}Hbft 382,191 408,064 512,360

hDdf rfn' ;DktL 385,081 423,044 533,142

hDdf ;DktL 4,068,118 5,874,554 7,565,770

k"hL / bfloTj
z]o'wgLsf] k'hL
z]o/ k'hL 1,182,110 1,462,376 1,462,376

z]o/ afkt clu|d e'QmfgL 148,600

;|+lrt gfkmf. -gf]S;fg_ (83,215) (88,959) (93,034)

hDdf k'hL 1,247,494 1,373,417 1,369,342

u}/ rfn' bfloTj

bL#{sfnLg shf{ 2,060,979 3,324,331 4,457,057

cGo u}/ rfn' bfloTj 17,164 28,245 38,100

hDdf u}/ rfn' bfloTj 2,078,143 3,352,576 4,495,156

rfn' bfloTj
;G8«L s|]L86/x? 167,182 306,022 358,035

la\h Uofk shf{ 558,262 809,027 1,311,496

cGo e'Stfg of]Uo 17,036 33,512 31,740

hDdf rfn' bfloTj 742,480 1,148,561 1,701,272

hDdf k"hL tyf u}/ rfn' bfloTj 4,068,118 5,874,554 7,565,770

Gffkmf ÷ gf]S;fg lx;fa -?=xhf/df_

ljj/0f cf=j= @)&%÷)&^ cf=j= @)&^÷)&& cf=j= @)&&÷)&*
cfo -

18
 ljB't ljls|af6 cfDbfgL - - -

a}s+ Aofh cfDbfgL 102.39 - -

cGo cfDbfgL - - -

hDdf cfo 102.39 - -

vr{ - - -

ljw't KnfG6 ;+rfng vr{ - - -

k|zf;gLs vr{ 5,157.94 4,596.34 3,097.48

Xf; s6L, Aofh / s/ cl3sf] gfkmf (5,055.55) (4,596.34) (3,097.48)

ljlQo vr{ - - -

Xf; s6L (1,219) (1,147) (966.85)

s/ cl3sf] gfkmf (6,274.42) (5,743.11) (4,075.33)

sd{rf/L af]g; -
cfos/ Joj:yf -
s/ kl5sf] gfkmf (6,274.42) (5,743.11) (4,075.33)

s/ kl5sf] gfkmf cNof (76,941.00) (83,215.43) (88,958.53)

gfkmfsf] af+8kmf8
;dfof]hg - - -

nfef+z - - -

jf;nftdf ;/]sf] ;+lrt gfkmf gf]S;fg (83,215.43) (88,958.53) (93,033.86)

gub k|jfx ljj/0f -?=xhf/df_

ljj/0f cf= j= @)&%÷)&^ cf= j= @)&^÷)&& cf= j= @)&&÷)&*
;+rfng ultljlw af6 gub k|afx
Aofh cl3sf] gfkmf (6,274) (5,743) (4,075)
;dfof]hg
Xf; s6L 1,219 1,147 978
rfn' k'hLdf kl/jt{g cl3sf] gub k|afx (5,056) (4,596) (3,097)
rfn' ;DktLdf ePsf] kl/jt{g 56,498 (28,419) (104,296)
rfn' bfloTjdf ePsf] kl/jt{g 66,647 408,626 552,711
u}/ rfn' bfloTjdf ePsf] kl/jt{g 12,292 11,080 9,855
;+rfng ultljlw af6 gub k|afx 130,381 386,691 455,172
nufgL ultljlw af6 gub k|afx
l:y/ ;DktL vl/b -las|L_ (79,782) (602) (152)
lgdf0f{lwg ;DktLdf sld -j[l4_ (1,639,259) (1,769,019 (1,581,943
nufgL ultljlw af6 gub k|afx (1,719,041) (1,769,621) (1,582,095
ljlQo ultljlw af6 gub k|afx
bL3{sfnLg shf{df ePsf] kl/jt{g 1,439,403 1,263,352 1,132,725
z]o/ k'hLdf ePsf] kl/jt{g 1,800 280,266
z]o/ afkt clu|d e'QmfgLdf ePsf] kl/jt{g 148,600 (148,600)
ljlQo ultljlw af6 gub k|afx 1,589,803 1,395,018 1,132,725
jif{df ePsf] v'b gub k|afx 1,144 12,089 5,802
gub tyf gub a/fa/sf]] z'? df}Hbft 1,747 2,891 14,980
jif{sf] cGTodf /x]sf] gub tyf gub a/fa/sf]]
df}Hbft 2,891 14,980 20,782

-u_ cfly{s aif{ ;dfKt ePsf] ^ dlxgf kZrft ljj/0fkq :jLs[tLsf] nfuL k]z u/]df pQm cGtl/d cjlwsf] nflu n]vfkl/Ifsaf6
k|dfl0ft u/]sf] ckl/is[t ljlQo ljj/0f M
jf;nft kf}if #), @)&* -?=xhf/df_
cf=j=@)&*÷)&( sf] kf}if d;fGtsf]
k"FhL / bfloTj ckl/is[t ljQLo ljj/0f
k"FhL tyf u}/ rfn' bfloTj
z]o/wgLsf] k'FhL 1,368,358
1,462,376
z]o/ k'FhL
z]o/ afkt clu|d e'QmfgL
;+lrt gfkmf . -gf]S;fg_ (94,018)
shf{
a}+s tyf ljlQo ;+:yf af6 k||fKt shf{ 5,980,660
;+rfnsx? af6 k||fKt shf{
u}/ rfn' bfloTj
l/6]G;g afktsf] /sd 39,850
hDdf kF"hL tyf u}/ rfn' bfloTj 7,388,868
;DklQ
l:y/ ;DklQ 125,746
lgdf{0fflwg kl/of]hgf nfut 7,320,701

19
 nufgL
k]ZsL tyf cGo rfn' ;DklQ
gub tyf gub a/fa/ 80,570
g]kfn ljB't k|flws/0f
cGo rfn' ;DklQ 375,984
hDdf rfn' ;DklQ 456,553
Go'gM
rfn' bfloTj 514,133
v'b rfn' ;DklQ (57,579)
hDdf ;DklQ 7,388,868

Gffkmf ÷gf]S;fg lx;fa ->fj0f !, @)&* b]lv kf}if #), @)&*_ -?=xhf/df_
cf=j=@)&*÷)&( sf] kf}if d;fGtsf]
ljj/0fl ljj/0f
ckl/is[t ljQLo ljj/0f
ljB't ljlqmaf6 cfDbfgL
-
Aofh tyf cGo cfDbfgL
hDdf cfo -
vr{ -
/f]oN6L vr{ -
k]GN6L
k|zf;gLs vr{ 357.20
Xf; s§L, Aofh / s/ cl#sf] gfkmf 357.20
Xf; s§L 627.00
Aofh tyf s/ cl3sf] gfkmf (983.77_
ljlQo vr{
s/ cl3sf] gfkmf
sd{rf/L af]g; (983.77)
cfos/ Joj:yf
s/ kl5sf] gfkmf
s/ kl5sf] gfkmf cNof (983.77)
gfkmfsf] af+8kmf8 (93,033.87)
;dfof]hg
nfef+z
jf;nftdf ;/]sf] ;+lrt gfkmf gf]S;fg (94,017.64
gub k|jfx ljj/0f ->fj0f !, @)&* b]lv kf}if #), @)&*_ -?=xhf/df_
cf=j=@)&*÷)&( sf] kf}if d;fGtsf]
ljj/0f
ckl/is[t ljQLo ljj/0f
;+rfng ultljlw af6 gub k|afx
Aofh cl3sf] gfkmf -984_
;dfof]hg
Xf; s§L 627
ljlQo vr{
rfn' k'FhLdf kl/jt{g cl3sf] gub k|afx -357_
rfn' ;DktLdf ePsf] kl/jt{g 136,377
rfn' bfloTjdf ePsf] kl/jt{g 126,107
;~rfng ultljlwaf6 cfos/ e'QmfgL cl3sf] gub k|afx 262,127
cfos/ e'QmfgL
;+rfng ultljlw af6 gub k|afx 262,127
nufgL ultljlw af6 gub k|afx
l:y/ ;DktL vl/b -laqmL_ -414,446_
nufgLdf sld -j[l4_
nufgL ultljlw af6 gub k|afx -414,446_
ljQLo ultljlw af6 gub k|afx
z]o/ k'FhL hf/L
shf{df ePsf] kl/jt{g 212,107
nfef+z e''QmfgL
ljlQo vr{
ljlQo ultljlw af6 gub k|afx 212,107
gub tyf gub a/fa/sf]] z'? df}Hbft 20,782
jif{df ePsf] gub k|afx 59,788
jif{sf] cGTodf /x]sf] gub tyf gub a/fa/sf]] df}Hbft 80,570

20
-3_ cfDbfgL / vr{ lx;fjsf] s'g} zLif{sdf 7'nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds sf/0f M ;f] gePsf] .
-ª_ kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft ;+ul7t ;+:yfsf] sf/f]af/, gfkmf gf]S;fg, ;DklQsf] d'No jf cfufdL !@ dlxgfsf]
bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f] ;DaGwdf ;~rfnsx?sf] wf/0ff M ;f] gePsf]
-r cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, ljj/0fkq k]z u/]sf] ldltaf6 :jLs[lt x'g] ldlt;Dddf jf;nftsf] ldlt kl5sf]
36gfsf] jf/]df 5'§} hfgsf/L ljj/0fkqdf ;dfj]z ug'{kg]{ M ;f] gePsf] .
-5_ ljut % jif{df ;DklQsf] k'gd"{Nof+sg ul/Psf] 5÷5}g, olb ul/Psf] eP -c_ ;DklQsf] ljj/0f -cf_ ;DklQsf] k'gd"{Nof+sg cl3 /
kl5sf] lstfjL d"No -O{_ k'gd"{Nof+sgsf] cf}lrTo M ;f] gePsf] .

-h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf gf]S;fg lx;fasf ;fy} To;sf u0fgfsf] cfwf/x? M sDkgLsf] cfufdL # cfly{s jif{sf] nflu
k|If]lkt ljQLo l:ylt b]xfo adf]lhd /x]sf] 5 .
jf;nft -?=xhf/df_
k|If]lkt
ljj/0f cf= j= cf= j= cf= j=
2078÷2079 2079÷2080 2080÷2081
k"FhL tyf u}/ rfn' bfloTj
z]o'wgLsf] k"FhL 1,547,982 1,809,592 1,859,800
z]o/ k"FhL 1,827,970 1,827,970 1,827,970
z]o/ afkt clu|d e'QmfgL
;+lrt gfkmf . -gf]S;fg_ -279,988_ -18,378_ 31,830
shf{
a}+s tyf ljQLo ;+:yf af6 k||fKt shf{ 5,876,218 5,702,758 5,313,658
;~rfnsx?af6 k||fKt shf{
u}/ rfn' bfloTj
l/6]G;g afktsf] /sd 40,000 30,000 25,000
hDdf kF"hL tyf u}/ rfn' bfloTj 7,464,200 7,542,350 7,198,458
;DklQ
l:y/ ;DklQ 7,348,533 7,085,543 6,825,534
lgdf{0fflwg kl/of]hgf nfut
nufgL
k]ZsL tyf cGo rfn' ;DklQ
gub tyf gub a/fa/ 145,124 287,275 418,168
222,317 232,743 239,428
g]kfn ljB't k|flws/0f
cGo rfn' ;DklQ 43,000 45,300 47,730
hDdf rfn' ;DklQ 410,442 565,318 705,326
Go'gM
rfn' bfloTj 294,775 108,510 332,402
v'b rfn' ;DklQ 115,667 456,807 372,924
7,464,200 7,542,350 7,198,458
hDdf ;DklQ

gfkmf– gf]S;fg lx;fa /sd -?=xhf/df_

k|If]lkt
ljj/0f cf= j= cf= j= cf= j=
2078÷2079 2079÷2080 2080÷2081
ljB't ljlqmaf6 cfDbfgL 318,519=69 1,177,197=64 1,211,565=96
Aofh tyf cGo cfDbfgL
hDdf cfo 318,519=69 1,177,197=64 1,211,565=96
vr{
/f]oN6L vr{ 7,720=39 27,143=95 27,831=32
k]GN6L 85,657=96
k|zf;gLs vr{ 26,403=02 91,332=44 92,608=03
Xf; s§L, Aofh / s/ cl#sf] gfkmf 198,738=32 1,058,721=24 1,091,126=61
Xf; s§L -110,721_ -262,990_ -260,009_

Aofh tyf s/ cl3sf] gfkmf 88,017=79 795,730=94 831,117=77

ljlQo vr{ -274,972=00_ -528,781=56_ -500,093=85_

s/ cl3sf] gfkmf -186,954=21_ 266,949=38 331,023=92

sd{rf/L af]g; -5,339_ -6,620_

cfos/ Joj:yf
s/ kl5sf] gfkmf -186,954=21_ 261,610=39 324,403=44
s/ kl5sf] gfkmf cNof -93,033=87_ -279,988=08_ -18,377=69_

21
 gfkmfsf] af+8kmf8
;dfof]hg
nfef+z -274,196_
jf;nftdf ;/]sf] ;+lrt gfkmf gf]S;fg -279,988=08_ -18,377=69_ 31,830=25

ljQLo k|If]k0fsf cfwf/ tyf tl/sf M

k|If]lkt
ljj/0f
cf=j=2078/2079 cf=j=2079/2080 cf=j=2080/2081
s'n cfodf cf}ift a[l4b/ 100% 269.58% 2.92%

s'n vr{df cf}ift a[l4b/ -Aofh / x|f; afx]s_ 3,767.06 (1.09%) 1.66%

;+rfng vr{ tyf s'n cfDbfgL cg'kft 10.71% 10.06% 9.94%

v'b d'gfkmfdf cf}ift a[l4b/ (4687%) 243% 24%

cfos/ Aoj:yf -k|ltztdf_ 0.00% 0.00% 0.00%

k|lt z]o/ cfDbfgL -?=_ (10.23) 14.31 17.75
z]o/df k|ltkmn (10.23%) 14.31% 17.75%

;DklQdf k|ltkmn (2.50%) 3.47% 4.51%

— —
kl/of]hgfsf] hDdf nfut -?= xhf/df_ 7,655,949,483

kl/of]hgfsf] k|lt d]ufjf6 nfut -?= xhf/df_ 212,665,263.43 — —

s'n jt{dfg d'No (NPV) -?= xhf/df_ 1,874,525.45 — —

cfGtl/s k|ltkmn b/ (IRR) 12.74% — —

nufgL lkmtf{ cjlw 7.54 — —

l8:sfpG6 ul/Psf] nufgL lkmtf{ cjlw 14.10 — —

k|If]k0f ul/Psf] ljlQo ljj/0fx?sf] d'Vo cg'dfg tyf cfwf/x? b]xfo adflhd /x]sf] 5 M

1. cfof]hgf lgdf{0f
sDkgLn] cfkm\g} ;|f]t / ;fwfg k|of]u u/L cfof]hgfsf] l;len lgdf{0f sfo{ tyf Joj:yfksLo sfo{ ub}{ /x]sf] 5 eg] cGo sfo{sf] nfuL 7]s]bf/
lgo'Qm ul/Psf] 5 .
2. lg/Gt/tfsf] cjwf/0f
cfof]hgfsf] ljB't pTkfbg cg'dtLkqsf] zt{ cg';f/ cg'dtLkq axfn /xg] cjlwkZrft cfof]hgf sDkgLsf] :jfldTjdf /xg] 5}g .

3. ;+rfng, lgdf{0f tyf ;DktL

▪ cfof]hgfsf] lgdf{0f sfo{ / ;f] kZrftsf] kl/If0f k|;f/0f ;d]t @)&* kmfNu'0f dlxgfsf] @ ut] ;DkGg eO{ @)&*.!!.!& ut] b]lv Jofkf/Ls pTkfbg
z'? x'g] cg'dfg /x]sf] 5 . cfof]hgfsf] lgdf{0fsf] nfuL ?= 7,655,949 xhf/ nfut nfUg] ;+zf]lwt cg'dfg /x]sf] 5 . o; nfutdf dfly a'bf+ ! df
pNn]v ePcg';f/ l;len lgdf{0fsf] nfuL cfjZos eO{ vl/b ul/Psf] lgdf{0f pks/0fx? tyf cfof]hgf ;+u ;DalGwt ePsf] cGo ;DktLsf] nfut
hDdf ?= 245,645.22 xhf/ ;dfj]z ul/Psf] 5 . lgdf{0f nfutsf] >f]tsf nfuL shf{ k|fKt x'g] cg'dfg /x]sf] 5 .

▪ g]kfn ljB't k|flws/0f;Fu ePsf] ljB't v/Lb – laqmL ;Demf}tf cg';f/ Jofkf/Ls pTkfbg ;'? eP kZrft ljB't laqmLaf6 k|fKt x'g] /sddf jif{sf]
clGtd b'O dlxgfsf] lan /sd aSof}tfsf] ?kdf /xg] u/L k|If]k0f ul/Psf] 5 .

4. cfDbfgL
cfof]hgfn] g]kfn ljlB't k|flws/0f ;+u ePsf] PPA cg';f/ Jofkf/Ls pTkfbg z'? x'g] ldlt af6 k|flws/0fnfO{ PPA df pNN]v ePsf] kl/df0f /
b/df ljB't lals| ug]{5 . PPA cg';f/ cfof]hgfsf] Jofkf/Ls pTkfbg z'? ug'{kg{] ldlt @)&^.%.@# /x]sf]df @)&*.!!.!& df dfq Jofkf/Ls
pTkfbg z'? x'g] cg'dfg /x]sf 5 . cfof]hgfsf] lgdf{0f sfo{ ljZje/ km}lnPsf] sf]le8 !( dxfdf/L tyf dg;'gsf] k|lts'n k|efjsf] sf/0f l9nf
ePsf]n] PPA cg';f/ pQm cjlwsf] nfuL sfa'aflx/sf] kl/l:ytL sfod ug{ cg'/f]w u/]sf] / ;f] cfwf/df cfof]hgfsf] Jofkf/Ls pTkfbg z'?
ug'{kg{] ldlt yk x'g] cg'dfg /x]sf] 5 . oBkL cfDbfgL k|If]k0f ubf{ PPA cg';f/ k|fKt x'g] * j6f dWo] & j6f dfq d'No clej[l4 k|fKt x'g] cg'dfg
ul/Psf] 5 .
dfly a'bf+ ! df pNn]v ePcg';f/ l;len lgdf{0fsf] nfuL cfjZos eO{ vl/b ul/Psf] lgdf{0f pks/0fx? sf] lg;u{ af6 k|fKt x'g ;Sg] cfDbfgL tyf
;f] sf] a}sNkLs k|of]uaf6 x'g ;Sg] cfDbfgL k|If]k0fdf ;dfj]z ul/Psf] 5}g .

22
5. vr{
▪ /f]oN6L M ;+rngsf] !% jif{ ;Dd k|ltlsnf]jf6 ?= !)).)) / cfDbfgLsf] @ k|ltzt /f]oN6L vr{ x'g] / ;f] kZrft /f]oN6L vr{ j[l4 x'g]
cg'dfg /x]sf] 5 .
▪ cfof]hgf ;+rfng Joj:yfkg tyf k|zf;gLs vr{ M cfof]hgf ;+rfng Joj:yfkg tyf k|zf;gLs vr{ jflif{s tLg k|ltztsf] xf/fxf/Ldf
j[l4 x'g] cg'dfg /x]sf] 5 . o4kL cf=a= @)&*.&( df lgdf{0f cjlwsf] vr{ k'hLs/0f x'g] / $ dlxgf !% lbgsf] vr{ gfkmf gf]S;fgdf
lx;fadf vr{ n]vf+sg x'g] cg'dfg /x]sf] 5 .
▪ ddt{ vr{ M cfof]hgfsf] ddt{ vr{ # b]lv % k|ltztn] j[l4 x'g] cg'dfg /x]sf] 5 .
▪ ladf vr{{ M cfof]hgf ;Da4 ;DktL / cGo l:y/ ;DktLsf] lstfaL d'No / cfDbfgL ;d]tsf] gf]S;fgLsf] nfuL k|lt xhf/ ?= @.&% sf
b/n] ladf vr{ cg'dfg ul/Psf] 5 . o; cg'dfg cg';f/ ;DktLsf] lstfaL d'No 36\b} hfg] ePsfn] ladf vr{ ;d]t 36\g] cg'dfg /x]sf]
5.
▪ Xf; vr{ M cfof]hgf ;+rfngsf nfuL cfjZos hUuf, lgdf{0f, nufot k'lh+s/0f ul/Psf] vr{ ;d]tsf] nfut cfof]hgfsf] cg'dtL kq
cg';f/sf] cjlw leq vr{ n]Vg] u/L SLM ljlw cfg';ff/ Xf; sl6 ul/Psf] 5 . cfof]hgf lgdf{0fsf nfuL vl/b ul/Psf] pks/0f /
cGo :jtGq pkof]u ug{ ;lsg] ;DktLdf WDV ljlw cfg';ff/ Xf; sl6 ul/Psf] 5 .
▪ Aofh vr{ tyf ;fjf+ e'QmfgL
;xljlQos/0f af6 k|fKt shf{sf] e'QmfgL tfnLsf Jofkf/Ls pTkfbg z'? ePkZrft tof/ u/Lg] ePsfn] k|If]k0f ubf{ q}df;Ls ?kdf
;f+jfsf] e'QmfgL ug]{ / s|lds ?kdf e'QmfgL /sd j[l4 x'g] cg'dfg ul/Psf] . shf{sf] Aofh ( k|ltzt tyf ;Demf}tf cg';f/sf] z'Ns ;d]t
q}df;Ls ?kdf e'QmfgL ug]{ cg'dfg cg';f/ k|If]k0f ul/Psf] 5 .
▪ Sd{rf/L af]gz
sd{rf/L af]gz vr{ @ k|ltzt x'g] cg'dfg /x]sf] 5 .
▪ cfos/
cfof]hgfsf] cfodf klxnf] !) jif{ zt k|ltzt s/ 5'6 x'g], To;kl5sf] kfr jif{ krf; k|ltzt s/ 5'6 x'g / To;kl5sf jif{df @)
k|ltzt cfos/ nfUg] cg'dfg /x]sf] 5 .
dfly pNn]v ul/P adf]lhd sDkgLaf6 tof/ u/]sf] ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? sDkgLsf] cf= j= @)&&÷)&* ;Ddsf]
n]vfkl/If0f e};s]sf ljlQo ljj/0fx?, g]kfn ljB't k|flws/0f ;Fu ePsf] ljB't v/Lb – laqmL ;Demf}tf, cfof]hgfsf] ;dflKtsf] cjlw tyf To;
cj:yf;Ddsf] nfutsf] cg'dfg, cfof]hgfsf] nflu C0f lng] ;DaGwdf sd{rf/L ;+ro sf]if, lrlnd] hnljB't sDkgL tyf sDkgL lar ePsf] lqklIfo
;Demf}tf, xfnsf] ljb]zL d'b«f ljlgdo b/ / ;f] sf] k|If]k0f Pj+ /fHosf] cg'dflgt ljlQo tyf df}lb«s l:ylt ;fy} lgisfzg sDkgLsf] xfnsf] bIftf /
lgisfzg sDkgLn] k|fKt u/]sf] xfn;Ddsf] sfo{k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL >L Pg= P;= P P08 Pzf]l;o6\;, rf6{8{
PsfpG6]06\;, sf7\df08f}sf kf6{g/ rf6{8 PsfpG6]G6 >L cfef; uf}tdn] k|dfl0ft ug'{ ePsf] 5 .

u=(=v=ljQLo cg'kft ;DaGwL ljj/0f M

-s_ ;~rfng cjlw tLg aif{ AotLt e};s]sf] cj:yfdf ljut tLg aif{sf] / tLg aif{ AotLt e}g;s]sf] cj:yfdf ;~rfng
cjlwsf] tyf cfufdL tLg aif{sf] k|If]lkt k|lt z]o/ cfDbfgL (EPS) tyf k|lt z]o/ g]6jy{ M
sDkgLsf] g]6jy{ tyf k|lt z]o/ cfDbfgLdf ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd /x]sf] 5 M
n]vf k/LIf0f ;DkGg ePsf] cf=j=)&*.&( k|If]lkt
kf}if d;fGt
cf= j= cf= j= cf= j= ;Ddsf]
ljj/0f ckl/is[t cf= j= cf= j= cf= j=
2075/2076 2076/2077 2077/2078
ljQLo ljj/0f 2078/2079 2079/2080 2080/2081

;fwf/0f z]o/ jfkt k"+hL -?=xhf/df_ 1,182,109.69 1,462,376.00 1,462,376.00 1,462,376.00 1,827,970.00 1,827,970.00 1,827,970.00

z]o/ lk|ldod -?= xhf/df_ - - - - - - -

z]o/ cfj]bg /sd -?= xhf/df_ 148,600.00 - - - - - -

;+lrt gfkmf gf]S;fg -?= xhf/df_ (83,215.43) (88,958.53) (93,033.87) (94,017.64) -279,988=08_ -18,377=69_ 31,830=25
ckn]vg x'g jf+sL vr{ -?= xhf/df_ - - - - - - -
v"b ;DklQ -g]6 jy{_ -?= xhf/df_ 1,247,494.26 1,373,417.47 1,369,342.13 1,368,358.36 1,547,981.82 1,809,592.31 1,859,800.25

z]o/ ;+Vof -xhf/df_ 13,307.10 14,623.76 14,623.76 14,623.76 18,279.70 18,279.70 18,279.70
k|lt z]o/ g]6jy{ -?=_ 93.75 93.92 93.64 93.57 84.68 98.99 101.74
v"b gfkmf gf]S;fg -?= xhf/df_ (6,274.42) (5,743.11) (4,075.34) (983.77) (186,945.21) 261,610.39 324,403.44
z]o/ ;+Vof -xhf/df_ 13,307.10 14,623.76 14,623.76 14,623.76 18,279.70 18,279.70 18,279.70
k|lt z]o/ cfDbfgL -?=_ (0.47) (0.39) (0.28) (0.07) (10.23) 14.31 17.75

g]6jy{df cf}ift k|ltkmn -k|ltztdf_ (0.50) (0.42) (0.30) (0.07) (12.08) 14.46 17.44

-v_ ljut # aif{sf] g]6jy{df ePsf] cf};t k|ltkmn M

ljj/0f cf= j= 2075/2076 cf= j= 2076/2077 cf= j= 2077/2078 cf};t k|ltkmn M-k|ltztdf_
g]6jy{df cf}ift k|ltkmn -k|ltztdf_ (0.50) (0.42) (0.30) (0.41)
Gff]6M dfly pNn]v ul/P adf]lhd sDkgLaf6 tof/ u/]sf] ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? sDkgLsf] cf= j= @)&&÷)&* ;Ddsf]
n]vfkl/If0f e};s]sf ljlQo ljj/0fx?, g]kfn ljB't k|flws/0f;Fu ePsf] ljB't v/Lb – laqmL ;Demf}tf, cfof]hgfsf] ;dflKtsf] cjlw tyf To;
cj:yf;Ddsf] nfutsf] cg'dfg, cfof]hgfsf] nflu C0f lng] ;DaGwdf ;xljlQos/0f / sDkgL lar ePsf] lqklIfo ;Demf}tf, xfnsf] ljb]zL d'b|f

23
 ljlgdo b/ / ;f] sf] k|If]k0f Pj+ /fHosf] cg'dflgt ljlQo tyf df}lb|s l:ylt ;fy} lgisf;g sDkgLsf] xfnsf] bIftf / lgisf;g sDkgLn] k|fKt u/]sf]
xfn;Ddsf] sfo{k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL >L Pg= P;= P P08 Pzf]l;o6\;, rf6{8{ PsfpG6]06\;, sf7\df08f}sf kf6{g/
rf6{8 PsfpG6]G6 >L cfef; uf}tdn] k|dfl0ft ug'{ ePsf] 5 .

u=!)= lwtf]kq lgisf;g ;DaGwL ljj/0f M

u=!)=s=lwtf]kq hf/L ug'{sf] p2]Zo M

sDkgLn] lwtf]kq hf/L ug'{sf] p2]Zo lgDg adf]hLd /x]sf] 5 M

➢ cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?sf nflu lgisf;g tyf laqmL u/L :yfgLo afl;Gbfx?nfO{ nufgLsf] cj;/ lbg' .
➢ lgisf;gaf6 k|fKt /sdnfO{ sDkgLaf6 lgdf{0fflwg cfof]hgfsf] k"jf{wf/ lgdf{0fsf] nflu a}saf6 lnO{Psf] shf{sf] ;fjfF / Aofh
e'QmfgL ug'{ .
➢ sDkgLaf6 lgdf{0fflwg cfof]hgfsf] k"jf{wf/ lgdf{0fsf nflu /sd ;+sng ug'{ .

u=!)=v= lwtf]kq lgisf;gaf6 k|fKt k'FhLsf] pkof]u M

-s_ lgisf;gaf6 k|fKt x'g] s"n /sdnfO{ s;/L / s'g If]qdf k|of]u ul/g]5 tt\ ;DaGwL ljj/0f M
sDkgLsf] k|aGwkq tyf lgodfjnLdf ePsf] Joj:yf cg';f/ sDkgLn] cfkm\gf] hf/L k"FhL ?=!,*@,&(,&),))).– -cIf/]kL Ps ca{
aof;L s/f]8 pgfgc;L nfv ;Q/L xhf/ dfq_ sf] !)% cyf{t ?=!*,@&,(&,)))/- -cIf]/]kL c7f/ s/f]8 ;QfO; nfv ;GtfgAa]
xhf/ dfq_ /sd a/fa/sf] k|lt z]o/ c+lst d"No ?=!)) b/sf !*,@&,(&) lsQf cfof]hgf k|efljt If]qsf :yflgo afl;Gbfx?df
tyf hf/L k"FhLsf] !)% cyf{t ?=!*,@&,(&,)))/- -cIf]/]kL c7f/ s/f]8 ;QfO; nfv ;GtfgAa] xhf/ dfq_ /sd a/fa/sf] k|lt
z]o/ c+lst d"No ?=!)) b/sf !*,@&,(&) lsQf ;j{;fwf/0fdf ;fj{hlgs lgisfzg eP kZrft pQm k|fKt x'g] hDdf /sd
?=#^,%%,($,)))÷– -cIf?kL 5lQ; s/f]8 kRkGg nfv rf}/fgAa] xhf/ dfq ._ b]xfo adf]lhdsf sfo{x?df pkof]u ul/g] 5 .
l;=g+= /sd ?= ljj/0f
! #^,)),)),)))÷– :yflgo afl;Gbfx? / ;j{;fwf/0fnfO{ z]o/ lgisfzg u/]kZrft k|fKt ?= #^,%%,($,)))
dWo] /sd ? #^,)),)),)))÷– ?k}ofF Unf]an cfOPdO{ a}+sdf /x]sf] Bridge Gap Loan
Against IPO ltg{ k|of]u ul/g] .
@= %%,($,)))÷– Bridge Gap Loan Against IPO sf] Jofh e'QmfgLdf k|of]u ul/g]5 .
hDdf #^,%%,($,)))÷–

-v_ ;fj{hlgs lgisf;g ul/g] lwtf]kq k"0f{ ?kdf ljqmL gePdf ;fj{hlgs lgisf;gsf] nflu p2]Zo k|fKtL ug{sf] nflu ckgfOg] a}slNks
Joj:yfM
cGo hnljB't sDkgLn] lwtf]kq lgisf;g ubf{ ljutdf dfu eGbf a9L z]o/sf] nflu b/vf:t k/L z]o/ sf/f]af/ ;d]t eO{ ;s]sf]5 .
sy+sbflrt lgisf;g ul/g] lwtf]kq :yflgo afl;Gbfx?n] k"0f{ ?kdf vl/b gu/]df af+ls lwtf]kq ;j{;fwf/0fx?sf] nfuL lgisfzg ul/g]
lwtf]kqdf yk ul/g] 5 . ;j{;fwf/0fx?sf] nfuL lgisfzg u/]sf] z]o/ s'g} sf/0fjz k"0f{ ?kdf laqmL gePdf k|Tofe"lt ;Demf}tf adf]lhd
k|Tofe"ltstf{x? qmdzM >L PgPdla Soflk6n lnld6]8, >L ;g/fOh Soflk6n ln, >L lxdfnog Soflk6n ln= / >L s'df/L Soflk6n ln=,
sf7df08f}n] pQm lwtf]kq v/Lb ug{ d~h'/ u/]sf] 5 .

-u_ cfof]hgfsf] ;+rfng :yfg, cfof]hgf r/0fa4 ?ksf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{, s'g} r/0f ;dfKt e};s]sf] eP ;f]
;DaGwL ljj/0f M
cfof]hgf lgdf{0fsf] k|To]s n6sf] cg'dflgt nfut, @)&* df3 !$ ut] ;Dd ;DkGg ePsf] sfdsf] ljj/0f / afFsL /x]sf] sfdsf] /sd
;lxtsf] ljj/0f tn tflnsfdf pNn]v ul/Psf] 5 .
afFsL sfo{
ljj/0f sfo{ k|ult
-k|ltztdf_ /sd -?=s/f]8df_

!= l;len lgdf{0f sfo{ lgdf{0fflwg lgdf{0ff ;DkGg 0

@= xfO8«f] d]sflgsn sfo{ lgdf{0fflwg lgdf{0ff ;DkGg 0

#= On]S6«f] d]sflgsn tyf k|zf;/0f nfOg sfo{ lgdf{0fflwg 1 k|ltzt 0.81

^= lgdf{0f ;dodf nfUg] Aofh tyf vr{ lgdf{0fflwg 11.50

hDdf
cfof]hgfsf] sfo{ ;DkGg ug{ dflysf] tflnsf adf]lhd vr{ x'g] cg'dfg /x]sf] 5 .

-3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Jofj;flos pTkfbg z'? x'g] cg'dflgt ldlt M of] cfof]hgfsf] dflyNnf] jn]kmL æPÆ
hnljB't cfof]hgf -#^ d]=jf=_ ;DkGg x'g] ldlt M @)&*÷!!÷)@, kl/If0f pTkfbg z'? x'g] ldlt M @)&*÷!!÷)@, Joj;flos pTkfbg
z'? x'g] ldlt kl/If0f pTkfbg z'? ePsf] ldltn] !% lbgleq @)&*÷!!÷!& ut] ;Dddf ljB't pTkfbg ug]{ nIo /x]sf] 5.
-ª_ ;+ul7t ;+:yfn] s'g} pks/0f vl/b u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d"No jf k|f:tfljt d"No ;Knfo;{sf] gfd / ;Knfo;{;Fu
;Demf}tf ePsf] eP ;f] sf] d'Vo d'Vo a"Fbfx? M

24
 sDkgLn] vl/b u/]sf] pks/0fsf] d"No M cfof]hgfx?sf] nflu cfjZos Electromechanical equipment, sDkgL / TPSC(INDIA)
Pvt. Ltd. INDIA aLr ePsf] ;Demf}tf adf]lhd ef=?=#$,$),#!,%))÷– a/fa/sf] ;fdfg cfoft ePsf] xf] .

-r_ s'g} kf6L{;Fu k|ltlnlk clwsf/ 6«]8dfs{ Ohfhtkq /f]oN6L ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws ;Demf}tf ul/Psf] eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd 7]ufgf ;DaGwL
lj:t[t ljj/0f M ;f] gePsf] .
-5_ pTkfbg ;DaGwL cfof]hgf eP ;f] sf] k|s[lt k|of]ustf{ k|lt:kwf{ nlIft ;d"x, pTkfbg Ifdtf ljut jif{x?sf] Ifdtf pkef]u jf
eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0f M sDkgLaf6 lgdf{0fflwg an]kmL hnljB't cfof]hgfsf] pTkfbg Ifdtf #^ d]ufjf6 /xg] 5.
-h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknJwtf / To;sf] >f]t M afudlt c~rnsf] l;Gw'kfNrf]s lhNnfsf] an]kmL gbLsf] kfgL /
;f] ;|f]t pkof]usf nflu phf{ dGqfnoaf6 #% jif{sf nflu cg'dlt kq k|fKt ePsf] 5 .
-em_ cfof]hgfsf] nflu cfjZos x'g] ljB't, kfgL, Uof;sf] dfqf / To;sf] >f]t M afUdtL c~rnsf] l;Gw'kfNrf]s lhNnfsf] an]kmL gbLsf] kfgL.
-`_ ;fj{hlgs lgisf;gsf] nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Nsx? 5'§f5'§} ?kdf k|:t't ug'{ kg]{ .
c_ lgisf;g tyf laqmL k|aGws — ?=#,%),))).–
-cf_ 6«i6L -l8j]Gr/ lgisfzgsf] xsdf_ — lgisf;g ul/g] l8j]Gr/ geO{ ;fwf/0f z]o/ ePsf] .
O{_ k|Tofe"ltstf{ z'Ns — lgDg adf]lhd /x]sf] 5 .
l;=g+= k|Tofe"ltstf{x?sf] gfd k|Tofe"t /sd -g]=?=_ k|Tofe"t z'Ns -g]=?=_
!= PgPdla Soflk6n lnld6]8 !@,%%,($,)))=)) !*,^(,(@%=))
@= ;g/fOh Soflk6n lnld6]8 !@,)),)),)))=)) !#,%),)))=))
#= lxdfnog Soflk6n lnld6]8 ^,)),)),)))=)) ^,&%,)))=))
$= s'df/L Soflk6n lnld6]8 ^,)),)),)))=)) ^,&%,)))=))
hDdf #^,%%,($,)))=)) $%,^(,(@%=))
-O_ lj1x?sf] kfl/>lds jf ;]jf z'Ns– ljlQo k|If]k0f tof/ ul/lbg] ljz]if1nfO{ ;]jf z'Ns jfkt /sd ?= !)),)))÷– -d'=c=s/
afx]s_ a'emfOg] 5 .
-p_ n]vfkl/Ifssf] z'Ns — n]vfkl/IfsnfO lbg] z'Ns ?= @,)),)))÷– -d'=c=s/ afx]s_ .
-pm_ cGo -h:t} ;+sng s]Gb|, lgisfzg a}+s cflb_— ;+sng s]Gb| tyf lgisf;g a}+snfO{ s'g} ;]jf z'Nssf] Joj:yf ul/Psf] 5}g .
u=!)=u= ;fj{hlgs lgisf;gaf6 k|fKt /sdnfO{ cfof]hgfdf k|of]u ug{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf] 5 eg] tT;DaGwL ljj/0fM xfn;Dd To:tf]
s'g} Joj:yf ul/Psf] 5}g .

u=!)=3= lk|ldoddf lwtf]kq hf/L ug]{ ePdf M z]o/sf] d'Nodf lk|ldod yk ul/Psf] 5}g .
u=!)=ª= lwtf]kqsf] afF8kmfF6, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL ljj/0f M
-s_ cToflws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmFf6sf] k|s[of M
o; ljj/0fkq dfkm{t hf/L ul/Psf] ;fwf/0f -:yflgo tyf ;j{;fwf/0f_ z]o/ ;+VofeGbf cToflws dfu eO{ b/vf:t k|fKt x'g cfPdf
g]kfn lwtf]kq jf]8{sf] k|rlnt ælwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$Æ df ePsf] Aoj:yf cg';f/ ;fwf/0f z]o/x?
afF8kmfF6 ul/g]5 / z]o/ afF8kmfF6 ;DjGwL ;"rgf /fli6«o :t/sf] b}lgs klqsfdf k|sflzt ul/g]5 .

!= z]o/ afF8kmfF6 ubf{ ;a{k|yd ;a} cfj]bsnfO{ !) -bz_ lsQfsf] b/n] afF8kmfF6 ul/g] 5 .
@= a'Fbf -!_ adf]lhd afF8kmfF6 u/] kZrft afFsL /x]sf] lgisflzt z]o/ cfj]bsx?nfO{ k'gM !) -bz_ lsQfsf] b/n] afF8kmfF6 ul/g] 5 .
#= a'Fbf -@_ adf]lhd z]o/ afF8kmfF6sf] k|s[of ;DkGg eP kZrft\ lwtf]kq afFsL ePdf ;f]lx k|s[of ckgfO{ afF8kmfF6 ul/g] 5 .
$= pk/f]Qmfg';f/ z]o/ afF8kmfF6 ubf{ !) lsQfsf b/n] ;a} cfj]bsx?nfO{ afF8kmfF6 ug{ ck'u x'g] cj:yfdf Go"gtd bz lsQf kfpg]
ul/ uf]nf k|yfaf6 cfj]bs 5gf}6 ul/ ul/g] 5 .
%= z]o/ afF8kmfF6 ;km\6j]o/ tyf afF8kmfF6 tflnsfsf ;DaGwdf af]8{sf] ;xdlt lnO{g]5 .
^= z]o/ afF8kmfF6sf] hfgsf/L afF8kmfF6 u/]sf] ef]nLkN6;Dddf af]8{, lwtf]kq ahf/ tyf ;j{;fwf/0fnfO{ hfgsf/L u/fOg] 5 .
&= sDkgLsf sd{rf/Lx?nfO{ z]o/ afF8kmfF6 ubf{ sDkgLsf] ;~rfns ;ldltsf] lg0f{o adf]lhd ul/g]5 . ;fy}, Go"g dfu ePsf]
cj:yfdf dfu eP adf]lhdsf] z]o/ cfj]bsnfO{ afF8kmfF6 u/L afF8kmfF6 x'g afFsL /x]sf] z]o/ ;+ul7t ;+:yf / k|Tofe"tLstf{ jLr
ePsf] k|Tofe"t ;DjlGw ;Demf}tf adf]lhd k|Tofe'tstf{n] vl/b ug]{5 .
-v_ cToflws dfu ePsf] jf afF8kmfF6 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DjGwL Joj:yfM cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?sf]
xsdf afF8kmfF6 gePsf] cj:yfdf lkmtf{ e'QmfgL IPS dfkm{t lghx?n] cfj]bg kmf/ddf pNn]v u/]sf] a}+s vftfdf /sdfGt/0f ul/g]
Joj:yf /x]sf] 5 . ;j{;fwf/0fsf] xsdf z]o/ jfktsf] cfj]bg lng] sfo{ lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DalGw lgb]{lzsf, @)&#
-cf:jf_ df ePsf] Joj:yf adf]lhd ;xeflu a}+saf6 x'g]5 . pQm lgb]{lzsfsf] Joj:yf adf]lhd cfj]bssf] vftfdf g} cfj]bg /sd /f]Ssf
/flvg] ePsf]n] z]o/sf] cToflws dfu eO{ k|To]s cfj]bsn] dfu u/] adf]lhdsf] z]o/ afF8kmfF6 ug{ g;lsg] cj:yfdf lghnfO{ afF8kmfF6
ePsf] z]o/ jfktsf] /sd dfq dfu u/L afFsL /sd ;f]xL vftfdf sfg'g adf]lhd ;xeflu a}+saf6 g} /f]Ssf km's'jf x'g] Joj:yf
ldnfO{g]5 .
-u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO{ ePdf lbOg] Jofhb/ M ælwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$Æ n] lgwf{l/t
u/]sf] ;doleq z]o/sf] afF8kmfF6kq tyf /sd lkmtf{ e'QmfgL lbg g;lsPdf z]o/sf] ljqmL aGb ePsf] ldltb]lv /sd lkmtf{ e'QmfgL lbg
z'? u/]sf] cl3Nnf] lbg;Ddsf] ;/sf/L C0fkqsf] k|rlnt clGtd Jofhb/sf] cfwf/df x'g cfpg] Aofh ;lxt lx;fj u/L /sd lkmtf{
e'QmfgL ul/g] Joj:yf /x]sf]df o; lgisfzgdf lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DalGw lgb]{lzsf, @)&# -cf:jf_ n] u/]sf] Joj:yf
adf]lhd cfj]bg dfu ug'{kg]{ ePsf], h; cg';f/ cfj]bss} a}+s vftfdf /sd /f]Ssf x'g] Joj:yf /x]sf] .
-3_ lwtf]kqsf] afF8kmfF6 tyf k|df0fkq hf/L ;DjGwL k|s[of / ;dofjwL M lgisfzg ul/g] ;fwf/0f z]o/ ælwtf]kq lgisfzg tyf aFf8kmFf6
lgb]{lzsf, @)&$Æ df ePsf] Joj:yf cg';f/ ;fwf/0f z]o/sf] afF8kmfF6 u/L ;"lrs/0f eP kZrft ælwtf]kq s]lGb|o lgIf]k ;]jf
lgodfjnL, @)^&Æ sf] lgod @$ sf] pklgod & adf]lhd ;DalGwt z]o/wgLsf] lxtu|fxL vftfdf cef}lts ?kdf z]o/ hDdf ul/g]5 .

25
 -ª_ lwtf]kq ;"lrs/0f e};s]sf] eP To:tf] lwtf]kq ;"lrs/0f ul/Psf] lwtf]kq ahf/sf] gfd lwtf]kq sf/f]jf/ z'? x'gsf] nflu ;+ul7t :f+: yfn]
k"/f ug'{kg]{ zt{x? ;DalGw ljj/0f M ;f] gePsf] .
-r_ lwtf]kq ;"lrs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisfzg tyf ljqmL ul/g] lwtf]kqx? k|rlnt P]g, lgod cg';f/ ;xh v/Lb/laqmL jf
ljlgdo x'g ;Sg] u/fpgsf] nflu ul/g] Joj:yf ;DaGwL ljj/0f M o; ljj/0fkq cg';f/ hf/L ul/Psf] ;fwf/0f z]o/x? lwtf]kq lgisfzg
tyf afF8kmfF6 lgb]{lzsf, @)&$ df ePsf] Joj:yf cg';f/ afF8kmfF6 u/L bf];|f] jhf/df sf/f]jf/ x'g] Joj:yfsf] nflu g]kfn :6s PS;r]~h
ln=df ;"rLs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df btf{ u/fO{ sf/f]jf/ x'g] Joj:yf ldnfOg]5 .
-5_ ljlgdo x'g ;Sg] u/fpgsf] nflu ul/g] Aoj:yf ;DaGwL ljj/0f M lwtf]kq lgisf;g tyf afF8kmfF6 lgb]{lzsf, @)&$ tyf k|rlnt lwtf]kq
afF8kmfF6 ;DaGwL Aoj:yf cg';f/ ;j{;fwf/0fx?df lgisf;g u/L af+F8kmfF+6 u/] kZrft g]kfn :6s PS;r]Gh lnld6]8df ;"rLs/0f tyf
l;l8P;;L P08 lSnol/Ë ln=df btf{ u/L Ps};fy vl/b laqmLsf] Aoj:yf ldnfOg] 5 .
-h_ lgisf;g ul/g] ;fwf/0f z]o/ ælwtf]kq lgisf;g tyf aFf8kmFf6 lgb]{lzsf, @)&$Æ df ePsf] Joj:yf cg';f/ ;fwf/0f z]o/sf] afF8kmfF6 u/L
;"lrs/0f eP kZrft ælwtf]kq s]lGb|o lgIf]k ;]jf lgodfjnL, @)^&Æ sf] lgod @$ sf] pklgod & adf]lhd ;DalGwt z]o/wgLsf] lxtu|fxL
vftfdf cef}lts ?kdf z]o/ hDdf ul/g]5 .

u=!)=r= k|Tofe"lt ;DaGwL ljj/0f M

-s_ lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd M o; ljj/0fkq dfkm{t lgisfzg ug{
nfluPsf] #^%%,($) lsQf lwtf]kq dWo] tfTsflng k|fjwfg d'tfljs ;j{;fwf/0fnfO{ lgisfzg ug]{ lwtf]kqsf] !)) k|ltztn] x'g cfpg]
#^,%%,($) lsQf ;fwf/0f z]o/sf] nflu tk;Ln adf]lhdsf k|Tofe"ltstf{x?af6 k|Tofe"lt ;]jf k|bfg ug{ d~h'/ u/]sf] 5 .
l;=g+= k|Tofe"ltstf{x?sf] gfd k|Tofe"lt u/]sf] z]o/ ;+Vof k|Tofe"t /sd -g]=?=_
!= PgPdla Soflk6n lnld6]8 !@,%%,($)=)) !@,%%,($,)))=))
@= ;g/fOh Soflk6n lnld6]8 !@,)),)))=)) !@,)),)),)))=))
#= lxdfnog Soflk6n lnld6]8 ^,)),)))=)) ^,)),)),)))=))
$= s'df/L Soflk6n lnld6]8 ^,)),)))=)) ^,)),)),)))=))
hDdf #^,%%,($)=)) #^,%%,($,)))=))

-v_ lwtf]kq k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d'Vo d'Vo aF"bfx? M

!= lgisf;g sDkgLn] !=!@%% -Ps bzdnj Ps b'O kfFr k|ltzt_ sf b/n] k|Tofe"ltstf{x?nfO{ tyf )=!@% % -z'Go bzdnj
Ps b'O kfFr k|ltzt_ k|Tofe"lt Joj:yfkgstf{nfO{ k|Tofe"lt sldzg k|bfg ug]{5 .
@= ;j{;fwf/0faf6 dfly -s_ df pNn]lvt lgisf;g sDkgLsf] vl/b k|Tofe"lt ul/Psf z]o/x? cf+lzs jf k"0f{ ?kdf v/Lb gePsf]
cj:yfdf v/Lb k|Tofe"ltstf{x? dfly pNn]lvt cg'kftdf ul/Psf] k|Tofe"lt k|ltj4tf adf]lhd z]o/ v/Lb ug{ d~h'/ ub{5g\ .
#= ;j{;fwf/0fåf/f dfly pNn]lvt z]o/ k"0f{ jf clws v/Lb ul/Psf] eGg] lgisfzg tyf ljqmL k|aGwsaf6 ;fj{hlgs ;"rgf
hf/L u/L ;f] lgisflzt ;Dk"0f{ z]o/sf] afF8kmfF6 ePkl5 v/Lb k|Tofe"ltstf{x?sf] k|Tofe"lt ;DjGwL bfloTj :jtM ;dfKt x'g]5
jf ePsf] dflgg]5 .
$= ;Demf}tfkqsf] a'Fbf g+= ! df k|Tofe"ltstf{x?af6 v/Lbsf nflu saf]n ul/Psf] z]o/ lsQfsf] xb;Dd dfq v/Lb
k|Tofe"ltstf{x?sf] bfloTj ;Lldt /xg]5 . of] ;Demf}tfkq ;fd"lxs ?kdf ul/Psf] ePtf klg JolQmut ?kdf
k|Tofe"ltstf{x?af6 cfkm'n] v/Lb k|Tofe't ug{ saf]n u/]sf] z]o/sf] nflu ul/Psf] x'gfn] s'g} k|Tofe'ltstf{ cfˆgf] bfloTj
jxg ug{ c;dy{ ePdf lghsf] bfloTj cGo k|Tofe"ltstf{x?df x:tfGt/0f x'g]5}g cyjf cGo k|Tofe"ltstf{x?af6 ;f] bfloTj
jxg ug'{kg]{ 5}g .
%= o; ;Demf}tfsf] a'Fbf -s_ adf]lhd v/Lb k|Tofe"ltstf{n] z]o/ v/Lb ug{ cfjZos ePdf v/Lb k|Tofe"ltstf{sf] clwsf/
lgisfzg sDkgLsf] ;fwf/0f z]o/wgL ;/x x'g]5 .
^= lgisfzg sDkgLn] lgisfzg ug{ nfluPsf] z]o/sf] lgisfzg tyf ljqmL v'Nnf x'g' cufj} s'g} k|sf/sf] lgisfzgnfO{ k|efljt
x'g] k|s[ltsf] 36gf 36]df h:t}M s'g} sfg'gL sf/jfxL k/]df, ;~rfnsx? jf %% eGbf a9L z]o/ wf/0f ug]{ ;+:yfksx? shf{
;"rgf s]Gb|sf] sfnf] ;"lrdf k/]df jf Force Majeure h:t} e'sDk, af9L, klx/f] / cGo k|fs[lts ljklQ, aGb x8\tfn h:tf
sf/0fn] 7'nf] gf]S;fgL Joxf]g'{kg]{ ePdf jf bfloTj >[hgf ePdf ;f] s'/fsf] hfgsf/L ;fj{hlgs ?kdf cfpg' cufj} lnlvt
?kdf k|Tofe"ltstf{x?nfO{ hfgsf/L u/fpg' kg]{5 . To;af6 cfpg ;Sg] hf]lvdsf] k"gd"{NofÍg u/] kZrft dfq o;
;Demf}tfkqsf] kfngf ug{ u/fpg lgisfzg sDkgL d~h'/ ub{5 .
&= of] ;Demf}tfsf] sfof{Gjog tyf JofVof d'n'sL b]jfgL -;lxtf_ P]g, @)&$ adf]lhd x'g]5 .

u=!)=5= cfj]bg lb+bf Wofg lbg' kg]{ s'/fx? M

-s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{
k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL ljj/0f Mo; ljj/0fkq cg';f/ lgisf;g ul/Psf z]o/sf] afF8kmfF6df k/]sf z]o/wgLx?sf]
clwsf/ tyf k|ltaGwfTds Joj:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf
lwtf]kqsf] vf/]hL cflb ;DaGwL Joj:yf k|rlnt sfg'g cg';f/ x'g]5 .
-v_ sDkgLsf] k|aGwkq, lgodfjnL tyf ljj/0fkq k|fKt ug{ jf x]g{ ;Sg] 7fpF M
sfof{no ;doleq lgDglnlvt :yfgx? tyf tf]lsPsf] :yfgx?af6 sDkgLsf] k|aGwkq, lgodfjnL / ljj/0fkq lg/LIf0f ug{ ;lsg]5 .
!= o; sDkgLsf] /lhi68{ sfof{no jfUdtL c~rn, sf7df08f}+ lhNnf, j8f g+= !@, 6]s," sf7df08f} .
@= z]o/ lgisf;g tyf laqmL k|aGws Unf]an cfO{PdO{ SofkL6n ln=, j8f g+= !, nId0f afa' ejg, gS;fn, sf7df08f}+ .
#= o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ dWo] ;j{;fwf/0fsf nflu b/vf:t lbFbf b/vf:tjfnfn] sDtLdf !)-bz_ lsQf
;fwf/0f z]o/sf] nflu b/vf:t lbg' kg]{5 . olb s'g} b/vf:tjfnfn] !) lsQf eGbf a9L z]o/sf] nflu b/vf:t lbg rfx]df !)
c+ssf] u'0ffÍdf clwstd !)),))) -Ps nfv dfq_ lsQf ;fwf/0f z]o/ vl/b ug{sf nflu b/vf:t lbg' kg]{5 .
$= o; ljj/0fkq dfkm{t :yflgo afl;Gbfx?sf nflu lgisf;g ul/g] z]o/ dWo] ^)% cyf{t\ !),(^,&*@ lsQf z]o/ cfof]hgf
k|efljt If]qsf afl;Gbfx? / afsL+ $)% cyf{t &,#!,!** lsQf z]o/ cfof]hgfsf] k|zf/0f nfOgfn] k|efljt If]qsf

26
 afl;Gbfx?sf nflu 5'§ofOPsf] / z]o/ vl/b ug{ slDtdf !) lsQf / a9Ldf !)),))) lsQf;Dd lgisf;gstf{ sDkgLsf]
;~rfns ;ldltsf] ldlt @)&&.!!.!( df a;]sf] a}7ssf] lg0f{o_ sf] nflu b/vf:t lbg ;lsg] 5 .
%= cfof]hgf k|efljt l;Gw'kfNrf]s lhNnfsf :yfgLo afl;Gbfsf] nflu 5'§ofOPsf] s"n hf/L kF"hLsf] !)% n] x'g cfpg] !*,@&,(&)
lsQf dfly l;=g+= $ df pNn]lvt If]qsf afl;Gbfx?sf] ;d"xx? aLr lgisf;g ubf{ s'g} Ps ;d"xnfO{ 5'§ofOPsf] z]o/ ;Dk"0f{ ljqmL
geO{ csf]{ ;d"xdf dfueGbf a9L z]o/sf nflu b/vf:t k|fKt x'g cfPdf pQm ;d"xx? aLr ;dfof]hgf u/L z]o/ afF8kmfF6 ul/g] 5 .

-u_ cfj]bg lb+bf kfngf ug'{kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf] klxrfgsf] nflu gful/stf÷
hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug'{kg]{ jf lwtf]kq bnfn Joj;foLn] lbPsf] u|fxssf] kl/ro gDa/ / ;DalGwt
Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf dfkm{t sf/f]af/ ul/g'kg]{ h:tf kIfx? M
l;Gw'kfNrf]s lhNnfsf] cfof]hgf k|efljt :yfgLo afl;Gbfx?n] o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ lgDg adf]lhd
k|s[of k'/f ePsf] cj:yfdf z]o/ vl/b ug{ cfj]bg lbg ;Sg]5g\ .
!= cfj]bsn] b/vf:t kmf/ddf tf]lsP adf]lhd ;Dk"0f{ ljj/0f e/L clgjfo{ ?kn] xfn;fn} lvr]sf] kmf]6f] ;lxt cfkm}n] b:tvt u/L
cfof]hgf k|efljt If]q tyf cfof]hgf k|efljt If]q afx]ssf :yflgo afl;Gbfx? k|dfl0ft ug]{ :yflgo lgsfoaf6 hf/L sfuhft ;lxt
b/vf:t kmf/d a'emfpg' kg]{5 .
@= !^ aif{ pd]/ k'u]sf] xsdf cfj]bsn] cfkm\gf] gful/stf k|df0fkqsf] k|ltlnkL :jo+n] k|dfl0ft u/L clgjfo{ ?kdf b/vf:t kmf/d
a'emfpFbf k]z ug'{kg]{5 .
#= !^ aif{eGbf sd pd]/sf nflu cfdf÷afa'n] ;+/Ifs eO{ cfj]bg lbg' k/]df g]kfn ;/sf/sf] kl~hsflwsf/Lsf] sfof{noaf6 k|fKt
gfafnssf] hGdbtf{ k|df0f–kqsf] k|ltlnkL ;+/Ifsåf/f clgjfo{ ?kdf k|dfl0ft u/L cfj]bg;fy k]z ug'{kg]{5 . ;fy} b/vf:t kmf/ddf
;+/Ifssf] gful/stf k|df0fkqsf] k|ltlnkL ;d]t ;+/Ifs :jo+n] k|dfl0ft u/L ;+nUg ug'{ kg]{5 .
$= ljjfx e} cfPsf dlxnfsf xsdf ljjfx btf{ k|df0fkqsf] k|ltlnkL ;d]t ;+nUg u/]sf] x'g' kg]{5 .
%= a;fO{+ ;/fO{ ul/ cfPsf] xsdf cfx\jfgkq k|sflzt x'g'eGbf cufj} a;fO{ ;/fO{ u/L cfPsf] k|df0fkqsf] k|ltlnkL ;d]t ;+nUg u/]sf]]
x'g'kg]{5 .
^= !^ aif{ pd]/ k'uL gful/stf lnPsf] t/ ljjfx u/L l;Gw'kfNrf]s lhNnf 5f]8L cGo lhNnf uPsf dlxnf Pj+ lhNnf 5f]l8 a;fO{ ;/fO{
u/L uPsf JolQm / kl/jf/x?df pNn]lvt ;'/lIft z]o/ lng] clwsf/ /xg] 5}g .
&= cfdf afa' afx]s cGo JolQm ;+/Ifs e} gfjfns jf ljlIfKt JolQmsf] gfddf b/vf:t lb+bf sfg"g adf]lhd ;+/IfsTjsf] k|df0f k]z
ug{'kg]{5 .
*= lwtf]kq vl/b ug{sf nfuL b/vf:t lbg rfxg]n] tf]lsPsf] ;+sng s]Gb|df z]o/ vl/bsf] nfuL b/vf:t a'emfpg' kg]{5 .
(= cfj]bg kmf/d a'emfpFbf b/vf:t kmf/ddf Go"gtd ?kdf v'Ng'kg]{ egL tf]lsPsf ljj/0fx? ;j} :ki6 ?kdf e/]sf] b/vf:t kmf/d
a'emfpg' kg]{5 .
!)= Ps JolQmn] cfkm'n] lng rfx]sf] ;Dk"0f{ z]o/sf] nflu Psj6f dfq cfj]bg u/]sf] x'g' kg]{5 . olb Ps} JolQmn] Ps eGbf a9L cfj]bg
lbPsf] e]l6Pdf lghn] lbPsf] ;a} cfj]bgx?nfO{ /2 ul/g]5 .
!!= pBf]u k|efljt If]qsf afl;Gbfx?af6 cfj]bg dfu ubf{ a;fO{ ;/fO{ jf cGo sf/0fn] a;fO{ ;/]sfx?n] cfj]bg lbg kfpg] 5}gg\ .
!@= ;fwf/0f z]o/ vl/b ug{sf nflu b/vf:t lbg] JolQm :jo+n] b/vf:t kmf/ddf b:tvt u/L tf]lsPsf] ;+sng s]Gb|x?df ;fwf/0f z]o/
vl/bsf nflu b/vf:t a'emfpg' kg]{5 . o;/L b/vf:t kmf/ddf b:tvt gu/]sf] / tf]lsPsf ;+sng s]Gb|x? afx]s cGo :yfgx¿df
b/vf:t kmf/d a'emfPsf] b/vf:t kmf/dnfO{ /2 ul/g]5 .
!#= pBf]u k|efljt If]qsf afl;Gbfx?n] z]o/ vl/b u/]df ;j{;fwf/0fsf nflu ;fj{hlgs lgisfzg ul/g] ;fwf/0f z]o/sf] nflu k'g M
cfj]bg lbg kfpg] 5}gg\ .
!$= ;Dk"0f{ b/vf:tjfnfx? -gfjfnsx? ;d]t_ n] clgjfo{ ?kdf cfkm\gf] vftf /x]sf] a}+s jf ljQLo ;+:yfsf] gfd, 7]ufgf / vftf gDa/
;d]t :ki6 ?kdf b/vf:t kmf/ddf v'nfpg' kg]{5 . b/vf:tjfnfn] b/vf:t kmf/ddf cfkm\gf] vftf gDa/ pNn]v ubf{ Clearing
House sf] ;b:o ePsf] a}+s jf ljQLo ;+:yfdf ePsf] vftf gDa/ pNn]v ug'{ kg]{5 .
!%= ?=%),)))÷–eGbf a9L nufgL ug]{ b/vf:tjfnfn] b/vf:t lb+bf clgjfo{ ?kdf PsfpG6k]oL r]s dfkm{t /sd hDdf ug'{ kg]{5 .
!^= ?=% nfv;Dd /sd a/fa/sf] cfj]bg ug]{ b/vf:tjfnfn] :j]lR5s ?kdf / ?=% nfv eGbf a9L /sd a/fa/sf] cfj]bg ug]{
b/vf:tjfnfn] clgjfo{ ?kdf Kofg (PAN No.) gDa/ b/vf:t kmf/ddf v'nfpg' kg]{5 .
!&= b/vf:tjfnfn] Psf3/ kl/jf/ afx]s Ps eGbf a9L b/vf:t kmf/d ;dfj]z u/L cfj]bg lbPsf] cj:yfdf k|To]s b/vf:tjfnfn] cfkm\g}
vftfsf] Psfp06 k]oL r]s a'emfpg'kg]{5 .
!*= lxtu|fxL vftf vf]nL ;s]sf] cfj]bssf] xsdf lxtu|fxL vftf g+= pNn]v ug'{kg]{5 .
!(= ;fy} g]kfn lwtf]kq af]8{af6 ldlt @)&%÷!)÷)& sf] lgb]{zg adf]lhd cfof]hgf k|efljt If]qsf :yflgojf;Lx?n] P]lR5s ?kdf
cf:jf k|0ffnL dfkm{t cfj]bg lbg ;Sg] 5 .
;j{;fwf/0fdf lgisfzg ul/g] ;fwf/0f z]o/ lgDg adf]lhd k|s[of k'/f ePsf] cj:yfdf z]o/ vl/b ug{ cfj]bg lbg ;Sg]5g\ .
!= o; ljj/0fkqaf6 lgisfzg x'g] lwtf]kq vl/bsf nflu b/vf:t lbg rfxg]n] g]kfn lwtf]kq af]8{af6 cg'dlt lnO{ lwtf]kqsf]
;fj{hlgs lgisfzgsf] s]lGb|s[t ljB'lto ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf, @)&$ adf]lhd ;fj{hlgs lgisfzg k|0ffnL dfkm{t
cfj]bg ;+sng ug{ cfj4 ASBA ;]jfdf ;xefuL a+}s tyf ljQLo ;+:yf tyf ltgsf zfvf sfof{nox?af6 cfj]bg lbg ;Sg]5g\ .
@= cf:jf (ASBA) ;]jfdf ;xefuL a}s tyf ljQLo ;+:yfn] ASBA cGt{ut lng] cfj]bgsf] 9fFrf lwtf]kqsf] ;fj{hlgs lgisfzgsf]
s]lb|s[t ljB'tLo ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf, @)&$ sf] cg';'rL % adf]lhd x'g'kg]{5 .
#= ;j{;fwf/0fsf] xsdf l;l8P; P08 lSnol/Ë lnld6]8af6 pknAw u/fOPsf] æd]/f] z]o/Æ ;km\6jo/af6 klg cfj]bsn] cfj]bg ug{
;Sg]5g\ . t/ pBf]u k|efljt If]qsf :yfgLo afl;Gbfx?sf] xsdf pQm ;]jf nfu" x'g] 5}g .
$= l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/fddf pNn]v ePsf] lxtu|fxL vftf g+= / cfj]bssf] gfd l;l8P;;Lsf] clen]vdf
km/s k/]sf] kfO{Pdf ;f] kmf/fdnfO{ z]o/ afF8kmfF6df ;dfj]z gul/g] x'+bf cfj]bg kmf/fddf e/]sf] lxtu|fxL vftf g+= cfj]bs :jo+n]
Plsg ug'{kg]{5 .
%= lwtf]kq vl/bsf nflu b/vf:t lb+bfsf] cj:yfdf jf b/vf:t lbO{;s]kl5 vl/b ug{ rfx]sf] lwtf]kq afktsf] /sd e'QmfgL gx'+b}
k|rlnt sfg'g adf]lhd clwsf/ k|fKt clwsf/L jf lgsfoaf6 nufgLstf{sf] vftf /f]Ssf /fVg] cfb]z k|fKt ePdf lgisfzg tyf laqmL
k|aGwsn] To:tf] b/vf:t kmf/fdnfO{ /2 ul/g] x'+bf ;f] s'/fsf] hfgsf/L cfj]bs :jo+n] hfgsf/Ldf lng' kg]{5 .

27
 ^= lwtf]kq afF8kmfF6 ug'{ k"j{ clVtof/ k|fKt lgsfoaf6 s'g} nufgLstf{sf] vftf /f]Ssf /fVg cfb]z jf lgb]{zg k|fKt ePdf ;DalGwt a}+s
jf ljQLo ;+:yfn] To:tf] cfb]z jf lgb]{zg cg';f/ ;DalGwt nufgLstf{sf] vftf /f]Ssf u/L To;sf] hfgsf/L t'?Gt lgisfzg tyf
laqmL k|aGwsnfO{ lbg' kg]{5 .
&= z]o/sf] afF8kmfF6 u/L ;"rLs/0f eP kZrft afF8kmfF6df k/]sf cfj]bsx?nfO{ afF8kmfF6df k/]sf z]o/ lghx?sf] lxtu|fxL vftfdf hDdf
ug]{ Aoj:yf ul/g] ePsf]n] ;Dk"0f{ cfj]bsx?n] clgjfo{ ?kdf cfkm\gf] lxtu|fxL vftf g+= cfj]bg kmf/fddf pNn]v ug'{ kg]{5.
u=!!= ;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0f M
lgisf;gstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ aif{sf] cjlwdf s'g} k|sf/sf] a:t'ut sf/f]jf/ ePsf] jf s'g} sf/f]jf/ ug{ k|:tfj
ul/Psf] eP sf/f]jf/df ;+nUg AolQmx?sf] gfd, ltgLx?sf] ;+ul7t ;+:yf ;Fusf] ;DaGw, sf/f]af/sf] k|s[lt / /sd M

-s_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfnssf] ?kdf /x]sf] AolQm M sf/f]af/ gePsf] .
-v_ cfwf/e"t z]o/wgL M sf/f]af/ gePsf] .
-u_ v08 -s_ / -v_ df pNn]lvt s'g} AolQmsf] Psf3/ kl/jf/sf] ;b:o M sf/f]af/ gePsf] .
-3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;~rfns jf cfwf/e"t z]o/wgLn] #) k|ltzt jf ;f] eGbf a9L dtflwsf/ x'g] u/L z]o/ :jfldTj
u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M ;f] gePsf] .
-ª_ ;+ul7t ;+:yf jf To;sf] ;xfos sDkgLn] xfnsf] ;~rfns jf lghsf] Psf3/sf] kl/jf/sf] ;b:osf nflu s'g} sf/f]jf/ jf ;Demf}tf u/]sf]
5 eg] ;f] jf ljj/0fkq k|sfzg ug'{ eGbf # aif{ cufl8sf] cjlwdf ;+:yfsf] ;~rfns jf ;~rfnssf] Psf3/ kl/jf/sf] ;b:osf nflu
s'g} sf/f]jf/ jf ;Demf}tf u/]sf] eP ;f] s'/f M s'g} sf/f]jf/ jf ;Demf}tf u/]sf] 5}g .
-r_ s'g} ;~rfns jf ;~rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP pQm C0f ;DaGwL lj:t[t ljj/0f h:t}
C0f afkt lnPsf] /sd, C0fsf] Aofhb/, C0f lnPsf] ldlt, C0f e'QmfgL cjlw cflb s'/f ljj/0fkqdf v'nfpg' kg]{ M C0f sf/f]af/ u/]sf]
5}g .
u=!@= ljb]zL nufgL / Aoa:yfkg ;DaGwL ljj/0f M
ljb]zL nufgL / Aoa:yfkgdf ;+ul7t ;+:yf ;+rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf] d'Vo tyf tflTjs a'Fbfx? M sDkgLdf
ljb]zL nufgL / ljb]zL Aoa:yfkgdf g/x]sf] .

u=!#= ;"rLs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisf;g ug]{ ePdf b]xfosf] ljj/0f pNn]v ug'{ kg]{ M
-s_ ;+ul7t ;+:yfsf] ljut # cfly{s aif{sf] k|To]s q}dfl;s cjlwsf] pRrtd, Go"gtd, clGtd ahf/ d"Nosf ;fy} sf/f]jf/ ePsf] z]o/ ;+VofM
lgisf;gstf{ sDkgL ;"rLs[t ;+ul7t ;+:yf gePsf] .
-v_ af]8{df ljj/0fkq btf{sf] nflu k|:t't ug'{ eGbf ^ dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go"g / clGtd d"Nosf ;fy} k|To]s
dlxgfdf sf/f]jf/ ePsf] s'n lbg / s'n sf/f]af/ ePsf] lwtf]kqsf] ;+Vof M lgisf;gstf{ sDkgL ;"lrs[t ;+ul7t ;+:yf gePsf] .

u=!$= kl5Nnf] ;fj{hlgs lgisf;gsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f M

;+ul7t ;+:yfn] o; eGbf cuf8L lwtf]kq lgisfzg ubf{ tof/ u/]sf] ljj/0fkq jf cGo ljj/0fx?df pNn]vLt ul/Psf nIo tyf sfo{qmdx?
tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf sfo{qmdsf ;fy} ljj/0fkq jf cGo ljj/0fx?df k|If]lkt v'b d'gfkmf
eGbf aL; k|ltzt jf ;f] eGbf a9Ln] Go"g x'g uPsf] eP o;/L km/s kgf{sf] sf/0f M ;f] gePsf] .

u=!%= k/fdz{bftf÷ laz]if1 ;DaGwL ljj/0f M

-s_ n]vfkl/Ifs, k|d'v a}+s, lgisf;g sfo{;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1 cflbsf] gfd tyf 7]ufgfM
c_ o; sDkgLsf] cf= j= @)&&.&* sf] ljQLo ljj/0fnfO{ lh= kf}8\ofn P08 P;f]l;P6\;, rf6{8 Psfp06]06\;, sf7df08f}+sf rf6{8
Psfp06]06, >L 3gZofd kf}8]nHo"n] k|dfl0ft ug'{ePsf] 5 .
cf_ sDkgLsf] cf= j= @)&^÷&& sf] cfDbfgL vr{ lx;fa tyf jf;nftsf] n]vfk/LIf0f cO=lk= d}gfln P08 P;f]l;P6\;, rf6{8
Psfp06]06\;, sf7df08f}+sf rf6{8 Psfp06]06, >L O{Zj/ k|;fb d}gfnLHo"n] ug'{ePsf] 5 .
O_ o; lgisf;gsf] nflu k|d'v a}+ssf] Aoa:yf ul/Psf] 5}g .
O{_ o; lgisf;gsf] nflu b]xfosf a}+sx?nfO{ lgisf;g a}+s (Banker to the Issue) sf] ?kdf lgo'Qm ul/Psf] 5 .
l;=
g+= lgisf;g a}+ssf] gfd, 7]ufgf vftfsf] gfd vftf gDa/
!= >L Unf]an cfOPdO a}+s lnld6]8, sf7df08f}+ . GICL-BTI Balephi Hydropower IPO 0101010007837
@= >L s'df/L a}+s lnld6]8, b/jf/dfu{, sf7df08f}+ . GICL-BTI Balephi Hydropower IPO 0010017146000035
#= >L g]kfn qm]l86 P08 sd;{ a}+s ln=, l8NnLahf/, sf7df08f}+ GICL-BTI Balephi Hydropower IPO 1450000065101
$= >L nIdL a}+s lnld6]8, xfQL;f/, sf7df08f}+ . GICL-BTI Balephi Hydropower IPO 00511158186
;fy} cfjZostf cg';f/ lgisf;g aGb x'g' cufj} jf]8{nfO{ hfgsf/L lbO{ cGo afl0fHo a}+sx?nfO{ ;d]t o; lwtf]kq lgisf;gsf] nflu
lgisf;g a}+ssf] ?kdf lgo'Qm ug{ ;lsg]5 .
p_ o; ljj/0fkqdf pNn]lvt ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? xfnsf] hnljB't ahf/sf] l:ylt, lgisf;gstf{ sDkgLsf]
xfnsf] bIftf / lgisf;gstf{ sDkgLn] k|fKt u/]sf] xfn;Ddsf] sfo{ k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL k|dfl0ft ug]{
rf6{8{ Psfp06]06 ;+:yf >L Pg= P;= P P08 P;f]l;P6\; rf6{8{ PsfpG6]06\; sf] tkm{af6 kf6{g/ rf6{8{ Psfp06]06 >L cfef; uf}tdHo"n]
k|dfl0ft ug'{ ePsf] 5 .
-v_ dfly v08 -s_ df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d'Vo d'Vo a'Fbf tyf zt{x? M
-!_ ;+sng s]Gb|x?sf] lgwf{/0f ug]{ .
-@_ a}+s/ 6' lb O:o'sf] lgwf{/0f ug]{ .
-#_ cfjZostf cg';f/ ;"rgf k|sfzgdf ;xof]u ug]{ .
-$_ cfjZostf cg';f/ a}+s tyf ;+sng s]Gb|x?df kqfrf/ ug]{ .

28
 -%_ z]o/ lgisf;gsf qmddf ;+sng s]Gb|x?df kmd{ k7fpg], b}lgs ;+sngsf] ljj/0f lng], k7fpg] tyf ;+sng tYof+s g]kfn
lwtf]kq jf]8{df hfgsf/L u/fpg] .
-^_ lgisf;gsf] qmddf k|fKt /sd a}+s/ 6' lb O:o'df /fVg, lemSg ;xof]u ug]{ / k|fKt /sdsf] lx;fa ldnfg ug]{ .
-&_ z]o/ lgisf;g kZrft CASBA k|0ffnL cGtu{t hDdf ePsf] b/vf:t kmf/d tyf ;+sng s]Gb|x?jf6 kmd{x? ;+sng ug]{,
k|f];]l;Ë ug]{, afF8kmfF6 df]8]n agfpg ;3fpg] ;fy} afF8kmfF6df ;xof]u ug]{ .
-*_ afF8kmfF6 kZrft ;DalGwt AolQmx?sf] Demat vftfdf cef}lts z]o/ hDdf u/L z]o/ ;"rLs/0f tyf l;l8P; P08 lSnol/Ë
lnld6]8df btf{sf nflu sDkgLnfO{ cfjZos ;xof]u ug]{ .
-(_ z]o/ lgisf;gsf qmddf cfOkg]{ cGo ;Dk"0f{ sfo{x? ug{ u/fpg]df ;xof]u ug]{ .

u=!^= cfof]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisf;g afx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g, tT;DaGwL ljj/0f M
of] kl/of]hgf lgdf{0f ug{sf nflu ;+:yfks z]o/wgLx?sf] :jMnufgL / Unf]an cfOPdO{ a}+s ln= sf] cu'jfOdf tkl;ndf pNn]lvt a}+sx? ;+nUg ePsf]]
;xljQLos/0f ;Demf}tf adf]lhdsf] C0f k|fKt u/L cfof]hgfsf sfdx? ;~rfng e}/x]sf] 5 .
:jLs[t shf{ /sd :jLs[t shf{ /sd :jLs[t shf{ /sd k|of]u ePsf] shf{
a}+s tyf ljQLo -;xljlQos/0f -k"/s -;x k"/s hDdf :jLs[t shf{ /sd -df3 !$ k|of]u x'g afFsL lkmtf{
;+:yfsf] gfd ;Demf}tf cg';f/_ ;xljlQos/0f ;xljlQos/0f /sd @)&*_ shf{ /sd
;Demf}tf cg';f/_ ;Demf}tf cg';f/_
Unf]an cfOPdO{ 2,334,959,543.84 133,040,456.16 5}g .
1,850,000,000.00 418,000,000.00 2,468,000,000.00
a}+s ln= 200,000,000.00
Pe/]i6 a}+s ln= 950,000,000.00 215,000,000.00 - 1,165,000,000.00 1,082,443,328.66 82,556,671.34 5}g .
;flgdf a}+s ln= - 1,108,550,089.0 168,449,910.92 5}g .
950,000,000.00 327,000,000.00 1,277,000,000.00
8
/fli6«o jfl0fHo a}+s - 489,162,652.84 10,837,347.16 5}g .
500,000,000.00 - 500,000,000.00
lnld6]8
hDdf 4,250,000,000.00 960,000,000.00 200,000,000.00 5,410,000,000.00 5,015,115,614.42 394,884,385.58

Gff]6M Dffly pNn]lvt l:js[t shf{ l;df afx]s yk ? #^,)),)),)))÷– Bridge Gap Loan against IPO / ? !^,)),)),)))÷– Bridge Gap Loan against
Transmission Line Sharing :jLs[t shf{ pkof]u ul//x]sf] .

Dffly pNn]lvt l:js[t shf{ l;dfleq /xg] u/L Unf]an cfOPdO{ a}+s ln= af6 la|h Uofk C0f ?=@$!,$@%,)^@=*%÷–-Bridge Gap Loan against IPO
afx]s_ / ;flgdf a}+s ln= af6 ?= ($,&!^,#&&=#*÷– u/L hDdf ?= ##^,!$!,$$)=@#÷– la|h Uofk C0f pkof]u ul//x]sf] .
Dffly pNn]lvt l:js[t shf{ l;df afx]s Cost Overrun Financing sf] nfuL u/L Pe/]i6 a}+s ln= af6 la|h Uofk C0f ?=!%,)),)),)))÷– la|h Uofk C0f
pkof]u ul//x]sf] .

a}+s shf{ e'QmfgL ljj/0fM shf{ e"QmfgL cjwL M ;xljlQos/0f ;Demf}tf cg';f/sf] shf{sf] e'QmgL cjlw !@ jif{, / k"/s ;xljlQos/0f ;Demf}tf cg';f/sf]n
shfsf] e'QmfgL !% jif{ /x]sf], e'QmfgLsf] tl/sf M q}dfl;s, Aofhb/ M xfn jflif{s jflif{s *=*$ k|ltzt /x]sf] .

u=!&= d'2f tyf ljjfb ;DaGwL ljj/0f M

-s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;+rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf ljjfb eP ;f] ;DaGwL ljj/0f tyf pk/f]Qm
d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf Aoj:yfkgsf] wf/0ff M gePsf] .
-v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;~rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL ljj/0f M gePsf] .
-u_ ljut kfFr jif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;~rfns sfnf] ;"rLdf k/]sf] jf s'g} g}lts jf cfly{s sf/0faf6 s'g} lgodg lgsfo jf
cbfntn] ;hfo u/fPsf] eP, To:tf] ;+:yfks÷;~rfnssf] gfd / ;hfo ug]{ lgodg lgsfo jf cbfntsf] gfd pNn]v ug'{kg]{ M gePsf] .
-3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf], lwtf]kqjfnfx?sf] s'g} /sd e'QmfgL
gul/Psf] eP tT;DaGwL ljj/0fx? M;f] gePsf] .

u=!*= u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M

lgisflzt lwtf]kq ;DalGw nufgLstf{x?sf] u'gf;f] tyf ;'emfj ;'Gg tyf ;f] sf] ;dfwfgsf nflu lgisf;g sDkgL tyf lwtf]kq lgisf;g
tyf laqmL k|aGwssf] sfof{nodf Ps ljz]if sIfsf] Aoj:yf ul/Psf] 5 . nufgLstf{x?n] b]xfosf] dfWod dfkm{t cfˆgf] u'gf;f] tyf ;'emfjx?
k|]lift ug{ ;Sg]5g\ .
!= lgisf;gstf{ sDkgLsf] tkm{af6 >L cl:dtf clwsf/L – kmf]g g+= )! %()%))# , tyf Od]nM info.balephi@gmail.com
@= lgisf;g tyf ljqmL k|jGwssf] tkm{af6 >L glngf >]i7 – kmf]g g+= $%$%^$( tyf Od]nM info@gicl.com.np

u=!(= gub glnO{ s;}nfO{ lwtf]kq lgisf;g ul/Psf] 5 eg] To:tf] AolQm jf ;d"xsf] gfd, v/Lb ul/Psf] ;DklQ jf ;]jf ;DaGwL ljj/0f, lgisf;g
ul/Psf] lwtf]kqsf] ;+Vof / b/ ;DaGwL ljj/0f M ;f] gePsf] .

u=@)= C0fkq lgisf;g ;DaGwL ljj/0f M xfn;Dd sDkgLn] C0fkq hf/L u/]sf] 5}g .

u=@!= cu|flwsf/ z]o/ lgisf;g ;DaGwL ljj/0f M ;f] gePsf] .

u=@@= cGo ;fdfGo hfgsf/L M

-s_ ljz]if1sf] s'g} /fo ePdf, ;f] sf] ljj/0f M

29
 o; ljj/0fkqdf pNn]lvt ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? sDkgLsf] cf= j= @)&&÷)&* ;Ddsf] n]vfkl/If0f e};s]sf
ljlQo ljj/0fx?, g]kfn ljB't k|flws/0f ;Fu ePsf] ljB't v/Lb – laqmL ;Demf}tf, cfof]hgfsf] ;dflKtsf] cjlw tyf To; cj:yf;Ddsf]
nfutsf] cg'dfg, cfof]hgfsf] nflu C0f lng] ;DaGwdf Unf]an cfOPdO a}+s ln= sf] cu'jfOdf Pe/]i6 a}+s ln=, ;flgdf a}+s ln= / /fli6«o
afl0fHo a}+s ln= -;fljs PgcfOl8;L 8]enkd]06 a}+s ln=_ ;u+ ePsf] ;xljlQos/0f ;Demf}tf / k"/s ;xljlQos/0f ;Demf}tf xfnsf] ljb]zL
d'b«f ljlgdo b/ / ;f] sf] k|If]k0f Pj+ /fHosf] cg'dflgt ljlQo tyf df}lb«s l:ylt ;fy} lgisfzg sDkgLsf] xfnsf] bIftf / lgisfzg
sDkgLn] k|fKt u/]sf] xfn;Ddsf] sfo{k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL >L Pg= P;= P P08 Pzf]l;o6\;, rf6{8{
PsfpG6]06\;, sf7\df08f}sf kf6{g/, rf6{8 PsfpG6]G6 >L cfef; uf}tdn] k|dfl0ft ug'{ ePsf] 5 .

-v_ ut tLg cfly{s jif{ leqdf s'g} ;~rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0f M ;f] gePsf]
n]vfk/LIfsdf ePsf] kl/jt{g M nuftf/ # jif{eGbf a9L Ps} JolQmn] n]vfkl/If0f ug{ gkfpg] lgodfg';f/ n]vfk/LIfsdf kl/jt{g x'g] u/]sf] .
o; sDkgLsf xfn;Ddsf n]vf kl/Ifsx?sf] ljj/0f b]xfo adf]lhd /x]sf] 5 .
qm=
n]vfk/LIfssf] gfd, 7]ufgf n]vfk/LIf0f u/]sf] cf=a=
;+=
lh= kf}8\ofn P08 P;f]l;P6\;, rf6{8 Psfp06]06\;, sf7df08f}+sf rf6{8 Psfp06]06,
!= cf=a=@)&&.)&*
>L 3gZofd kf}8]n
cO=lk= d}gfln P08 P;f]l;P6\;, rf6{8 Psfp06]06\;, sf7df08f}+sf rf6{8 Psfp06]06,
@= cf=a=@)&^.)&&
>L O{zj/ k|;fb d}gfnL
lh= kf}8\ofn P08 P;f]l;P6\;, rf6{8 Psfp06]06\;, sf7df08f}+sf rf6{8 Psfp06]06,
#= cf=a=@)&%.)&^
>L 3gZofd kf}8]n
lh= kf}8\ofn P08 P;f]l;P6\;, rf6{8 Psfp06]06\;, sf7df08f}+sf rf6{8 Psfp06]06,
$ cf=a=@)&$.)&%
>L 3gZofd kf}8]n
-u_ sDkgL ;lrjsf] gfd, 7]ufgf / of]Uotf M sf7df8f}F lhNnf lgjf;L sfg'g ljifodf :gfts z}lIfs of]Uotf xfl;n u/L s/Lj @ jif{eGbf
al9sf] sfof{g'ej ePsf >L ;fsf/ kf]v/]n o; sDkgLsf] sDkgL ;lrjsf] ?kdf sfo{/t /xg' ePsf] 5 .
-3_ ;fj{hlgs lgisf;g ug{sf nflu ;~rfns ;ldltaf6 ePsf] lg0f{o ;DjGwL ljj/0f M
sDkgLn] cfˆgf] hf/L k'FhL ?=!,*@,&(,&),)))/- -cIf/]kL Ps cj{ aof;L s/f]8 pgf;L nfv ;Q/L xhf/ dfq_ sf] !)% cyf{t
?=!*,@&,(&,))).– /sd a/fa/sf] ?=!)).– c+lst b/sf] !*,@&,(&) lsQf ;j{;fwf/0fsf nflu tyf hf/L k'FhLsf] !)% cyf{t
?=!*,@&,(&))).– /sd a/fa/sf] ?=!)).– c+lst b/sf] !*,@&,(&) lsQf z]o/ :yfgLo afl;Gbfx?sf nflu u/L s"n hDdf #^,%%,($)
lsQf z]o/ lgisf;g ug]{ ;DjGwdf sDkgLsf] ldlt @)&^.)(.=!^ df a;]sf] ;~rfns ;ldltsf] a}7s tyf sDkgLsf] @)&^.)(.@* df a;]sf]
jflif{s ;fwf/0f ;efaf6 ;d]t cg'df]bg eO;s]sf]] 5 .
-ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if s/ ;'ljwf lbOPsf] eP, ;f] ;DaGwL ljj/0f M cfof]hgfsf] cfodf !) jif{ cfos/ 5'6
tyf ;f] kZrft % aif{sf] nflu %) k|ltzt cfos/ 5'6 k|bfg ul/Psf] 5 .
-r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub k|jfx ljj/0f k|fKt ug{ jf x]g{ ;Sg] 7fpF /
;do M
sfof{no ;doleq lgDg lnlvt :yfgx?df sDkgLsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf–gf]S;fg lx;fj tyf gub
k|jfxsf] ljj/0f k|fKt ug{ jf lg/LIf0f ug{ ;lsg]5 .
!= sDkgLsf] /lhi68{ sfof{no, j8f g+= !@ sf7df08f}+ .
@= lwtf]kq lgisf;g tyf laqmL k|aGws >L Unf]an cfOPdO{ SofkL6n lnld6]8, j8f g+= !, nId0f afa' ejg, gS;fn, sf7df08f} .
-5_ af]g; z]o/ ;DaGwL Joj:yf M
xfn;Dd af]g; z]o/ hf/L ul/Psf] 5}g . eljiodf k|rlnt P]g / g]kfn lwtf]kq af]8{sf] k|rlnt af]g; z]o/ lgisf;g ;DaGwL Joj:yf
cg';f/ af]g; z]o/ hf/L ug{ ;Sg]5 .
-h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/f M
sDkgLn] o; ljj/0fkq dfkm{t cfˆgf] hf/L k"FhL ?=!,*@,&(,&),)))/- -cIf/]kL Ps cj{ aof;L s/f]8 pgf;L nfv ;Q/L xhf/ dfq_ dWo]
!)Ü cyf{t ?=!,*@,&(,&)).– -Ps s/f]7 aof;L nfv pgfGgAa] nfv ;ft ;o dfq_ /sd a/fa/sf] ?=!)).– c+lst b/sf !*,@&,(&) -
c7f/ nfv ;QfO; xhf/ gf} ;o ;Q/L dfq_ lsQf ;fwf/0f z]o/ cfof]hgf k|efljt If]q l;Gw'kfNrf]s lhNnfsf :yfgLo afl;GbfnfO{
5'§fPsf]df ;f] dWo] cfof]hgfaf6 k|efljt h'un ufpFkflnsf j8f g+=@, # / $ -;fljsf] u'Da, uf]Nr] / kfªtffª_ df :yfoL a;f]af; ug]{
afl;Gbfx?sf] nflu ^)Ü n] x'g cfpg] !),(^,&*@ lsQf ;fwf/0f z]o/ Pj+ cfof]hgfsf] !#@ s]=le= k|zf/0f nfOgaf6 k|efljt If]qx? qmdzM
h'un ufpFkflnsfsf] j8f g+= % / &, an]kmL ufpFkflnsfsf] j8f g+ !, #, ^ / & / ;'gsf]zL ufpFkflnsfsf] j8f g+= & sf nflu $) k|ltzt
cyf{t &,#!,!** lsQf ;fwf/0f z]o/ lgisf;g ul/Psf] 5 .
hf/L k"+hLsf] !)Ü cyf{t ?=!,*@,&(,&)).– -Ps s/f]7 aof;L nfv pgfGgAa] nfv ;ft ;o dfq_ /sd a/fa/sf] ?=!)).– c+lst b/sf]
!*,@&,(&) -c7f/ nfv ;QfO; xhf/ gf} ;o ;Q/L dfq_ lsQf ;fwf/0f z]o/sf] %Ü cyf{t (!,#(* -PsfGgAa] xhf/ tLg ;o c7fGgAa]_
lsQf ;fwf/0f z]o/ ;fd'lxs nufgL sf]if / $Ü cyf{t &#,!!( -lqxQ/ xhf/ Ps ;o pgfO;_ lsQf ;fwf/0f z]o/ sDkgLsf sd{rf/Lsf
nflu 5'§fOPsf] / afFsL !,^^#,$%# -;f]x| nfv lq;7L xhf/ rf/ ;o lqkGg_ lsQf ;fwf/0f z]o/ ;j{;fwf/0fx?sf] nflu lwtf]kq btf{ tyf
lgisfzg lgodfjnL, @)&# sf] clwgdf /xL lgisfzg ul/Psf] 5 .
-em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cfˆgf] sf/f]af/;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf k"0f{ kfngf u/]sf] ;DaGwdf u/]sf]
pb\3f]if0fM sDkgLn]] sDkgL P]g, @)^# n] u/]sf] Joj:yfx¿ cfkm"n] ug]{ Joj;fo;+u ;DalGwt P]g, lgod tyf lgodg Joj:yf tyf lgodg
lgsfox?n] lbPsf] lgb]{zgx?sf] k"0f{ ?kdf kfngf u/]sf] 5 / ;f]xL lgb]{zgx¿sf] bfo/fleq /xL sfo{ ul//x]sf] / o; ljj/0fkqdf pNn]v
ul/Psf] ljj/0fx¿ ;d]t ;f]xL cg'?k tof/ ul/Psf] xf] eGg] sDkgLsf] pb\3f]if0f /x]sf] 5 .
-`_ lwtf]kq laqmL ljt/0f ;DaGwL Joj:yf M o; ljj/0fkq dfkm{t ;j{;fwf/0fdf lgisflzt ;fwf/0f z]o/sf] cfj]bg kmf/fd g]kfn lwtf]kq
af]8{af6 :jLs[lt k|fKt u/]sf ;Dk"0f{ cf:jf (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx? / ltgsf zfvf sfof{nox?df b/vf:t /sd a'emfpg
;lsg]5 .
-6_ qm]l86 /]l6Ë ;DaGwL Aoa:yf M

30
 o; ljj/0fkq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# -t];|f] ;+zf]wg ;lxt_ df
ePsf] Joj:yf adf]lhd sDkgLsf] O:o'/ /]l6Ë u/fpg' kg]{ ePsf]n] qm]l86 /]l6Ë lgodfjnL, @)^* sf] lgod # adf]lhd g]kfn lwtf]kq
af]8{af6 cg'dlt k|fKt qm]l86 /]l6Ë ;+:yf O{qmf g]kfn ln=, l8NnLahf/, sf7df08f}+af6 O:o'/ /]l6Ë u/fO{ æ[ICRANP-IR] BB”
(pronounced ICRA NP Issuer Rating Double B)Æ k|df0fkq k|fKt u/]sf] 5 . æ[ICRANP-IR] BB” n] sDkgLsf] bfloTj jxg ug]{ Ifdtfdf
cf};t hf]lvd /x]sf] -Moderate risk of default regardibg timely servicing of financial obligations_ eGg] a'lemG5 . O{qmf g]kfn ln= n]
ICRANP-IR AAA b]lv ICRANP-IR D ;Ddsf] /]l6Ë k|bfg ub{5 . h;df /]l6Ë æICRANP-IR AAAÆ n] Highest degree of Safety
Regarding Timely Servicing of Financial Obligation hgfpF5 eg] æICRANP-IR DÆ n] Default or are Expected to be in Default soon eGg]
hgfpF5 .
-7_ ljj/0fkq tof/ ug]{ JolQmsf] gfd, y/, z}lIfs of]Uotf / cg'ejsf] ljj/0f M o; ljj/0fkq tof/ kfg]{ Joj;flos ;+:yfdf lwtf]kq
lgisf;g tyf laqmL k|aGws Unf]an cfOPdO{ SofkL6n lnld6]8, j8f g+= !, nId0f afa' ejg, gS;fn, sf7df08f}+ /x]sf] 5 .
-8_ ;sf/fTds kIfx? M
!_ cfof]hgfaf6 k|fKt x'g] cfodf klxnf] !) jif{ cfos/ 5'6 tyf ;f] kZrft % aif{sf] nflu %) k|ltzt cfos/ 5'6 k|bfg ul/Psf] x'Fbf
nfef+zsf] b/ a9L /x]sf] .
@_ sDkgL tyf cfof]hgf Aoj:yfkgdf bIf Pj+ cg'ejL hgzlQm /x]sf]n] of] sDkgL g]kfndf hnljB't cfof]hgfsf] ljsf; / lgdf{0fsf]
sfo{ ;dod} ;DkGg ug{ ;kmn x'g] ck]Iff ul/Psf] .
#_ hnljB'tsf] If]qdf cWoog cg';Gwfg tyf ljsf; sfo{df of]hgfa4 9+un] ;dlk{t eP/ sfd ul//x]sf]n] o; sDkgLsf] eljio pHHjn
/x]sf] .
-0f_ z]o/ /lhi6«f/ ;DaGwL Joj:yf M g]kfn :6s PS;r]Gh lnld6]8df ;"lrs/0f u/] kZrft\ z]o/sf] bflvn vf/]h, b:tvt ?h' cflb ;DaGwL
sfo{ o; sDkgLsf] sfof{noaf6 jf sDkgLsf] ;~rfns ;ldltn] tf]s] adf]lhd z]o/ /lhi6«f/sf] sfof{noaf6 x'g] u/L Aoj:yf ul/g]5 .
-t_ lwtf]kq laqmL v'Nnf cjlw M
o; ljj/0fkq dfkm{t pBf]u k|efljt If]qsf jfl;Gbfx?df lgisfzg ul/g] ;fwf/0f z]o/sf] nflu cfa]bg lbg] cjlw sDtLdf !% -kGw|_ lbg /
a9Ldf #) -tL;_ lbg x'g]5 . pQm calwdf pBf]u k|eflat If]qsf jfl;Gbfx?sf nflu lgisfzg u/]sf] z]o/ k'/f ljqmL gePdf pQm ljqmL
gePsf] z]o/ ;d]t yk u/L ;j{;fwf/0fsf] nflu cfj]bg lng] sfo{ sDtLdf rf/ sfo{ lbgsf] nflu v'Nnf ul/g]5 . ;f] cjlwleq lgisf;g
ul/Psf] ;a} lwtf]kq laqmL gePdf ;+:yfut nufgLstf{n] ;d]t cfa]bg ug{ kfpg]u/L bf>f] r/0fsf] b/vf:t v'Nnf ePsf] ldltn] j9Ldf !%
lbgsf nflu lwtf]kqsf] b/vf:t v'Nnf /xg]5 . cfjZostf eGbf a9L ;fwf/0f z]o/sf] nflu cfj]bg kg{ cfPdf s'g} klg avt ;fwf/0f z]o/sf]
laqmL aGb ug{ ;lsg]5 t/ $ -rf/_ sfo{ lbgeGbf cuf8L z]o/ vl/bsf] nflu cfj]bg lng] sfo{ aGb ul/g] 5}g .
u=@#= -s_ a}+sLË laQLo jf aLdf ;DaGwL Aoj;fo ug]{ ;+ul7t ;+:yf afx]ssf cGo ;+ul7t ;+:yf lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# sf]
lgod ( pk-lgod # adf]lhd lwtf]kqsf] ;fj{hlgs lgisf;g ubf{ b]xfosf zt{x? k'/f u/]sf] x'g' kg]{ 5 M
s=
zt{x? kfngf eP/gePsf]
qm=
cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf nflu
s= kfngf ePsf] .
cfjZos sfo{x? cufl8 a9fO{ Ps jif{sf] cjlw k"/f u/]sf] .
o; sDkgLn] sDkgL P]g, @)^# adf]lhd ;fwf/0f ;ef ub}{ cfO/x]sf] / ldlt
@)&&.)(.@( ut] ;DkGg aflif{s ;fwf/0f ;efaf6 lh= kf}8\ofn P08 P;f]l;P6\;,
v= k|rlnt sfg"g adf]lhd n]vfkl/If0f tyf ;fwf/0f ;ef rf6{8 Psfp06]06\;, sf7df08f}+sf rf6{8 Psfp06]06, >L 3gZofd kf}8]n nfO{
;DkGg u/]sf] .
sDkgLsf] cf=a= @)&&/&* sf] nflu n]vfkl/Ifs lgo'Qm ul/Psf] .
an]kmL xfO8«f]kfj/ lnld6]8n] ldlt @)^*.!!.#) df sDkgL /lhi6«f/sf] sfof{nodf
cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf nflu k|rlnt
btf{ eO{ ldlt @)&#.)(.!* df lnld6]8df kl/0ft eO{ ldlt @)&#÷)$÷!@ df #^
sfg"g adf]lhd s'g} lgsfoaf6 Ohfht, cg'dlt jf :jLs[lt
u= d]=jf= Ifdtfsf] dflyNnf] an]kmL æPÆ hnljB't cfof]hgf lgdf{0f sfo{sf] nflu >L
lng'kg]{ ePdf To:tf] Ohfht, cg'dlt jf :jLs[lt
phf{ dGqfno ljB't ljsf; ljefuaf6 ljB't pTkfbg cg'dltkq -lj=lj=lj
lnO;s]sf].
)&#÷&$ lj=p=!^#_ k|fKt u/]sf] .
;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf v/Lb jf cGo
k|sf/n] Aoj:yf u/L sf/vfgf ejg, sfof{no ejg,
3= pQm sfo{x? ;DkGg eO{ cfof]hgf lgdf{0f sfo{ eO{ /x]sf] .
uf]bfd3/ tyf cGo cfjZos ;'ljwfx?sf] lgdf{0f sfo{ z'?
ul/;s]sf] .
pTkfbg k|ljlw 5gf}6 u/L pBf]usf] nflu cfjZos kg]{ o; sDkgLsf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6k'hf{ cflb
ª= oflGqs pks/0f tyf To;sf kf6{k"hf{ cflb vl/b ug{'kg]{ vl/b ug{ 7]Ssf ;Demf}tf eO{ ;f] cg';f/ sfo{ eO/x]sf] .
ePdf 6]08/ cflb u/L v/Lb k|s[of cufl8 a9fO{ ;s]sf] .
lwtf]kqsf] ;fj{hlgs lgisf;g ;DaGwdf lgisf;g tyf lgisf;g tyf ljqmL k|aGws >L Unf]an cfOPdO{ SofkL6n ln= ;uF ldlt
r=
laqmL k|aGws;Fu ;Demf}tf e};s]sf] . @)&^÷)$÷)^ df ;Demf}tf ePsf] .
cfof]hgfsf] lgdf{0f cjlwe/ sDkgLsf] C0f / kF"hLsf]
sDkgLn] cfof]hgf lgdf{0f cjlwe/ sDkgLsf] C0f / k'FhLsf] cg'kft lwtf]kq
5= cg'kft lwtf]kq lgisfzg lgb]{lzsfdf tf]lsPsf] cg'kftdf
lgisf;g lgb]{lzsfdf tf]lsP adf]lhd /fVg ;xdt ePsf] .
/fVg ;xdt ePsf] .
;+:yfksx?n] lng sa'n u/]sf] lwtf]kqsf] /sd zt k|ltzt ;+:yfksx?n] cfkm'n] lng sj'n u/]sf] /sd zt k||ltzt r'Qmf e};s]sf] .
h=
r'Qmf e};s]sf] .
o; sDkgLn] lgdf{0f ub}{ cfO/x]sf] dflyNnf] an]kmL æPÆ hnljB't cfof]hgf
kl/of]hgf lgdf{0fsf nflu kmfOgflG;on Snf]h/ -#^ d]=jf=_sf] lgdf{0fsf nflu ldlt @)&#÷)&÷@^ ut] ln8 a}+s Unf]an cfOPdO{
em= a}+s tyf ;xljlQos/0f a}+sx? qmdzM Pe/]i6 a}+s ln=, ;flgdf a}+s ln= / /fli6«o
(Financial Closure) e};s]sf] . jfl0fHo a}+s ln= -;fljs PgcfOl8;L 8]enkd]06 a}+s ln=_ aLr C0f ;Demf}tf eO{
kmfOgflG;on Snf]h/ e};s]sf] .
hnljB't pTkfbg ;+:yf ePdf, ljB't vl/b ;Demf}tf o; sDkgLn] g]kfn ljB't k|flws/0f;Fu ldlt @)^*.)&.@* df ljB't vl/b
~f= ul/;s]sf] / hnljB't u[x tyf cGo k"jf{wf/x? lgdf{0fsf] ;Demf}tf ul/;s]sf] / hnljB't u[x tyf cGo k"jf{wf/ lgdf{0fsf nflu 7]s]bf/
nflu 6]08/ cfJxfg ul/;s]sf . 5gf}6 u/L sfo{x? ;Dkfbg ub}{ cfPsf] .
;j{;fwf/0fsf nflu lgisf;g ug{ nfu]sf] z]o/x? lgb]{zgdf >L Pg=Pd=la= Soflk6n ln=sf] cu'jfOdf ;g/fOh Soflk6n ln=, s'df/L Soflk6n
6=
tf]lsP adf]lhd k|Tofe"lt u/fPsf] . ln= / lxdfnog Soflk6n ln=af6 ldlt @)&^.!!.)# ut]sf lbg k|Tofe'tL ;Demf}tf

31
 ;DkGg ePsf] .

-v_ o; ljj/0fkqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g, ;f] df s'g} km/s k/]df xfdL ;~rfnsx? k"0f{ ?kdf lhDd]jf/ x'g]5f}+ egL
;xL 5fk ug]{ ;~rfns tyf lj1x?sf] gfd tyf b:tvt M

l;=g+= ;~rfnsx?sf] gfd kb b:tvt

>L pd]z s;h',
!= rf}tf/f %, l;Gw'kfNrf]s . cWoIf
>L ;'lzn u'Ktf
@= sf=lh=sf=d=g=kf= j8f g+= #@, sf7df08f}+ . ;~rfns
>L ;GbLk s'df/ ;f/bf
#= nxfg ^, l;/xf . ;~rfns
>L zlQm s'df/ uf]Nof0f
$= lj/f6gu/ !&, df]/Ë . ;~rfns
>L z'ne cu|jfn,
%= sf=lh=sf=d=g=kf= j8f g+=$, sf7df08f}+ . ;~rfns

u=@$ lgisf;g tyf laqmL k|aGwssf] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\ ;l6{lkms]6_ sf] k|lt M

32
u= @% ljj/0fkq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] eP ;f] ;DaGwL kq M

33
34