Complex sentence: This company was established in 2000 as an IAP/NSP, but the real business started only in December, 2002, under leadership of the new Managing Director, Mr B. K. Dangol.
Split into simpler sentences: This company was established in 2000 as an IAP/NSP. But the real business started only in December 2002 under leadership of the new Managing Director Mr B. K. Dangol.