Kathmandu. The Office of the Troubled Cooperative Management Committee has been able to return Rs 3.71 billion to the cooperative victims and settle the accounts.
According to committee chair Shreeman Kumar Gautam, 61,094 savers of the cooperative had lodged complaints alleging misappropriation, misappropriation and misuse of their savings of Rs 38.42 billion.
According to the committee, 34.71 billion savings are yet to be returned. The committee has been taking responsibility for asset management and payment of liabilities by declaring the cooperatives as problematic for misappropriating, misappropriating and misusing the savings of the savers against the principles, spirit and purpose of the cooperatives.
In this connection, the committee has so far declared 23 cooperatives as problematic, out of which the amount of three cooperatives is being refunded and accounted. In this connection, the committee has proposed to return Rs 298.28 million collected from October 2018 to July 12 to 56,106 people of cooperatives to the savers. At a press conference held here today, it was informed that the amount collected was only 41 to 57 percent of the savings of the savers.
Committee member-secretary Keshav Prasad Poudel said that the possibility of returning 100 per cent of the amount misappropriated by the savers is very low. He said every effort was being made to return the maximum savings of the savers trapped in the troubled cooperatives.
The committee has the right to take ownership of the cooperative and freeze the property and transactions of the directors. Kashi Chandra Baral, a member of the committee, said that the committee has been carrying out the task of recovering the loans of the cooperatives, selling property and returning the collected money in a planned manner.
Oriental Cooperative Limited, Standard Savings and Credit Cooperative Limited, Prabhu Savings and Credit Cooperative Society Limited, Social Savings and Loan Co-operative Society Limited, Luhnibha Multipurpose Co-operative Society Limited, Pashupati Savings and Credit Cooperative Limited, Shivshikhar Multipurpose Cooperative Society Limited and Tulsi Bahumi Cooperative Limited are listed as problematic cooperatives.
According to the committee, 56,106 people including Our New Agricultural Cooperative, Agriculture Development Multipurpose Cooperative, Kantipur Savings and Credit Cooperative, Laligurans Multipurpose Sakari, Gautamshree Multipurpose Cooperative, Gorkha Savings and Credit Cooperative and Nepal Cooperative Financial Institution have the remaining savings to be refunded. Established in December 2017, the committee has been working on various strategic plans to return the money saved by the citizens in the troubled cooperatives under the federal government.
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