Kathmandu. The Department of Cooperatives of Kathmandu Metropolitan City (KMC) has directed the cooperatives operating in the metropolitan area to submit their details. The metropolis has issued a three-point directive to the cooperatives operating within the regulatory and geographical jurisdiction of the metropolis and asked them to submit the details.

According to Clause 28 (2) and 104 of the Kathmandu Metropolitan City Cooperative Act, 2074, the cooperatives should hold the general meeting within six months from the date of the expiry of each fiscal year and submit the annual report to the metropolis within 15 days from the date of conclusion of the meeting.

Some cooperatives have not submitted their audit report, AGM decisions and annual report up to the fiscal year 2081/082 after holding the Annual General Meeting. The cooperatives have been directed to hold the annual general meeting immediately and submit the decisions of the general meeting and annual reports to the department.

According to Section 66 (3) of the Cooperative Act, 2074 BS, the Department has decided to make public the details of the cooperatives and take legal action against the process of dissolution of the cooperatives if they have not submitted the details of the cooperatives to the annual department by holding annual general meeting for the next two years.

Likewise, the KMC has also requested the metropolis to provide necessary support to the monitoring and inspection teams of cooperatives that fall under the regulatory jurisdiction of the metropolis as per the procedures and indicators stipulated by the Cooperative Act-2074 BS. The Department has been carrying out registration, promotion and monitoring of cooperatives that fall under its jurisdiction.