Government intensifies efforts to recover deposits of cooperative victims

KATHMANDU: The government has intensified efforts to recover savings stuck in troubled cooperatives, with the Ministry of Land Management, Cooperatives and Poverty Alleviation holding a series of consultations with concerned authorities on Wednesday.

The Ministry first held discussions with chartered accountants on possible mechanisms to recover funds from problematic cooperatives. It then held separate meetings with Attorney General Narayan Dutta Kandel and Chief of the Central Investigation Bureau (CIB) Manoj KC.

During the meetings, Attorney General Kandel provided updates on ongoing court proceedings related to cooperative cases, while AIG KC briefed on the current status of investigations.

Both sides expressed commitment to expedite the recovery process of funds stuck in troubled cooperatives. The Attorney General’s Office said it would play a key role in resolving legal complications arising during the recovery process.

Similarly, AIG KC assured coordination in addressing legal challenges identified during investigations and facilitating the recovery process.

Following the discussions, Minister Rajendra Raval reiterated the government’s earlier announcement to initiate the process of returning deposits to cooperative victims within 100 days, stressing that there should be no procedural delays.