Government of Nepal

Ministry of Land Management, Cooperatives and Poverty Alleviation

Office of the Troubled Cooperative Management Committee

Buddhanagar, Kathmandu

Very important information for savers and stakeholders of cooperatives declared as problematic.

(Date of Notification Publication: 2081/12/23)

The Government of Nepal, the Ministry of Land Management, Cooperatives and Poverty Alleviation, on various dates, declared that section 104 of the Cooperative Act, 2074 is problematic, section 105 of the same Act has been declared problematic in the name of the cooperative organizations that have come before this committee for asset management and payment of liabilities, saying that we are responsible for the management functions of the cooperative organizations that have come before this committee for the payment of liabilities, such as Mr. Laligunras Multipurpose Cooperative Society Ltd. This committee has drawn serious attention to the unauthorized activities done through the means. It is a humble request of the organization's victim savers not to follow such misleading SMS/notices that are published or communicated without the approval of this committee. In this way, a notice is published for the information of the interested parties, that any association, organization or person who misleads the savers by sending misleading information that they withdraw the savings without the approval of the committee, will be sent in writing to the relevant agency for action according to the prevailing law. Please visit the website of this committee www.coopmc.gov.np for official information.

Date: 2081/12/22

Source: Kantipur