The Problematic Cooperatives Management Committee has requested the public to provide information regarding assets allegedly hidden by operators of 23 problematic cooperative institutions. The committee has made public a list of such operators and has urged citizens to report any knowledge of property or funds that may have been transferred or concealed under the names of family members, relatives, or other individuals.
According to the notice, if anyone has information that cooperative funds or assets have been misappropriated and subsequently transferred to relatives, family members, or other third parties, they are encouraged to report it directly to the committee’s office. The committee stated that such information will be crucial in identifying and recovering misused cooperative funds.
The committee has also instructed the concerned operators to actively cooperate in settling liabilities, recovering loans, identifying assets and resources, and maintaining regular communication with the authorities. It further warned that failure to cooperate in refunding savings and managing liabilities may result in legal action under prevailing laws.
Additionally, the committee has requested concerned parties to contact the office in case of any errors or outdated information in the published details.
This move comes amid a growing number of cooperative financial fraud cases across the country, where thousands of depositors have faced financial losses. The committee’s initiative is aimed at tracing hidden assets and facilitating the recovery of funds for affected savers.
Cooperative Assets Recovery Notice Summary
| Category | Details |
|---|---|
| Issuing Body | Problematic Cooperatives Management Committee |
| Subject | Recovery of hidden assets of cooperative operators |
| Number of Cooperatives | 23 problematic cooperatives |
| Main Action Requested | Public reporting of hidden or transferred assets |
| Target Individuals | Cooperative operators and their associates |
| Allegation | Misuse and concealment of cooperative funds |
| Public Role | Report information on hidden assets |
| Operator Requirement | Settle liabilities and cooperate with recovery process |
| Legal Warning | Action under prevailing laws for non-cooperation |
| Update Provision | Corrections and updates allowed via committee office |
| Context | Rising cooperative fraud cases in Nepal affecting depositors |
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