Troubled cooperatives committee names major defaulters from 10 institutions

The troubled cooperatives management committee has begun taking strict actions against major defaulters who are not returning depositors’ money or repaying loans. The committee issued a notice yesterday, revealing the names of major defaulters from 10 different cooperatives that have been declared problematic.

According to the committee, the first phase includes the disclosure of defaulters from cooperatives such as Ghedung Multipurpose, Hamro Sagarmatha, Tapai Hamro, Nagarik Kalyan, Ideal Yamuna, and Tulsi Multipurpose. Additionally, major defaulters from Nepal Financial Cooperative, Oriental Cooperative, Gautam Shree, and Nepal Cooperative Financial Institution have also been listed.

Through the public notice, the committee has instructed these defaulters to contact the committee’s office immediately to settle their outstanding loans. It warned that if they fail to make contact or repay the loans within the specified time, strict legal action will be taken, and recovery processes will be initiated as per existing laws.

The committee plans to gradually release the names of defaulters from other troubled cooperatives as well. This step is part of a campaign to return depositors’ funds. Therefore, other defaulters are also urged to contact the office and fulfill their obligations before their names appear on the public list.

Please check the link for the list of defaulters: https://www.coopmc.gov.np/content/13252/publication-of-list-of-major-debtors/