The Ministry of Land Management, Cooperatives and Poverty Alleviation is engaging with various stakeholders as it prepares to refund deposits to savers affected by troubled cooperative institutions. Minister Pratibha Rawal met with Chartered Accountants, Attorney General Dr. Narayandatt Kandel, and CIB Chief AIG Manoj KC to discuss the legal and investigative status of the refund process. Both the Attorney General and the CIB Chief expressed their commitment to facilitate resolving legal complexities and accelerating the recovery of funds. 9 Baisakh, Kathmandu.
The ministry, responsible for land management, cooperatives, and poverty alleviation, has been conducting phased consultations with different parties to refund the deposits of cooperative savers. Centering on recovering funds from troubled cooperatives to reimburse affected savers, Minister Rawal held discussions with Chartered Accountants on Wednesday morning. She subsequently met with Attorney General Dr. Narayandatt Kandel and the Central Investigation Bureau (CIB) Chief AIG Manoj KC.
Attorney General Dr. Kandel updated the minister on the court proceedings related to cases involving troubled cooperatives, while AIG KC briefed her on the current stage of investigations. After the discussions, both Dr. Kandel and AIG KC pledged to facilitate speeding up the recovery of funds currently held up in problematic cooperatives. Dr. Kandel emphasized the critical role of the Attorney General’s office in resolving the legal complications encountered during the process of refunding savers’ deposits.
“A dedicated desk has been established within the Attorney General’s office to handle cases related to troubled cooperatives, which will play a more effective role,” he stated. AIG KC also assured that the CIB will coordinate as necessary. He added, “The CIB will address some complexities identified during investigations from a legal perspective and coordinate accordingly to ensure deposit refunds to savers.” Following the consultation, Minister Rawal urged that there be no procedural delays impeding the government’s declared plan to begin refunding cooperative victims’ funds within 100 days.
