Problematic Cooperative's Land to be Auctioned

Kathmandu. The office of the Problematic Cooperative Management Committee has called for a 35-day sealed bid tender for the auction sale of land in the name of Shri Laligurans Multipurpose Cooperative Institution Limited.

The Government of Nepal had declared the said cooperative problematic on Falgun 29, 2080 and sent it to the committee formed under Section 105 of the Cooperative Act, 2074 for the management of the institution's assets and liabilities. This auction process has been initiated because the cooperative, its debtor members, and operators did not settle the principal, interest, fines, and penalties due, even after publishing a notice in accordance with Rule 75 of the Cooperative Regulations, 2075.