KATHMANDU, April 8: The Kathmandu Metropolitan City (KMC) received and registered complaints against 18 cooperatives operating in Kathmandu in four months from mid-November 2021 to mid-March 2022.
According to the Department of Cooperatives (DoC) under the KMC, these cooperatives have been accused of embezzling deposits worth Rs 49 million from their members. The DoC wrote to four cooperatives concerned to pay the amount dues to their depositors while it forwarded the remaining 14 cases to the police.
Kiranodaya Multipurpose Cooperative, Manapathi Triple M Multipurpose Cooperative, Aadharbhut Multipurpose Cooperative, Monsoon Savings and Credit Cooperative, Muskil Ma Sajilo Cooperative, Hallmark Cooperative, Social Savings and Credit Cooperative, Griha Shanti Cooperative, The Next Savings and Credit Cooperatives and Sangharsha Savings and Credit Cooperative, among others, were among the cooperatives accused of embezzling the money of their depositors.
According to the KMC, it received complaints against 50 Kathmandu-based cooperatives in the past six years.