If the loan is not paid on the due date, legal action will be taken for recovery
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The Bagmati State Government, Ministry of Cooperatives and Poverty Alleviation has issued a notice asking all the debtors of the cooperatives declared to be in trouble to pay their debts by the end of August. Otherwise, a warning has been given that legal action will be taken to recover the debt.
The office of the troubled cooperative management committee under the Ministry of Cooperatives and Poverty Alleviation of the Bagmati Government has issued a notice on Friday. According to section 81 of the Provincial Cooperatives Act, 2076, the debtors of Civil Savings and Loan Cooperatives, Darshan Savings and Loans Cooperatives, National Namobuddha Savings and Loans Cooperatives, Laliguras Savings and Loans Cooperatives and Sumeru Savings and Loans Cooperatives have been asked to pay the principal and interest of the loan amount to the committee's bank account within August 31.
2082 In the case of borrowers who do not come to repay the loan even by the middle of August, the committee has informed that it has been decided to collect the loan by calculating the amount of principal, interest and damages up to the day before the loan repayment date. Otherwise, the process of necessary legal action related to debt recovery will be taken forward, the notice also mentions.
