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The Cooperative Investigation Special Committee has concluded that the regulatory bodies are unaware of the illegal flow of money from cooperatives to Gorkha media.
According to the report of the committee, not only the cooperative but also the company It is mentioned that documents are also prepared artificially. 'A picture of how the documents of not only the cooperative but also the company were prepared becomes colorful. How can there be a voucher stamped by the bank but not the amount?'
Part of the committee's report on the transfer of shares of Gorkha Media is as follows:
According to the Cooperative Law, if a cooperative organization wants to conduct business, business and industry or project, it is related to the purpose and scope of the organization, without registering a separate organization, and if it is required to obtain a license or permit according to the law, it should also be informed to the registrar and branded under the name of the cooperative. And there is no concept of investing in any company or private firm, except for managing the industry or project. But Gorkha Media Network Pvt. Ltd. from cooperative organizations including Suryadarshan of Pokhara and Supreme of Butwal. The money was flowing regularly but no one knew about that act against the law.
Others remain oblivious. Gorkha Media Network Pvt. Ltd. During the inquiry, the directors said that even they did not know that the money was transferred from the cooperative. It may be explained on the basis of the prevailing legal provisions regarding the liability of the company's share owners with respect to the amount received by the company. During the interrogation, Chabilal Joshi, who owns 35 percent of the directors, said that he is Gorkha Media Network Pvt. He said that he did not have information on financial matters as the daily operations of Ltd. were not in operation. Similarly, Rabi Lamichhane, who owns fifteen percent of the shares, told the committee during the inquiry that the executive chairman Gitendrababu (GB) Rai took responsibility for the entire amount that came to the company and this responsibility was also confirmed by the certification made by GV Rai in the company's audit report and management letter. Further discussions held by the committee with the auditors of the cooperative and the company also revealed that the amount flowing to Gorkha Media at that time did not appear to have come directly from the cooperative through the company's bank statement and that the audit report was prepared accordingly after President Rai had expressed a written commitment that all the money was his responsibility.
Gorkha Media Network Pvt. Ltd. Chabilal Joshi and Rabi Lamichhane, the then directors of the company, do not seem to have deposited the full amount of the company's shares in the bank. During the questioning before the committee, Ravi Lamichhane ji said that he had taken fifteen percent of the shares as "Sweat Equity" and had already disclosed this matter. He also said that the responsibility of managing the share transfer of the company was also given to the executive chairman. Based on their answers, it seems that shares were bought and sold without receiving/giving money after submitting the deposit vouchers and showing that banking transactions were done. From this, a picture of how the documents of not only the cooperative but also of the company were prepared. How can there be a voucher stamped by the bank but not the amount?
cooperatives Suryadarshan, Pokhara, Supreme, Butwal, Swarnalakshmi, Kathmandu, Sahara Chitwan, Chitwan and Sanopaila, Birgunj Semat from Gorkha Media Network Pvt. Ltd. The fact that the money flowed in is clear. A large amount of money has flowed from the cooperatives without completing any loan process, without any loan application form or collateral. But not only the two directors of the company, but also the chairman of the board of directors of the cooperative, and other directors also told this committee that they were not aware that such a large amount of money had flowed from the cooperative to the company. The question is ego. It seems that not only the cooperative sector but also the transparency within our entire banking system is under question.
