Supreme Court Issues Directive to Address Systemic Crisis in Nepal's Cooperative Sector

Kathmandu. The Supreme Court has termed the current crisis in the cooperative sector a 'systemic failure' and issued a directive order for its resolution.A bench of Justices Kumar Regmi and Meghraj Pokharel has issued a directive to establish a 'Cooperative Victims Relief Fund' by confiscating the assets of cooperative officials and loan defaulters found guilty of misappropriating savings. The court has directed that priority for relief from these confiscated funds be given to female victims, single women, senior citizens over 60, Dalits, and persons with disabilities.Advocate Rabindra Prasad Sharma and other petitioners had filed a writ petition claiming that savings...