Victims of Barah Cooperative Seek Help from Rastriya Swatantra Party

Biratnagar. Victims of Barah Savings and Credit Cooperative in Dharan, Sunsari, have reached the federal capital Kathmandu demanding help to recover their lost billions of rupees.

They have appealed to the Chairman of Rastriya Swatantra Party (RSP), Rabi Lamichhane, reminding him of the party's '100-day promise'.

A team including Shyam Prasad Dhakal, Chairman of the Barah Cooperative Victims Coordination Committee, submitted a memorandum at the RSP's parliamentary party office in Singha Durbar on Friday. Victim Pradip Bastola informed that as Chairman Lamichhane was busy, the memorandum was registered through RSP Chief Whip Kavinra Burlakoti and other officials.

"We have registered a letter at the Federal Parliament Secretariat of Rastriya Swatantra Party. We met with the Chief Whip, Whips, and handed over the letter," said Bastola. "After receiving the letter, they said they would discuss the matter."

RSP had promised in its election manifesto to 'return the money of cooperative victims within 100 days'. "We remind you of your promise in the manifesto that the RSP representatives elected under your leadership would return the money of cooperative savers within 100 days of winning the election," the memorandum states.

Bastola states that they came seeking justice based on that promise, but felt disappointed hearing the government and ministry's response. "RSP's election agenda was to return savings in 100 days. Is that for all cooperatives nationwide or for whose cooperative? Their manifesto says so, but now the ministry says they are only working on 23 cooperatives (falling under the federal government's jurisdiction). Barah Cooperative falls under the jurisdiction of Dharan Sub-Metropolitan City. What will be our situation now?"

The memorandum, signed by Committee Chairman Shyam Prasad Dhakal, Vice Chairman Vishnu Kumar Rai, and Secretary Narendra Kumar Iwaram, mentions that approximately 8 to 10 thousand general public have over 11 billion rupees stuck in Barah Cooperative.

The cooperative stopped returning savings to depositors from November 2078 BS. The general public fell into distress after the money they saved for their future and children's education was lost.

"The main individuals including the cooperative's chairman Man Bahadur Bishwakarma, directors Amar Bahadur Bishwakarma, Gangabahadur Kalikote, among others, are still absconding. Although some departmental heads have been arrested, they have been released on bail. We request that the absconding directors be tracked down as soon as possible, arrested, and legally prosecuted to return our savings," the memorandum states.

The Dharan Sub-Metropolitan City's executive meeting had already declared the cooperative 'distressed' on Bhadra 22, 2079 BS. However, the victims complain that no concrete steps have been taken by the concerned bodies since then. "Dharan Sub-Metropolitan City declared it distressed, but a management committee has not been formed. When we correspond with the ministry, they say it falls under the state or local government's jurisdiction," said victim Bastola. The victims stated that they were forced to knock on the doors of parties in the federal government due to lack of influence and network, and not receiving justice from the local government.

• 10 billion 730 million embezzled!

A case is ongoing in the Sunsari District Court, Inaruwa, alleging that Barah Savings and Credit Cooperative, Barah Group Company, and over two dozen other companies have embezzled over 10 billion 730 million rupees. The charge sheet registered in February 2081 BS claims that 10 billion 730 million 434 thousand 7913 rupees were embezzled and misappropriated by the cooperative institution.

The charge sheet mentions that 5 billion 884 million 408 thousand 473 rupees were embezzled by Shivkumar Bishwakarma (Lamichhane), the cooperative's chairman. This includes 2 billion 713 million 160 thousand 24 rupees by Shivkumar himself, 2 billion 457 million 717 thousand 576 rupees by his father Indrakumar Bishwakarma, and over 710 million rupees by his mother, the late Bishnumaya Bishwakarma.

Similarly, the charge sheet states that 1 billion 231 million 191 thousand 100 rupees are to be recovered from accused Mandira Lamichhane, 1 billion 118 million 181 thousand 217 rupees from Manbahadur Bishwakarma, 376 million 124 thousand 328 rupees from Harikumar Dhamal (Bishwakarma), 481 million 89 thousand 89 rupees from Prakash Lamgade, and 437 million 181 thousand 827 rupees from Shubharaj Khati.

The charge sheet demands punishment and recovery of the claimed amount from Shivkumar Bishwakarma Lamichhane and 35 others, in accordance with Section 122 (kha, ga, chha, jha, nya, ṭa, ḍa, ḍha, and ta) of the Cooperative Act 2074 and Section 3, Sub-sections 1, 2, 3 (kha and 5) of the Organized Crime Prevention Act 2070.

Previously, 4,168 individuals, including Shankar Thapa Kshetri from Dharan 9, had filed a complaint demanding the return of 5 billion 859 million 877 thousand 739 rupees embezzled by the cooperative's directors/chairman and employees. The complaint alleged fraud and organized crime.

The Office of the Attorney General has filed a case against 262 individuals, including shareholders Shivkumar Bishwakarma (Lamichhane), Mandira Lamichhane Bishwakarma, Manbahadur Bishwakarma, Harikumar Dhamala Bishwakarma, Yamba Lwagun alias Indrabahadur Bishwakarma, and other debtors, for cooperative fraud and organized crime. The cooperative's operations have been closed since Jestha 23, 2079 BS.

A detailed study report on Barah Savings and Credit Cooperative by Chartered Accountant Prajwal Adhikari Sharma shows that 25 companies owned by the directors and members of the board have taken 9 billion 625 million 826 thousand 973 rupees.

These include New Barah Jewelry, New Road Peoplebot, Barah Industries, Barah Savings and Credit Cooperative Society Ltd. Dharan, Bhadrakali Gold and Silver Shop Lazimpat, Times Remit Pvt. Ltd., Gorkha & Barah Jewelry Industry Pvt. Ltd. New Road Pokhara, New Barah Jewelers New Road, Barah National Investment Pvt. Ltd., Barah Motors Pvt. Ltd., Indra Barah Travels & Tours Pvt. Ltd., Indra Barah Jewelry Pvt. Ltd. Talchike, Narayan Barah Jewelry, Barah Agricultural Produce and Livestock Farming Pvt. Ltd., Barah Family Kitchen Pvt. Ltd., Barah Bal Sansar Gamezone & Krupa 16D Entertainment, Barah Bhedetar Multipurpose Company Pvt. Ltd. Bhedetar, Barah Department Store Pvt. Ltd., Barah Property Service Pvt. Ltd., Peoplebot Barah Jewelers Pvt. Ltd., Shripa Super Market Store Pvt. Ltd., Baraha Group of Companies, Baraha Children's World Pvt. Ltd., among others.

The report mentions that 271 million 527 thousand rupees are to be recovered as personal outstanding loans. It also indicates that loans amounting to 713 million 949 thousand 537 rupees have been invested in group companies, cooperative directors, ordinary members without collateral, and with collateral, and the interest on these loans, amounting to 363 million 183 thousand 246 rupees, is yet to be recovered.

According to the cooperative's software records, the total savings amount is 9 billion 718 million 980 thousand 520 rupees. The total savings collected through passbooks is 10 billion 510 million 112 thousand 467 rupees.

The cooperative's total liability is 10 billion 899 million 520 thousand 235 rupees. This includes share capital of 101 million 397 thousand 300, collected amount of 689 million 734 thousand 647, savings interest of 15 million 535 thousand 306, savings deposited in jewelry through passbook of 9 billion 718 million 980 thousand 520, outstanding revenue payment of 10 million 130 thousand 368, outstanding interest of 363 million 183 thousand 246, and other liabilities of 558 thousand 848 rupees, according to the report's findings.

Sources of fund collection include bank balance of 727 thousand 780, investments (shares and savings) of 3877 thousand 983, secured loans of 33 million 84 thousand 101, and loan interest of 33 million 169 thousand 281 rupees. Similarly, unsecured loans amount to 45 million 498 thousand and their interest to 47 million 120 thousand, and other received amounts are 24 lakh 94 thousand 243 rupees. The report concludes that the amount to be recovered from the directors is 10 billion 734 million 347 thousand 913 rupees.

Indra Lamichhane (Bishwakarma), who moved to Dharan from Bhojpur, established Barah Jewelry Enterprises in 2052 BS, targeting the 'Lahure' (ex-servicemen) families in Dharan. In a short time, Barah Jewelry gained fame not only in Dharan, the city of 'Lahures', but across the country. It also opened branches in Hong Kong and Dubai. Barah Savings and Credit Cooperative Society was established in 2066 BS. Barah Cooperative had been facing financial crisis since 2078 BS.