Problematic Cooperative's Land to be Auctioned

Kathmandu. The office of the Problematic Cooperative Management Committee has called for a 35-day sealed bid tender for the auction sale of land in the name of Shri Laligurans Multipurpose Cooperative Institution Limited.

The Government of Nepal had declared the said cooperative problematic on Falgun 29, 2080 and sent it to the committee formed under Section 105 of the Cooperative Act, 2074 for the management of the institution's assets and liabilities. This auction process has been initiated because the cooperative, its debtor members, and operators did not settle the principal, interest, fines, and penalties due, even after publishing a notice in accordance with Rule 75 of the Cooperative Regulations, 2075.

The land to be auctioned is located in the former Harisiddhi Village Development Committee Ward No. 5B of Lalitpur District. The land, with plot number 399, has an area of fourteen annas three paisa. The minimum price for this land has been set at 4 lakh rupees per anna, with a total minimum price of 59 lakh rupees. This minimum price has been determined by setting the prevailing market value in accordance with clause (ch) of sub-rule 1 of rule 30 of the Cooperative Regulations, 2075.

Individuals, institutions, or depositors interested in purchasing the land must submit a sealed bid within 35 days from the date of publication of this notice. This call has been made in accordance with clause (j) of sub-rule (1) of Section 106 of the Cooperative Act, 2074. Bids below the specified minimum price will not be accepted. Interested parties can view the auction terms and other detailed information on the official website of the Management Committee's office at www.coopmc.gov.np.