Kathmandu: Bagmati Province Government’s Problematic Cooperative Management Committee has announced the auction of parking land in front of the Civil Complex at Soltimode, owned by the troubled Civil Savings & Credit Cooperative.
The move aims to recover savings misappropriated by the cooperative’s leadership, including Ichharaj Tamang, who is currently in judicial custody. Authorities plan to sell the asset and return funds to depositors whose money was diverted.
According to the committee, the sale does not involve the Civil Complex building itself, but the parking area in front of it — approximately one ropani (0.12 acres) of land. The minimum bid price has been set at Rs 7.5 million per aana.
The auction notice invites sealed bids that meet or exceed the set minimum price, with proceeds earmarked exclusively for refunding depositors. Interested buyers have 35 days to submit application forms directly to the committee’s office, following various conditions outlined in the tender.
Ministry of Cooperatives and Poverty Alleviation of Bagmati Province had earlier declared the Civil Savings & Credit Cooperative “problematic” and transferred its assets and liabilities to the Problematic Cooperative Management Committee for settlement.
This auction marks one of the key steps in liquidating the cooperative’s assets to fulfill its obligations to savers.
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