Problematic Cooperatives Management Committee Returns Funds to Nearly 4,000 Depositors
Summary
The Problematic Cooperatives Management Committee says it has returned money to nearly 4,000 depositors so far, with priorities given to small savers, senior citizens, single women, persons with disabilities and chronically ill depositors. The committee is working to recover funds from cooperatives through asset verification and auctions, but says legal constraints remain a major obstacle.
Key Points
- About 4,000 depositors have received their money through full and partial settlements and savings matching.
- The committee says it must վերադարձ about Rs 46 billion to 76,000 depositors and has collected around Rs 42 crore so far from various cooperatives.
- Priority is being given first to depositors with savings of Rs 10,000 or less, along with elderly citizens, single women, persons with disabilities and chronically ill depositors.
- Funds are being recovered through auctioning debtor property, while legal restrictions limit repayments in cases that remain sub judice.
