Only Rs 1.9 million has been found deposited in banks and financial institutions in the name of Sudhir Basnet, the cooperative's promoter, and his relatives, said the committee's chairperson Yubaraj Subedi. Likewise, the cooperative has to repay Rs. 8.3 billion (Rs 4.2 billion principal and Rs 4.1 billion interest) to the depositors.
The total 4.9 billion has to be refunded to those who booked apartments (Rs 3.1 billion principal and Rs 1.8 billion interest) to be constructed by the cooperatives. The cooperative has taken a total of Rs 1.9 billion loan from banks and financial institution, which is yet to be paid back (Rs 1.7 billion principal and Rs 900 million interest).
Furthermore, it has to pay Rs 531 million in tax to the government and Rs 197 million to individual businesspersons from whom it had taken loan. Earlier, the committee had sought applications from depositors, who lost money following the collapse of the cooperative to initiate the fund recovery process.
