CIAA for withholding liquidators’ salaries

Kathmandu, April 26:

The Commission for the Investigation of Abuse of Authority (CIAA) today directed the government authorities to take action against liquidators who have been enjoying state facilities without performing their duties.

The CIAA directed the authorities — the Ministry of Industry, Commerce and Supply, the Department of Industry and Company Registrar’s Office — to take appropriate action against the liquidators who were appointed to facilitate the winding up of bankrupt companies.

Acting Chief Commissioner of the CIAA Lalit Bahadur Limbu told this daily that the government had appointed liquidators to look into the winding up of Mechi Sagarmatha Dhan Chamal Udhyog in 1984, Tobacco Development Company in 1995, and Agriculture Lime Industry in 1980 when the companies went bankrupt but the liquidators are yet to submit their reports.

Kumud Tripathi was appointed liquidator of the Mechi Sagarmatha Dhan Chamal Udhyog, Satish Chandra Lal as liquidator of the Tobacco Development Company and others to facilitate the winding up of several bankrupt companies and submit reports about the companies’ liabilities towards the government and their staff.

“We have found that a number of liquidators appointed by the government have only been enjoying the facilities without performing their duties and are a burden to the state exchequer,” Limbu added. “We have told the authorities to withhold their salaries,” he added. “It is wrong to provide salaries and facilities to such staff for an extended period as they were appointed only for short term,” Limbu added.