BARA, APRIL 26
There are reports of financial irregularities at Sarbashulav Savings and Cooperatives Limited of Bara's Jitpursimara sub-metropolis.
According to the cooperatives staff, assistant manager Tej Narayan Prasad Mahato has misappropriated more than four million rupees. "He was misappropriating members' contributions by deliberately creating a fake system," cooperatives operator Rajan Poudel said.
The assistant manager is learnt to have been misappropriating funds for the past two years, though something shady was going on even earlier. The organisation, however, hasn't sought any official or legal remedy so far. Meanwhile, with the finding of irregularities, there are internal attempts to get the man involved to reimburse the misappropriated amount. Members suspect that the extent of irregularities is worse than estimated.
Dipak Sharma, a member of the cooperative, said it was unfortunate that the organisation was protecting a staff member involved in huge irregularity by keeping other members in the dark. Further, he demanded proper investigation and stern action against the assistant manager.
The cooperative currently has 900 members associated with it and its transactions is in the ballpark of around 72.5 million rupees.
Mahato himself has admitted misappropriating the cooperatives' fund. "I admit misappropriating some 5 to 7 lakh rupees, but it's sad that others are inflating the misappropriated amount and blaming it squarely on me," he said.
A version of this article appears in the print on April 27, 2021, of The Himalayan Times.