Kathmandu. The Office of the Troubled Cooperative Management Committee has issued a public notice to the borrowers who have taken loans from the cooperatives declared in trouble and have not repaid them immediately. In a notice issued by the committee on Tuesday, the committee has urged the borrowers to pay all the arrears including principal, interest and compensation as soon as possible.

According to the committee, the process of managing the assets of the cooperatives declared problematic as per Section 104 of the Cooperative Act, 2074 has been forwarded.

The committee has urged all stakeholders to repay the loan on time, saying it is necessary to collect the remaining amount from the borrowers for the purpose of returning the amount to the savers.

Meanwhile, the directors, managers, borrowers and guarantors of the problematic cooperatives have also been asked to contact the committee’s office immediately. The committee has warned that action will be initiated as per the law if the loan is not repaid within the stipulated time or if it does not come into contact.