Chennai’s Lungi pleasantly surprised by pace-friendly Pune track

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Chennai’s Lungi pleasantly surprised by pace-friendly Pune track

South Africa’s Lungi Ngidi appeals. Photo: Reuters

NEW DELHI: Fast bowlers usually have uncharitable words to describe Indian wickets but Lungi Ngidi was full of praise for the Pune surface where he wrecked Kings XI Punjab on Sunday in a stellar display of pace bowling in the batsman-dominated format.

The Chennai Super Kings bowler tormented Punjab batsmen with his pace and movement to return 4-1-10-4 in the five-wicket Indian Premier League (IPL) victory at the Maharashtra Cricket Association Stadium.

“Having seen (new ball partner Deepak) Chahar bowl the first over, there was a bit of bounce and pace in the wicket. I was grinning there from the boundary,” the South African said after Chennai’s last group match.

Encouraged by the bounce and carry, the 22-year-old steamed in with keeper Mahendra Singh Dhoni gathering several deliveries above shoulder height.

“When I got the ball, and bowled my first ball I actually saw that it’s a very quick wicket and it was playing a lot in my favour,” Ngidi later told reporters.

“I tried to pitch it on the fourth stump line, (thinking) whether it was swinging away or swinging back in, let the batsmen deal with that.

“It was a very good wicket for fast bowlers I’d say. It was very exciting to see Indian conditions offer such a fast bowler-friendly wicket.”

Lungi left the Chennai camp and returned home last month after his father passed away but has been a steady performer for the two-time champions since his return.

On a pitch of his liking on Sunday, Ngidi dismissed the dangerous Chris Gayle for a duck in his maiden first over. In his next, he brought one back to breach the gate of KL Rahul, conmfortably Punjab’s best batsman this season.

He then returned to dismiss Punjab captain Ravichandran Ashwin and Andrew Tye in the same over on his way to register his best Twenty20 figures, which also earned him the Man of the Match award.

Bought for five million Indian rupees ($73,448) in the players auction, Lungi said his maiden IPL experience had uplifted his mood following the family tragedy.

“It was the last thing I expected,” he said of the January auction.

“I never thought I’d get picked up in the auction. But the way the coaching staff and (captain) MS Dhoni have backed me has been really amazing.

“The experience here has been eye-opening. I have never played in front of such crowds but then again this is the kind of stages where you find out how really good you are.”

Party-pooper Delhi Daredevils, who finished last in the eight-team league, beat defending champions Mumbai Indians on Sunday as Rajasthan Royals grabbed the final playoff slot.

Table-topper Sunrisers Hyderabad will now clash with Chennai in Tuesday’s qualifier with the winner making it to Sunday’s final.

Kolkata Knight Riders will take on Rajasthan in Wednesday’s eliminator. The winner of which will meet Tuesday’s beaten side for a place in the final in Mumbai.

 

The post Chennai’s Lungi pleasantly surprised by pace-friendly Pune track appeared first on The Himalayan Times.

Written by Mausam This news first appeared on https://thehimalayantimes.com/sports/chennais-lungi-pleasantly-surprised-by-pace-friendly-pune-track/ under the title “Chennai’s Lungi pleasantly surprised by pace-friendly Pune track”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Nadal edges Zverev to win Italian Open in rainy Rome

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Nadal edges Zverev to win Italian Open in rainy Rome

Spain’s Rafael Nadal in action during the final. Photo: Reuters

ROME: Rafa Nadal made the best of a rain delay to come from behind in the deciding set and beat defending champion Alexander Zverev 6-1 1-6 6-3 in the Italian Open final on Sunday.

The win gave the Spaniard his 56th title on clay and he will reclaim the world number one ranking from Roger Federer when the revised ATP standings are released on Monday.

“My first victory here in 2005 was one of the most beautiful victories of my career,” Nadal said after collecting his eighth title in Rome, yet his first since 2013. “To have this trophy again with me after so many years is really very special.”

Nadal made a shaky start, losing his serve in the opening game before bouncing back.

The 31-year-old top seed broke Zverev to level the score and then turned up the heat, striking eight winners and making only four unforced errors to his opponent’s 10 to take the opener.

Zverev regrouped, holding for the first time in the match at the start of the second set before breaking Nadal to lead 2-0.

The 21-year-old came into the final as the form player on the ATP Tour, and he settled into a rhythm that had Nadal on the back foot on his favourite surface.

The youngster went 0-30 down while serving for the set but kept his head to win next four points before forcing the decider with a backhand winner down the line.

He carried his momentum into the third set, breaking Nadal to go 2-0 up and gain an early advantage.

Nadal kept himself alive with a hold to love, and two more service games went by before play was halted for the first time with the rain spitting down.

Nadal emerged after a short break trailing 3-1 and held serve again before the heavens opened a second time, forcing the 45-minute delay that proved decisive.

COMEBACK

The Spaniard broke back immediately after the restart to draw level at 3-3 and then held to 15 to get his nose in front.

Scenting blood, Nadal did what he does best, hounding Zverev into coughing up another break point that he claimed with a stunning crosscourt backhand volley.

His confidence soaring, Nadal served for the match, gaining two match points with a trademark forehand winner.

Zverev saved the first, but could do nothing about the second as Nadal dropped a short volley over the net to claim the title.

“You’re the greatest clay court player of all time and I think everybody saw that today,” Zverev said.

READ ALSO:

 

The post Nadal edges Zverev to win Italian Open in rainy Rome appeared first on The Himalayan Times.

Written by Mausam This news first appeared on https://thehimalayantimes.com/sports/nadal-edges-zverev-to-win-italian-open-in-rainy-rome/ under the title “Nadal edges Zverev to win Italian Open in rainy Rome”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Andy Robertson: ‘The problem with Real Madrid is they’re all fantastic’

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The Liverpool left-back on how he went from being a Celtic reject to facing Cristiano Ronaldo in the Champions League final

“It’s hard not to think about it,” Andy Robertson says as he looks forward to the Champions League final after the Liverpool left-back has reflected for 45 minutes on his uplifting story from being a Celtic reject and relegated with Hull City a year ago to facing Cristiano Ronaldo and Real Madrid in Kiev this Saturday. “When you’re lying in bed you just think: ‘What if?’”

Robertson’s freckly face breaks into a helpless smile. He has fought hard to reach this point but the 24-year-old Scot allows himself to enjoy the fleeting anticipation of Liverpool possibly becoming European champions for a sixth time with Robertson as one of their new cult heroes. “That’s natural,” he says during a break at Liverpool’s training camp in Marbella. “Real Madrid have been to three finals in the last four years so they’ll do the same.”

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Written by Donald McRae This news first appeared on https://www.theguardian.com/football/2018/may/21/andy-robertson-liverpool-real-madrid-interview-champions-league-final under the title “Andy Robertson: ‘The problem with Real Madrid is they’re all fantastic’”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Willie Mullins’ vet Tim Brennan accused of passing on inside information

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• BHA charges relate to suspicious lay bets on Faugheen
• Hurdler was withdrawn before 2016 Cheltenham Festival

Willie Mullins’s vet, Tim Brennan, has been accused by racing’s ruling body of telling his brother Michael about an injury to Faugheen before the 2016 Champion Hurdle, allowing Michael to make a profit by betting against the horse online. The stunning charges were published on Monday and will be heard by a disciplinary panel in July.

“I have no comment to make,” was the terse response from Tim Brennan when contacted by the Guardian. It is expected that he will defend himself against British Horseracing Authority charges. Mullins did not immediately respond to a request for comment but the BHA has said the trainer is not accused of any wrongdoing.

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Written by Chris Cook This news first appeared on https://www.theguardian.com/sport/2018/may/21/willie-mullins-vet-tim-brennan-charged-inside-information-faugheen-british-horseracing-authority under the title “Willie Mullins’ vet Tim Brennan accused of passing on inside information”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Exeter and Saracens show pedigree to promise spectacular grand finale

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The Premiership’s two top clubs have hit peak form at the perfect time for their Twickenham showdown after overwhelming wins

Major finals featuring the competition’s two best teams peaking at precisely the right moment are surprisingly few in number. Not this year. When it really counted Saracens and Exeter performed as well as they have done all season in their respective semi-finals on Saturday, paving the way for a rip-roaring Premiership finale at Twickenham.

If Saracens were spectacular at times in their 57-33 destruction of Wasps, the Chiefs were even more dominant in crushing Newcastle 36-5 at Sandy Park. The two top teams in the end-of-season table have raised their play-off games and neither sounds inclined to settle for consolatory pats on the back on Saturday.

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Written by Robert Kitson This news first appeared on https://www.theguardian.com/sport/2018/may/21/saracens-exeter-premiership-final under the title “Exeter and Saracens show pedigree to promise spectacular grand finale”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Fernando Torres takes his leave as Atlético Madrid’s historic memory | Sid Lowe

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This time it really was the end for The Kid, taking his final bow with Atlético on an emotional evening at the Wanda

Defeat hit hard and so did the coach, apportioning blame and pointing the finger; they had let everyone down, he said. It was 2001, Spain had been knocked out of the U17 World Cup, and during the flight home Fernando Torres and Andrés Iniesta, close friends since they had met at 14, decided to put their feelings into words. As they sat on the plane, they wrote a letter outlining everything that had gone wrong. They never posted it but the writing helped and when they touched down back at Barajas airport they swapped shirts, dedicating them to each other. On the shirt Fernando handed to Andrés, it read: “One day you and me will win the World Cup together.”

Nine years later, they did. Eight years after that, they bade farewell together. Six hundred kilometres apart but on the same day – the kids, fathers now, who scored the two most important goals in Spain’s history, in Vienna in 2008 and Johannesburg in 2010, played their last games at their clubs. Their paths have not been the same, but their departures shared more than just a date and because there are two of them, friends, team-mates and popular idols, because they leave the country, the loss feels more significant still.

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Written by Sid Lowe This news first appeared on https://www.theguardian.com/football/blog/2018/may/21/fernando-torres-takes-his-leave-as-atletico-madrids-historic-memory under the title “
Fernando Torres takes his leave as Atlético Madrid’s historic memory | Sid Lowe
“. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Champions Barca bid Iniesta farewell after beating Sociedad

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Champions Barca bid Iniesta farewell after beating Sociedad

Barcelona’s Andres Iniesta and team mates celebrate after the La Liga match between FC Barcelona and Real Sociedad, at Camp Nou, Barcelona, Spain, on May 20, 2018. Photo: Reuters

BARCELONA: La Liga champions Barcelona ended their campaign with a 1-0 win at home to Real Sociedad on Sunday thanks to a sensational distance strike from Philippe Coutinho as the Nou Camp paid an emotional farewell to departing captain Andres Iniesta.

Coutinho drifted inside from the left and held off two defenders outside the area before rattling the ball in off the far post with a venomous shot, breaking the deadlock in the 57th minute.

The league’s top scorer Lionel Messi started the game on the bench but replaced Coutinho in the 67th minute. Iniesta was substituted in the 82nd, hugging most of his team mates as well as some Real Sociedad players and the referee as he left the Nou Camp pitch for the last time as a Barca player.

Barca’s fans held up a mosaic before the game reading “Infinite Iniesta”. They later revealed a banner saying “Thanks for so much” in tribute to a player who came through the club’s academy and spent 16 years pulling the strings in midfield, winning nine Liga titles, four Champions Leagues and six domestic Cups.

They continued to sing Iniesta’s name long after he had gone off the pitch. The captain returned with his team mates after the final whistle to lift the club’s 25th Liga title and also show off the King’s Cup trophy which they won in April, beating Sevilla 5-0 in the final.

“Today is a difficult day. I have spent 22 marvellous years here and I’ve been so proud to defend and represent this badge, which for me is the best in the world,” Iniesta said, addressing the Barca fans from the pitch.

“Thanks to all our fans, for the support you’ve shown and the respect you have given me. I came here as a boy and I leave aged 34 as a man. I’ll always carry you in my heart.”

Barca end the season on 93 points, 14 more than second-placed Atletico Madrid and 17 above last year’s champions Real Madrid. Ernesto Valverde’s side lost only one Liga match, last week’s 5-4 defeat at Levante.

The post Champions Barca bid Iniesta farewell after beating Sociedad appeared first on The Himalayan Times.

Written by Siddhartha Pokharel This news first appeared on https://thehimalayantimes.com/sports/champions-barca-bid-iniesta-farewell-after-beating-sociedad/ under the title “Champions Barca bid Iniesta farewell after beating Sociedad”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Inter leapfrogs Lazio to take final Champions League spot

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Inter leapfrogs Lazio to take final Champions League spot

Inter’s Matias Vecino celebrates after scoring his side’s 3rd goal, during the Serie A match between Lazio and Inter Milan at the Rome Olympic Stadium, Rome, Italy, on Sunday, May 20, 2018. Photo: Associated Press

MILAN: Inter Milan is back in the Champions League.The Nerazzurri trailed 2-1 with 13 minutes left but fought back to beat 10-man Lazio 3-2 and secure a spot in Europe’s premier club competition for the first time since 2012, following Matias Vecino’s late header.

“The Champions League has been our aim since the beginning of the season,” Inter captain Mauro Icardi said. “We were aware of our strength from the start and finally we did it — after a crazy match.”

Inter moved fourth with the same number of points as Lazio but with a better head-to-head record. Champion Juventus, Napoli and Roma are the other Italian teams to qualify for the Champions League.

Several Lazio players were in tears after the final whistle.

“We should have probably sealed the Champions League place earlier and not needed to do this in this last match,” Lazio coach Simone Inzaghi said.

“Evidently it was destiny. A night like this will remain inside us for a long time.”

This was the first year Italy had four spots in the Champions League and the final berth came down to the last match of the season, with Lazio leading Inter by three points.

It was a thrilling match at a sold-out Stadio Olimpico.

Lazio took the lead when Adam Marusic’s strike smacked Ivan Perisic in the face and ricocheted into the far bottom corner.

The hosts almost doubled their advantage but Sergej Milinkovic-Savic’s free kick came off the post, and Inter leveled in the 29th.

A corner came through to Danilo D’Ambrosio and, although Thomas Strakosha saved his initial attempt, he managed to hook his leg around the goalkeeper to turn it over the line.

Lazio restored its lead four minutes from the break as Senad Lulic threaded a ball through for Felipe Anderson to race forward and fire into the bottom left corner.

Inter was awarded a penalty in the 72nd for a handball by Milinkovic-Savic but the referee changed his mind after seeing the incident again on video review.

The visitors did get a penalty shortly after when Stefan de Vrij, who is set to join Inter next month, fouled Mauro Icardi.

“If someone else had done that foul, nothing would have changed, it was an accident,” Inzaghi said. “I would play him again 100 times, he had a great match.”

Icardi converted to take his tally to 29 for the season, level with Lazio forward Ciro Immobile at the top of the goalscoring charts.

Lulic was sent off following a second yellow card and the turnaround was complete when Vecino headed in a corner nine minutes from time.

NO ESCAPE

There was no great escape for Crotone this year as it lost 2-1 at Napoli on Sunday in the final round of the Serie A season to drop to Serie B.

Crotone avoided relegation last year on the final day with victory at Lazio after picking up 20 out of 27 points.

Crotone knew that a result at Napoli would give it the chance to escape relegation again.

However, goals from Arkadiusz Milik and Jose Callejon gave Napoli the win as it finished the season with a club record of 91 points. Marco Tumminello scored a late consolation for Crotone.

Napoli, which finished second to Juventus, became the first Serie A side to reach 90 points and still not win the title.

In the end, Crotone’s result did not matter as other relegation-threatened clubs — Spal, Cagliari, Chievo Verona and Udinese — all won.

EUROPA LEAGUE

AC Milan was already assured of a spot in the Europa League but made certain of avoiding the qualifying round after coming from behind to crush Fiorentina 5-1.

Elsewhere, Roma won 1-0 at Sassuolo and Torino beat Genoa 2-1.

The post Inter leapfrogs Lazio to take final Champions League spot appeared first on The Himalayan Times.

Written by Siddhartha Pokharel This news first appeared on https://thehimalayantimes.com/sports/inter-leapfrogs-lazio-to-take-final-champions-league-spot/ under the title “Inter leapfrogs Lazio to take final Champions League spot”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

‘Govt is readying ground for country’s regional power trade’

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‘Govt is readying ground for country’s regional power trade’
Barsha Man Pun

The Ministry of Energy, Water Resources and Irrigation recently unveiled a white paper on the energy sector reflecting the status of the sector and plans of the government to boost electricity production in the country. Prioritising the ambitious plan of the government to produce 15,000 megawatts of electricity in the next one decade, the white paper presents a prosperous energy sector for the country in the years ahead. Sujan Dhungana and Umesh Poudel of The Himalayan Times caught up with Barsha Man Pun, minister for energy, water resources and irrigation to know about government’s energy sector-related plans ahead. Excerpts:

The government recently unveiled a ‘white paper’ on Nepal’s energy sector that has vowed to start groundwork to generate 15,000 megawatts of electricity in the next one decade. What progress has been made on that front?

The white paper basically reflects the future concepts and plans of the government in the energy sector. With the end of the political transition, it is time now for us to take the country towards the path of development and prosperity in the next one decade. In a bid to achieve the prosperity target of Nepal, energy and agriculture sectors will have leading roles to play. In fact, these two sectors will be the driving force of the entire development process of Nepal in the days ahead. As the country’s target is to achieve double-digit economic growth within the next one decade, I believe that the domestic market will itself consume almost 10,000 megawatts of electricity once our economy becomes vibrant. Thus, Nepal itself will be a market for a majority of the electricity produced here. The white paper is based on this strategy and projection. In the first phase, we are targeting to generate 3,000 megawatts of electricity within 2021 and all our projects are moving ahead accordingly. I am committed to facilitating all the hydropower projects run by both the government and private sector and ensuring that such projects are completed within the given deadline. Similarly, the government will ensure that all the required infrastructure, including construction of transmission lines for these projects will be completed on time. Likewise, the government will issue generation licences, survey licences and sign Power Purchase Agreement (PPA) of different hydropower projects in the near future with a view to achieving the national target of generating 15,000 megawatts of electricity in the next one decade. The government will also work on developing national and regional markets targeting the consumption of domestically produced electricity.

The government’s plan to form an Electricity Regulatory Commission to regulate the generation and transmission of electricity has not been formed yet. What is hindering the government from establishing the ERC?

Along with the government, a number of private firms are operating hydropower projects after taking licence from the government. In the future, the number of hydropower projects run by both the government and private sector is bound to increase as per our electricity goal. As Nepal will have a huge amount of electricity added to the national grid in the coming years, the energy sector requires proper management. Thus, it is essential that we form an independent regulatory body, Electricity Regulatory Commission (ERC), to look after issues related to licensing, electricity generation, distribution and marketing. The government has already endorsed the Electricity Regulatory Act, which envisions the formation of ERC. The government will soon form a ‘search committee’, which will recommend the government on the structure and officials at ERC. The formation of ERC was delayed in the past as the government is busy in implementing federalism — defining administrative roles of different layers of government and development activities. I assure that the ERC will get a complete shape soon.

Plans were afoot to review the cross-border Power Trade Agreement with India, especially to address the restrictive power trade provisions in Indian laws. What has been the progress so far?

Nepal has access to market for electricity in the SAARC region and different policies and agreements have guaranteed our access. However, the Indian government last year drafted a regulation that states that only those companies fully owned by the governments of the concerned countries and having 51 per cent equity investment of Indian public or private companies can export power to the Indian market. The Nepali government has already questioned this provision in the Indian law and the issue was raised during the recent visit of Prime Minister KP Sharma Oli to the southern neighbour. Moreover, the Indian authorities have assured us about holding further discussions on Nepal’s concern on the concerned provision in the regulation. We are optimistic that Nepal’s surplus electricity will get easy access to the Indian market. Nepal has also formulated the concept of energy banking with regard to Nepal-India electricity trade and the Indian government has sought a concept paper on it from the Nepali government. The energy banking concept intends to have a policy for exchange of electricity between the two countries as per supply-demand conditions during dry and wet seasons. However, all these things are possible only if we have effective electricity transmission lines. Though the 400-kV Dhalkebar-Muzaffarpur cross-border transmission is currently operating under limited capacity, the government will start full-fledged operation of the transmission line soon. Similarly, the detailed project report (DPR) of the second cross-border transmission line — Butwal-Gorakhpur — has already been approved. Similarly, construction of Kohalpur-Lucknow cross-border transmission line is in the government’s plan. Thus, the government will not only focus on implementing different cross-border electricity pacts and policies, but will also assure gateways for electricity trade with different countries by developing cross-border electricity transmission lines. In a bid to start electricity trade with China, the construction of Galchi-Rasuwagadhi-Kyirung transmission will be one of the major agendas during Prime Minister Oli’s upcoming visit to China. Similarly, the government plans to sign Power Trade Agreements with China and Bangladesh in the near future. Currently, the government is readying necessary ground for the country’s regional power trade. It is essential that regional power trade agreements are signed and implemented effectively along with increased generation of electricity in the country.

Under your leadership, the MoEWRI is preparing to introduce the Integrated Water Management Policy. What issues will this policy address?

As Nepal is rich in water resources, its effective utilisation is necessary. In a bid to ensure effective use of available water resources, a separate policy is necessary. We have already prepared the draft of Integrated Water Management Policy and circulated it among stakeholders for further discussions and feedback. The policy will basically address issues on sustainable use of available water resources in the country and ensure water for all purposes — drinking, hydel projects and irrigation, among others. It will focus on the wise use of underground water, land water and rainfall in the country.

As construction of different reservoir projects has been delayed, Nepal is obliged to purchase electricity from India in the dry season as our hydel projects are run-of-the-river types. How do you plan to expedite construction of planned big hydel projects?

It is only through the development of big hydropower projects and electricity storage facility that we can maintain the supply-demand chain of electricity in the future. As a majority of the works of the 456-megawatt Upper Tamakoshi Hydropower Project has been completed, the government plans to operate the project within the next fiscal year. However, it is true that the construction of 450-megawatt West Seti Hydropower Project has been delayed. A Chinese company has signed a joint-venture agreement with Nepal Electricity Authority to construct the project. However, even if the Chinese company does not undertake the project in the future, the government will construct the West-Seti hydel project through its own resources. Similarly, the construction of Sunkoshi Hydropower Project and Arun-III project will also be expedited to ensure that Nepal is self-sustained in electricity within the next few years.

The post ‘Govt is readying ground for country’s regional power trade’ appeared first on The Himalayan Times.

Written by Sandeep This news first appeared on https://thehimalayantimes.com/business/government-is-readying-ground-for-countrys-regional-power-trade/ under the title “‘Govt is readying ground for country’s regional power trade’”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

7,500 claims filed seeking compensation

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Kathmandu, May 20

A total of 7,500 claims have been filed at the Problematic Cooperatives Wealth Management Committee seeking compensation from Oriental Cooperative. The committee collected claims from victims from April 16 till today from Biratnagar, Birgunj, Kathmandu, Pokhara, Nepalgunj, Surkhet and Dhangadhi.

“A large number of victims are from Kathmandu, Bhaktapur, Biratnagar and Pokhara based on the claims received by the committee,” Rewati Raman Pokharel, member secretary of the committee told The Himalayan Times.

The committee, led by former chairman of the Special Court Gauri Bahadur Karki, will settle the claims on a case by case basis prioritising depositors; outstanding dues to the government; banks; those that had made advance payments for apartments and those who provided loans for the housing projects, and house owners who rented their houses to Oriental’s offices, in that manner. The victims will be gradually rebated after liquidation of Oriental’s property.

It is reported that Oriental Cooperative and apartment projects initiated by Oriental Builders and Developers and other construction companies initiated by chairman of Oriental Cooperative and realty trader Sudheer Basnet misused an eye-popping Rs 4.20 billion in deposits and Rs 1.36 billion parked by customers for housing projects.

Basnet is currently in police custody. He was operating various companies, including housing projects. His housing projects had collected money from the public promising to provide apartments. The housing projects had even sold flats of multi-storied buildings without acquiring permission from the Department of Urban Development and Building Construction.

Majority of the commercial banks and financial institutions, including government-owned Rastriya Banijya Bank and Employees Provident Fund, had financed Oriental’s housing projects. Banks and financial institutions have also claimed for their principal and interest at the committee, according to Pokharel.

The committee has been given the authority to settle the liability of the cooperative through liquidation of seized property. The Department of Cooperatives has already frozen the property of problematic cooperatives. Travel documents of the promoters of concerned problematic cooperatives have also been seized. Individual property owned by Basnet will also be seized and liquidated in a bid to settle the liability created by the cooperative and apartment projects initiated by Basnet. The committee will also recover the loans floated by Oriental Cooperative. The responsibility of the entire property management falls under the jurisdiction of the committee.

“The committee will calculate the liability by verifying submitted claims while settling the cases,” said Pokharel. “While verifying the claim, documents sought by the committee along with the claims are must. Proof of savings amount in the cooperative; share certificates; proof of loan issued to the construction company and other projects; details of fixed property collateral and citizenship certificate will be properly verified before settling the claims.”

The post 7,500 claims filed seeking compensation appeared first on The Himalayan Times.

Written by Sandeep This news first appeared on https://thehimalayantimes.com/business/7500-claims-filed-seeking-compensation/ under the title “7,500 claims filed seeking compensation”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
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