KATHMANDU, MAY 04, 2012
The Nepal Rastra Bank (NRB) has decided to freeze fixed assets of Muna Housing & Developers and Lumbini Infrastructure Private Limited for defaulting big loans taken from now crisis-ridden Gurkha Development Bank.
NRB’s recent board meeting also decided to freeze assets of these companies’ promoters—Gyanendra Bahadur Thapa Magar of Muna Housing and Pashupati Nath Shukla and Nisha Sukla of Lumbini Infrastructure.
Muna Housing has to the pay around Rs 50 million, while Lumbini Infrastructure owes Rs 40 million to the bank, including interests, according to the central bank. An NRB official said they have also decided to take action against Gurkha officials involved sanctioning the loans.
Gurkha is struggling to recover bad loans—the major reason behind the crisis at the bank—as many of its defaulters are at large, according to Gurkha Chief Executive KK Bhattarai. He said the banks needs about Rs 1 billion to turn itself healthy.
The central bank has already frozen banks accounts and assets of bank Gurkha officials, including its former executive chairman Dambar Bahadur Bamjan and directors Nirmal Gurung, Dhan Prasad Rai, Dinesh Shakya, Mina Shrestha, Sanjeev Kumar Mishra, Mahesh Prasad Rijal and Ramesh Tamang.
Other officials include immediate general manager Rajendra Das Shrestha—who is also a promoter of the bank—immediate credit department chief Deepak Rana and former director Prabeen Naulakha.
Nepal Mentha Product Limited Managing Director Rakesh Adukiya, who is related to Gurkha’s promoter firm Krishi Premura Holding; loanees Sajeev Kumar Agrawal and Jeevan Ghimire; Adukiya wife Ruchi and Punam Khetan, directors of Krishi Premura, were also among those facing the central bank’s action.
Source: Kantipur
The Nepal Rastra Bank (NRB) has decided to freeze fixed assets of Muna Housing & Developers and Lumbini Infrastructure Private Limited for defaulting big loans taken from now crisis-ridden Gurkha Development Bank.
NRB’s recent board meeting also decided to freeze assets of these companies’ promoters—Gyanendra Bahadur Thapa Magar of Muna Housing and Pashupati Nath Shukla and Nisha Sukla of Lumbini Infrastructure.
Muna Housing has to the pay around Rs 50 million, while Lumbini Infrastructure owes Rs 40 million to the bank, including interests, according to the central bank. An NRB official said they have also decided to take action against Gurkha officials involved sanctioning the loans.
Gurkha is struggling to recover bad loans—the major reason behind the crisis at the bank—as many of its defaulters are at large, according to Gurkha Chief Executive KK Bhattarai. He said the banks needs about Rs 1 billion to turn itself healthy.
The central bank has already frozen banks accounts and assets of bank Gurkha officials, including its former executive chairman Dambar Bahadur Bamjan and directors Nirmal Gurung, Dhan Prasad Rai, Dinesh Shakya, Mina Shrestha, Sanjeev Kumar Mishra, Mahesh Prasad Rijal and Ramesh Tamang.
Other officials include immediate general manager Rajendra Das Shrestha—who is also a promoter of the bank—immediate credit department chief Deepak Rana and former director Prabeen Naulakha.
Nepal Mentha Product Limited Managing Director Rakesh Adukiya, who is related to Gurkha’s promoter firm Krishi Premura Holding; loanees Sajeev Kumar Agrawal and Jeevan Ghimire; Adukiya wife Ruchi and Punam Khetan, directors of Krishi Premura, were also among those facing the central bank’s action.
Source: Kantipur
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