Registrations of nine cooperative axed

Waling - The Division Cooperative Office in Syanjya has annulled the registrations of nine cooperative organizations citing the failure on their part to continue financial operations. 

Syangja's Cooperative Inspector, Bishnu Prasad Dhakal, said the registrations of nine cooperative were cancelled as they failed to meet their set goals, and remained inactive. 

According to Dhakal, among the nine cooperative organizations three related to agriculture, two savings and credit, two related to milk production, one of vegetable and fruit production and one related to fish farming have been axed. 

As per the cooperative's rule, the organizations failing to make any transaction for two years, hold the annual general assembly, submit audit report among other details become eligible for getting cancelled out. There are a total of 380 cooperative organizations currently operating in Syangja.