property of slain royals: Nepal Trust recovered 45,000 pounds

  • Takes over 33,870 ropani land and seven bungalows
- POST REPORT, Kathmandu

Jun 15, 2014-

The Office of Nepal Trust that has mandated to trace movable and immovable properties of slain king Birendra Bir Bikram Shah and his family members said on Sunday that it has nationalised 33,870 ropani land owned by them.

The office also found 45,045 sterling pounds and moveable property worth Rs 10,000 owned by the ex-royals against popular belief that they might have deposited millions of dollars in foreign as well as Nepali banks.

Nepal Trust was formed on November 22, 2007. Its secretary, Shreedhar Gautam said that many assumed that the ex-royals could have set aside millions of dollars that could be tapped for investment in development works.

When only a small amount of cash was found, the Trust mulls over announcing a reward for any one who tips it off on other sources of property owned by the former royals.

The 45,045 pounds were first deposited in Kist Bank which offered the highest interest rate.

Owing to the “shaky” financial status of the bank, they ejected the money which will now be deposited with the bank that bids the highest interest rate.

The office found 144,472 unit shares of Nepal Bank Limited, 6,750 unit shares in NIDC, and 30,720 unit shares in Hotel Annapurna in the their names. The office has collected Rs 248 million in rent on the assets owed by the formal royals, read a statement issued by the office on Sunday.

The office has gathered 6,244 ropani land from across the country. “After we formed a taskforce to collect data on the land we could recover, we registered 26,626 ropanis in the past two months,” said Gautam.

Some 1,500 ropanis were found in Dhading, 172 ropanis in Nuwakot, 11,3,25 ropanis in Kathmandu and 27 ropanis in Sindhupalchok districts.

The plots in Dhading and Nuwakot (15,273 ropanis) have been transferred to the government from the Trust. It required the office some effort to trace an additional 15,360 shares of Hotel Annapurna along with Rs 2.3 million in dividends.

The Ministry of Foreign Affairs and Nepal Rastra Bank were requested to help dig up more cash and goods outside the country but without visible outcome.

Such property was initially believed to be invested in health and education sectors which did not materialise due to the insufficiency of the funds, the Trust stated. It is said to be working on a guideline to utilise the property.

The Trust has got seven bungalows in several cities that belonged to the ex-royals. Ratna Mandir and Hima Griha in Pokhara, three in Kathmandu—one in Tahachal, one in Chhauni that the daughter of former king Gyanendra Shah is occupying and another in Lazimpat—one in Bharatpur and another in Hetuda now belong to the Trust.

Five years after the popular king and his heirs were assassinated in the Royal Palace, the institution of monarchy was abolished during the reign of Gyanendra Shah. The government, while setting up the Trust, decided to nationalise all the property owned by Birendra’s family members.

Published: 16-06-2014 08:43

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment