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Machhapuchre Bank

Media attempt to discourage investors

By Our Reporter
Some land brokers and journalists are found initiating negative media propaganda with the intention of blackmailing and discouraging investors.
This media propaganda is related to the newly constructed Chhaya Center at the tourist hub Thamel, Kathmandu.
The 15-storey business complex has been constructed at the cost of above 5 billion rupees by above three dozen local investors including noted banker Prithivi Bahadur Pande’. The trade tower is already in formal operation since 25 December last year.
When the Chhaya Center has been constructed with a big investment, some ill-intentioned people have tried to drag the Center into controversy, said Center’s managing director Maheshwar Shrestha.
This is an attempt to discourage local investors, he said.
The Chhaya Center was constructed by completing all the government formalities, the managing director said.
The government, to attract foreign investment, is organizing investment conference on 29 and 30 March this year. When foreign investors see such disturbance while investing in the country, will they come to invest in Nepal, he questioned.
Historical facts speak that the ownership of the land occupied by the Chhaya Center has been transferred to different people in the past. Of late, the land was under the private ownership of Ambika Rana.
When a case was filed at the Kathmandu District Court in 2030 BS claiming the land belonging to the Bhagwan Guthi, the court had given the verdict to abandon the case.
In 2031 BS, the Appellate Court had approved the verdict of the Kathmandu District Court. Later, the Supreme Court in 2033 BS, had given the authority to Kayur Shumsher to use the land. A negotiation was held between Kayur Shumsher and members of the Guthi to abandon all previous claims.
According to the Land Registration Office, Kayur Shumsher has transferred some portion of the said land to Sudha Poudel and Bina Poudel in 2039 BS.
After demise of Kayur Shumsher, Ambika Rana had claimed the land belonging to Kayur Shumsher. At that time, the Guthi Management Office had issued a seven-day notice to the Singhasartha Bhagwan Guthi in Thamel stating that whether there was any claim from the Guthi. In response, the Guthi officials had replied that there was no objection from the Guthi while transferring the land under the ownership of Ambika Rana.
The record clearly speaks that in 2047 BS, the Guthi land was made Raiker [private ownership] by paying necessary charges in accordance to the Guthi Sansthan Law 2033 BS.
Later, in 2062 BS, on the case against the decision of converting the land into Raikar, a negotiation was endorsed by the Kathmandu District Court between Ambika Rana and Bhagwanbahal Guthi, under which, Bhawani Rana had paid 15 million rupees in cash and 4 aana land to the Bhagwanbahal Guthi.
In 2070 BS, again, when a case was filed with the demand of withholding the land, the Kathmandu District Court had given the verdict that the land could not be withhold.
Again, when the opponents went to the Supreme Court in 2073, the SC had also given the same verdict.
In 2071 BS, the Kathmandu District Court had given final verdict on the Chhayadevi Complex.
Later, the Appellate Court, Lalitpur had also given the final verdict in favour of the Chhayadevi Complex.
Managing Director Maheshwar Shrestha, presenting all the documents, said that why a section of people are involved in negative propaganda against the court verdicts!
Shrestha further explained that in 2069 BS, the Kathmandu Metropolis City had approved DPC map. At that time, a public hearing programme was also organized. At that programme, nobody objected on construction of the Complex and the Metropolis City had approved permanent map of the Complex.
When the Metropolis City gave the certificate of completion of the construction on 8 Kartik, 2075 BS, some ill-intentioned people have attempted to disturb the Chhaya Center Complex, said Shrestha.

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