ITAHARI: Expressing strong objection to Global IME Bank’s highhandedness on one of its borrowers, Shubalaxmi Jewelers, the Itahari Chamber of Commerce and Industries (ICCI) has called for a shutdown in Itahari on Tuesday.
According to the ICCI, Global IME Bank sent its employees and security guards to Shubalaxmi Jewelers on Sunday evening. The chamber claimed that the bank staff tried to take the assets of Shubalaxmi Jewelers under their control. Global IME Bank has announced a notice to auction off collateral pledged by Shubhalaxmi Jewelers after the latter failed to service its loans.
Jivan Parajuli, the president of ICCI, issued a circular instructing businesses to cease operations on Monday, citing the bank’s highhandedness which has instilled fear in business owners.
In response to the ICCI’s call, numerous businesses in Itahari have remained closed on Monday.
Rajmani Shrestha, the owner of Shubalaxmi Jewelers, stated that he had been attempting to secure a loan from another bank to clear his debt with Global IME Bank. “However, without any warning, Global IME Bank’s staff arrived at my store and attempted to seize jewelry and cash under their control. This is an objectionable act,” he added.
Meanwhile, some businesspeople believe that the ICCI should resolve the issue through dialogue with the bank instead of calling shutdown. “We acknowledge the bank’s highhandedness, but shutting down businesses is not the solution to this problem,” said Gayatri Katwal, a local businesswoman. “I do not support the call for a shutdown.”
Discontent within the working committee
Members of the ICCI’s executive committee expressed dissatisfaction with the decision to close businesses. “I was not present when the decision was made. When there is a problem, it should be resolved through discussion,” said Umesh Dahal, an executive member of the ICCI. “Closing businesses is never a solution. In the past, Itahari continued its business activities as usual even during nationwide strikes.”
Dahal also said that the decision would adversely affect shopkeepers who are paying monthly rents as high as Rs 200,000. “At a time when businesses are already facing challenges, is it justifiable to enforce a shutdown?” he questioned.
Dhruv Adhikari, another executive member of the ICCI, however, stated that the chamber was compelled to make this unfortunate decision after the bank tried to take matters into its hands.
“We have closed business on Monday for one day to protest against the bank’s activities, which have caused mental distress to businesspeople. The bank should have followed proper procedures instead of taking matters into its own hands,” Adhikari said.
