Business And Markets
0

Court Invalidates Privatization of Giant Farming Company

Court Invalidates Privatization of Giant Farming Company Court Invalidates Privatization of Giant Farming Company

The Supreme Audit Court of Iran, the supervisory arm of the parliament, issued a ruling reversing a decision by the Iranian Privatization Organization two years ago to divest Moghan Agro Industrial & Animal Husbandry Company. 
The ruling, published by Mehr News Agency, discloses wrongdoings and abuse by members of an ad hoc IPO committee in charge of the divestment. 
The misprision, among other things, includes undervaluing the property value. Over the past few years, the IPO, under its previous management, came under mounting criticism over rampant corruption in handling divestment schemes. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com