Court Reverses Privatization of Major Agro-Industrial Company

A court in Tehran has ruled that the government officially re-claim ownership of Haft Tappeh Sugarcane Agro-Industry Company.
The government sold the giant sugarcane company in 2015 to a private owner but the controversial privatization was suspended by top supervisory bodies in May, the official website of the judiciary reported.
The privatization project was reportedly fraught with corruption and violated the provisions of Principle 44 of the Islamic Republic of Iran Constitution, which provides guidelines on downsizing and divestiture of government assets.