Monday, the Ministry of Commerce and Industry has officially affirmed its non-involvement in the ongoing legal conflicts between the strategic partner, “Arabi Holding Group Company,” and the “Health Insurance Hospitals Company.”
Ali Al-Dahoum, Director of the Shareholding Companies Department within the Ministry, emphasized in a press release that the Ministry’s role revolves around overseeing the procedural correctness of summoning general assemblies and boards of directors, reports Al-Jarida daily.
Al-Dahoum elaborated that in line with this role, the Ministry has taken measures aimed at reinforcing the procedures and resolutions that might be undertaken by company owners, all in the interest of safeguarding public funds.
He clarified that the Ministry of Commerce does not have any direct stake in the legal disputes between the strategic partner, and its involvement is limited to the application of relevant laws pertaining to the supervision of general assembly and board of directors meetings for public shareholding companies.
Today, Monday, the Ministry of Commerce and Industry confirmed that it is not a party to the existing legal disputes between the strategic partner, “Arabi Holding Group Company,” and the “Health Insurance Hospitals Company.” Ali Al-Dahoum, Director of the Department of Shareholding Companies in Al-Tijara, said in a press statement that the role of Al-Tijara is to review the soundness of procedures for calling for general assemblies and boards of directors.
Al-Dahoum added that based on that, and to fortify the procedures and decisions that might be taken by the owners of the companies, the “Ministry’s” measures came to protect public money. He stated that the Ministry of Commerce is not a party to the legal disputes between the strategic partner, and its role in this matter is limited to applying the correct law with regard to monitoring the meetings of the general assemblies and the boards of directors of public shareholding companies.
