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Intend to challenge controversial deal with regional company in Sakhalin

Intend to challenge controversial deal with regional company in Sakhalin
Photo: pixabay.com
The Revision Commission of Sakhalinintransugol JSC discovered the sale of a 100% stake in a coal mining subsidiary. The buyer was an individual.

According to the press service of the Government of the Sakhalin Oblast, the deal to alienate a share in the authorized capital of Mangidai LLC took place in February this year. Meanwhile, the charter of the company provides for the approval of such transactions by the board of directors of the company Sakhalintransugol JSC, but in this case the director of the subsidiary made the decision individually. In addition, the transaction amount was determined without an independent valuation.

Along with this, the audit revealed that the shareholder also had other contentious issues in the financial and economic activities of the company. The work of the commission will continue for another two weeks.

Sakhalin Intransugol JSC was established in 2014 after the transformation of the State Unitary Enterprise. In Mangidai LLC, a 100% share in the authorized capital was contributed during the creation of the company. Now the deal to sell the stake will be challenged in the Arbitration Court of the Sakhalin Region. The directors who made this one-man decision were fired at their own request.
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