Administrative Court overturns fines against 2 Electrical Industries subsidiaries

09:50 AM (Mecca time) Argaam
Logo ofElectrical Industries Co.(EIC)

Logo of Electrical Industries Co. (EIC) 

Electrical Industries Co. (EIC) said that the Riyadh Administrative Court nullified the fifth and sixth clauses of the ruling by the Committee for Adjudication of Competition Law Violations, which had imposed fines on two of its subsidiaries.

 

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In a statement on Tadawul, the company noted that it received the ruling on Jan. 16 through its lawyer. The judgment is subject to appeal before the Administrative Court of Appeals.

 

Electrical Industries will announce any major developments in this regard, the statement added.

 

According to data compiled by Argaam, Electrical Industries announced in July 2024 that it received a resolution from the Committee for Resolution of Competition Law Violations, which includes imposing a penalty of SAR 26.1 million on two of its subsidiaries for potential violations of the Competition Law.

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