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Business-Law

The Accounts Chamber revealed a violation of the conditions for the transfer of the state block of shares in Tutun CTC to private ownership.

The Accounts Chamber revealed a violation of the conditions for the transfer of the state block of shares in Tutun CTC to private ownership.

02.12.2019

Accounts Chamber auditors came to such conclusions after reviewing the audit report on the conformity of the process of selling state shares owned by Tutun-CTC. The audit was conducted on the basis of data collected by the Ministry of Economy and Infrastructure, the State Services Agency, Tutun CTC, the Customs Service, the State Tax Service, the National Bureau of Statistics, etc. Tutun CTC JSC was established in 1998, its authorized capital was 111.8 million lei divided by 5.5 million ordinary registered shares with a nominal value of 20 lei. Before privatization, the state owned 90.8% of the ...
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