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FINES OF 500 THOUSAND DRAMS IMPOSED ON SOUTH CAUCASUS RAILWAYS AND GEGHARD MEAT PRODUCT ENTERPRISE COMPANIES
Noyan Tapan
http://www.nt.am?shownews=1010447
Dec 10, 2008
YEREVAN, DECEMBER 10, NOYAN TAPAN. At the December 10 sitting, the RA
State Commission for Protection of Economic Competition made a decision
to impose a fine of 500 thousand drams (about 1,628.6 USD) on South
Caucasus Railways company. It was mentioned that the Commission had
initiated proceedings and the company had been required to present
some information.
The company presented information to the Commission. However,
that information did not include any data on the cost price of
transportation of a unit of cargo, the price of transportation of a
ton of cargo, the profit and profitability. In addition to imposing a
fine, the Commission decided during the sitting that the requirement
to present information remains in force.
By another decision of the Commission, a fine of 500 thousand drams
was imposed on Geghard Meat Product Enterprise for not presenting
the required information at the stated time and for presenting
untrustworthy data.
In July 2008, the Commission initiated administrative proceedings
against Geghard Meat Product Enterprise for raising the prices of
several foodstuffs. The company was required to submit the documents
necessary for the proceedings and other information to the Commission
within 10 days.
However, the enterprise did not present any reasons and substantiation
for the changes in each component of the price, as well as any
documents substantiating these changes within the indicated period. At
the request of the company, the period of proceedings was twice
extended for 10 days.
During this period the company provided some general explanations,
not presenting any substantiating documents, thus not providing the
necessary information. Besides, the data submitted by the company at
two stages contradicted each other: they contained different amounts
of the same expenditure and the profit received at the same period
of time, as well as changed data on raw materials used.
In the opinion of the Commission, the company presented incomplete
information, while the presented data were contradictory and did not
reflect the amounts of expenses representing an element of the cost
price, therefore, the company presented untrustworthy information to
the Commission.
Noyan Tapan
http://www.nt.am?shownews=1010447
Dec 10, 2008
YEREVAN, DECEMBER 10, NOYAN TAPAN. At the December 10 sitting, the RA
State Commission for Protection of Economic Competition made a decision
to impose a fine of 500 thousand drams (about 1,628.6 USD) on South
Caucasus Railways company. It was mentioned that the Commission had
initiated proceedings and the company had been required to present
some information.
The company presented information to the Commission. However,
that information did not include any data on the cost price of
transportation of a unit of cargo, the price of transportation of a
ton of cargo, the profit and profitability. In addition to imposing a
fine, the Commission decided during the sitting that the requirement
to present information remains in force.
By another decision of the Commission, a fine of 500 thousand drams
was imposed on Geghard Meat Product Enterprise for not presenting
the required information at the stated time and for presenting
untrustworthy data.
In July 2008, the Commission initiated administrative proceedings
against Geghard Meat Product Enterprise for raising the prices of
several foodstuffs. The company was required to submit the documents
necessary for the proceedings and other information to the Commission
within 10 days.
However, the enterprise did not present any reasons and substantiation
for the changes in each component of the price, as well as any
documents substantiating these changes within the indicated period. At
the request of the company, the period of proceedings was twice
extended for 10 days.
During this period the company provided some general explanations,
not presenting any substantiating documents, thus not providing the
necessary information. Besides, the data submitted by the company at
two stages contradicted each other: they contained different amounts
of the same expenditure and the profit received at the same period
of time, as well as changed data on raw materials used.
In the opinion of the Commission, the company presented incomplete
information, while the presented data were contradictory and did not
reflect the amounts of expenses representing an element of the cost
price, therefore, the company presented untrustworthy information to
the Commission.