Commerce ministry reveals new corporate violations for executives

12/12/2023 Argaam
Logo ofThe Ministry of Commerce

Logo of The Ministry of Commerce

The Ministry of Commerce revealed a series of violations and crimes outlined in the new Companies Law and its executive regulations, potentially involving a company's chairman, board members, or manager.

 

The violations include not submitting financial statements on Qawaem (chairperson, manager), the delay in preparing financial statements beyond the deadline, falsifying or misleading financial data, failing to call the annual meeting within the prescribed time, blocking shareholder or partner voting rights, misusing funds or authority for personal benefit or favoritism, and misrepresenting the company's financial status.

 

The ministry emphasized compliance with regulations to avoid these violations.

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