DUSHANBE, April 4, 2014, Asia-Plus – Dushanbe’s Economic Court on April 3 invalidated the decision by the State Committee for Investments and State-owned Property Management (GosKomInvest) on privatization of Open Joint-Stock Company (OJSC) Elektronika-M.
The enterprise was privatized in 1999 by Qurbon Isroilov. Before 1999, it was the center for computer engineering and informatics.
After privatization, it was reorganized into the enterprise for producing soft drinks, Tabarruk. Controversial Tajik tycoon Zayd Saidov reportedly assumed the 50 percent ownership interest and Iranian entrepreneurs owned the remaining 50 percent of shares in that enterprise.
“The court invalidated the decision on privatization of the enterprise on the basis of lawsuit filed by the Agency for State Financial Control and Combating Corruption, which considers that the enterprise was privatized illegally,” Ishoq Tabarov, the defense lawyer of Saidov’s family, told Asia-Plus in an interview.
We will recall that the Supreme Court sentenced the ex-Minister of Industry Zayd Saidov, who is the leader of Tajikistan”s unregistered New Tajikistan party, to 26 years in prison and confiscation of property on December 25, 2013.
The sentence followed his conviction on charges of financial fraud, polygamy, and sexual relations with a minor. The court also imposed an 80,000-smoni fine and stripped Zayd Saidov of all previous state honors and awards. Zayd Saidov is also barred from doing business for five years after release.
Saidov”s supporters say the case against him was politically motivated.
