Muscat: The Ministry of Commerce, Industry and Investment Promotion has clarified about what is being published on several social media platforms about liquidating some companies affiliated to Mohammed Bin Saud Bahwan Group.
In a statement issued on Sunday, the Ministry said: “After communicating with the stakeholders of the Group, it has become clear that the companies in which the liquidation work was announced and registered with the Ministry of Commercial Registry Secretariat are firms that were established in 2019 and did not practice any commercial activity since its establishment to date.”
“This announcement came about the liquidation at the desire of the Group and based on Article 40 of the Commercial Companies Law related to the procedures for dissolution and liquidation,” the statement added.
The Ministry affirmed that it welcomes “any questions or inquiries related to the Commercial Companies Law.”
