Court Dismissed BSGV Claim against FAS Resolution
OREANDA-NEWS. April 02, 2008. The Moscow Arbitration Court recognized validity of the resolutions of the Moscow Office of the Federal Antimonopoly Service (OFAS Russia) on imposing fines for the total amount of 700 000 Rubles upon the "Banque Societe Generale Vostok" Commercial Share-Holding Bank CJSC and dismissed the bank claim to repeal the above resolutions, reported the press-centre of FAS Russia.
Moscow OFAS Russia established that the bank and "Kuntsevo. Avto Trading", Ltd., "Block Ampel Avto" Ltd. and "Kuntsevo Limited" Technical Centre" Ltd. entered into agreements on offering to the bank the services on attracting physical persons with the aim to conclude credit agreement between the bank and physical persons for obtaining a credit to purchase a vehicle in "Kuntsevo. Avto Trading", Ltd., "Block Ampel Avto" Ltd. and "Kuntsevo Limited" Technical Centre" Ltd.
Also, the bank entered into co-operation agreements with "Avto Kvartal" Ltd. and "Avto Trade" Ltd. as part of the Auto Loan programme. The agreements were aimed at organizing sale of motor vehicles to the clients of Avto Kvartal" Ltd. and "Avto Trade" Ltd. who would partially pay for the vehicle with bank credit.
The "Banque Societe Generale Vostok" Commercial Share-Holding Bank CJSC did not inform the antimonopoly office on entering into the above agreements, which directly violates Parts 9 and 12 Article 35 the Federal Law "On Protection of Competition", liable under Article 19.8 the Code of Administrative Violations of the Russian Federation.
По факту нарушений Moscow OFAS Russia imposed five fines upon the bank - 150 000, 100 000, 150 000, 150 000 and 150 000 Rubles accordingly. Total amount of fines - 700 000 Rubles.
The bank appealed against the penalty resolutions passed by the antimonopoly office. On 17, 18 and 19 March 2008, the Moscow Arbitration Court dismissed the bank claims and recognized validity of the resolutions of the Moscow OFAS Russia on imposing administrative penalties in five cases.
Under Parts 9 and 12 Article 35 the Federal Law "On Protection of Competition", financial organizations must notify the federal antimonopoly authority about all agreement concluded in any form with any organizations within 15 days after the agreement was signed, except the agreements specified in Clauses 1-3 Part 9 Article 35 the Federal Law.
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