OREANDA-NEWS. September 01, 2014. Moscow Arbitration Court dismissed the claim of “CMK” [Stupino Metallurgical Company]” and supported a determination of the Federal Antimonopoly Service (FAS Russia).

In June 2014, FAS fined “CMK” OJSC 500,000 RUB for failure to submit information upon a FAS request.

“FAS as the authorized body for exercising the functions for control over foreign investments in the Russian Federation under the frame of verifying compliance with No. 57-FZ Federal Law in transactions with regard to a strategic company – “CMK” OJSC - requested the necessary information from the company”, explained the Head of FAS Department for Control over Foreign Investments, Armen Khanyan. “CMK” OJSC failed to submit information within the designated period, although there was information and possibility of such submission. The company was imposed a fine for committing an administrative violation”.

Failure to submit data (information) or submitting knowingly false data (information) is punishable by an administrative fine upon legal entities – from 500,000 RUB to 1 million RUB.

“CMK” OJSC disagreed with FAS determination; however, the claim was dismissed.