Muscat: The Ministry of Commerce, Industry and Investment Promotion (MOCIIP) has clarified on social media reports on the liquidation of a number of companies affiliated with the Mohammed Saud Bahwan Group.
MOCIIP said after communicating with the group's stakeholders, it became clear that the companies - in which the liquidation was announced and those registered with the Commercial Registry Secretariat - are the ones that were established in 2019 and did not practice commercial activity since its establishment to date.
The ministry said 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 of dissolution and liquidation.
The ministry said that it welcomes any questions or inquiries related to the Commercial Companies Law.
Oman Observer is now on the WhatsApp channel. Click here
