Announcement by BATIC Investment and Logistics Company Regarding Notification of an Execution Order Against Its Subsidiary
AI Summary
- BATIC subsidiary, Smart Cities Telecommunications and Information Technology Solutions Company, received an execution order for SAR 42,212,187.50 (inclusive of VAT) in favor of the Al-Qassim Region Municipality.
- The claim relates to a terminated municipal investment contract for smart parking facilities in Buraidah city, which was cancelled by the municipality in February 2025.
- Following the dismissal of a lawsuit to cancel the invoice and a subsequent failed appeal, the subsidiary has filed a petition for cassation with the Supreme Court.
