ANAN Brings the “Ashton Asoke” Case to Supreme Court, Saying No Impact on Stakeholders

Ananda Development Public Company Limited (ANAN) stated that with reference to the several newspapers regarding to the Central Administrative Court’s verdict on the Ashton Asoke project which operated by Ananda MF Asia Asoke Co., Ltd., a joint venture company, held 51% by ANAN. The company was not directly prosecuted and was not a judgmental offender whereas the company was affected and damaged by losing the lawsuits of the government agency.

In addition, the company has a different opinion from the Central Administrative Court’s verdict on important facts and legal matters. Therefore, the company will exercise its rights to appeal against such a judgment in accordance with the legal procedure to the Supreme Administrative Court. However, the Central Administrative Court’s verdict will not be finalised until the Supreme Administrative Court’s judgement.

 

ANAN added that the company has proceeded properly in accordance with the strict procedures of laws, regulations, and announcements of government agencies and will take full action in accordance with the laws for the benefits of the company and all stakeholders.