Court Proves Sberbank, ROSNO’s Collusion
20 June 2012 (15:02)
The 17th Arbitration & Appeals Court supported the ruling pronounced by Russia’s Federal Antimonopoly Service in Perm Territory; the FAS’s division declared that the Russian Sberbank and ROSNO Insurance Company engaged in collusion.
The court also ruled that the antimonopoly agency’s order to the bank and to the insurer to transfer the illegitimate profits (293m RUR and 40m RUR, respectively) to the federal budget was lawful.
It is reported that in November 2011 Perm Territory division of Russia’s Federal Antimonopoly Service declared Sberbank and ROSNO had violated the law in that the bank insisted on its borrowers insuring their life and health with ROSNO when a loan agreement was signed.
The FAS then fined the colluders, making the bank pay 11.2m RUR and the insurer 1.44m RUR and ordered Sberbank to transfer 293m RUR worth of the illegitimate profits to the federal budget. ROSNO was to transfer 40m RUR, the FAS’s territorial division told Interfax.
The court also ruled that the antimonopoly agency’s order to the bank and to the insurer to transfer the illegitimate profits (293m RUR and 40m RUR, respectively) to the federal budget was lawful.
It is reported that in November 2011 Perm Territory division of Russia’s Federal Antimonopoly Service declared Sberbank and ROSNO had violated the law in that the bank insisted on its borrowers insuring their life and health with ROSNO when a loan agreement was signed.
The FAS then fined the colluders, making the bank pay 11.2m RUR and the insurer 1.44m RUR and ordered Sberbank to transfer 293m RUR worth of the illegitimate profits to the federal budget. ROSNO was to transfer 40m RUR, the FAS’s territorial division told Interfax.
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