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Dlala Holding: Disclose a Court Rule

Dlala Holding: Disclose a Court Rule

Dlala Brokerage and Investment Holding announces that we have been notified by our external law firm of a favorable ruling in favor of Dlala Brokerage Company (LLC), a subsidiary of Dlala Holding Company, in Cassation Appeal No. 618 of 2024 Administrative Disputes filed by the Qatar Financial Markets Authority against Dlala Brokerage Company and others. The ruling states: "The court upheld the appealed judgment and ordered the appellants to pay the costs. The court ruled on the merits of appeals Nos. 42, 41, and 26 of 2022, rejecting them and upholding the appealed decision. It also ordered each appellant to pay the costs of his appeal." We would like to clarify that the appealed decision upheld by the Court of Cassation is the Grievance Committee's decision issued in Grievance No. (9) of 2021 to amend the financial penalty imposed on Dalalah Brokerage Company to QAR 500,000 instead of the financial penalty of QAR 10 million issued pursuant to the Accounting Committee's decision in Violation No. (10) of 2020. It is worth noting that the Court of Cassation's ruling will not have any impact on the company's financial statements as the company has already made a provision for it in previous financial years.
Source: QSE