Batic Investments Unit Lands Court Mandate to Pay SAR42 Million to Municipality
Batic Investments and Logistics (SASE:4110) unit received a court order to pay 42.2 million Saudi riyals to Al-Qassim Region Municipality on Sunday, according to a same-day release. The execution order was issued to Smart Cities Telecommunications and Information Technology Solutions Co. after the municipality ended its contract for the leasing, development, operation, and maintenance of smart parking facilities in Buraidah, Saudi Arabia, in February 2025. The Tadawul-listed investment and logistics services company said its subsidiary lodged a petition for the annulment of the ruling before the Supreme Court, after a court of appeal upheld the administrative court's decision to dismiss its previous lawsuit.
Batic Investments and Logistics (SASE:4110) unit received a court order to pay 42.2 million Saudi riyals to Al-Qassim Region Municipality on Sunday, according to a same-day release.
The execution order was issued to Smart Cities Telecommunications and Information Technology Solutions Co. after the municipality ended its contract for the leasing, development, operation, and maintenance of smart parking facilities in Buraidah, Saudi Arabia, in February 2025.
The Tadawul-listed investment and logistics services company said its subsidiary lodged a petition for the annulment of the ruling before the Supreme Court, after a court of appeal upheld the administrative court's decision to dismiss its previous lawsuit.