The motion to suspend proceedings in the case against Electric Networks of Armenia (ENA), a company belonging to the Tashir Group of companies, has been rejected.

The aforesaid decision was made at Monday’s meeting of the Public Services Regulatory Commission (PSRC) of Armenia.

The motion had been submitted by representatives of Tashir Capital, the owner of ENA.

This is already the third meeting being held by the PSRC, and the case concerns revoking the ENA’s electricity distribution license.

As reported earlier, the ENA supervisory committee on November 11 had warned the Armenian authorities against such a decision, and called it a forcible seizure of the company “for which the [Armenian] public will pay.”

The authorities, for their part, are considering two scenarios for the future of ENA: either nationalization or privatization, with government participation in the management of the company.

The Tashir Group belongs to Russian Armenian businessman and philanthropist Samvel Karapetyan, who is jailed in Armenia on charges of calling for a coup d’état in the country. Karapetyan and his supporters, however, deny these accusations, and describe the respective actions of the Armenian authorities as persecution.