Cairo – Mubasher: Qalaa Holdings said on Monday that the company’s Chairman Ahmed Heikal was informed that his name appears on the travel ban list.
In a disclosure to the Egyptian Exchange (EGX), Qalaa said that this happened as the chairman was embarking on a business trip last night to attend the board meeting of a subsidiary company in Sudan.
Furthermore, the company’s legal department investigated the matter today and found that it was a result of an absentee first-degree court ruling related to a commercial dispute pertaining to a $4 million check.
The company also said that the ruling is currently being contested.
