In October 2019, the Business Competition Supervisory Commission (KPPU) handed out sentences to companies that had allegedly violated the Law by delaying their notification of corporate action (acquisition). Among the companies sentenced is PT Citra Prima Sejati, a subsidiary of PT Bumi Resources Tbk (BUMI). The Company was declared guilty in three different cases. PT Citra Prima Sejati filed objections at the South Jakarta District Court. Towards the end of 2019, one of the objections was rejected, while another partially granted. The third objection was rejected in January 2020. The Company filed a cassation, but the Supreme Court ultimately ruled in favor of the KPPU. The Supreme Court handed over a copy of one of the decisions to the district court and the parties recently.
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