The company accused of embezzling to lose state support

The Government of Novosibirsk region refuses to support SUN Company which is suspected by Rusnano in the theft of received investments. This follows from the statement of the Commission that conducts the competition for the provision of state investment.

The regional government has provided state support for SUN since 2010. The resolution to subsidize interest rates on loans and granting tax benefits for the Group of companies SUN was signed on the 18th of October 2010.

The total amount of government subsidies on loans for JSC Innovative Company SUN, LLC SUN, LLC SAN-Engineering and Sobolek (all four are in the Group of Companies SUN) during 2010-2012 totals 73.5M RUR. Among other things, LLC SUN-Engineering and Sobolek were also receiving tax benefits in the amount of 30.79M RUR for three years.

The reasons why the government denies state support for the company has not been officially announced.

Recall that Rusnano and UralSib group, which owns 45% of JSC Innovative Company SUN, accused in early October the former CEO and one of the shareholders of the company Vladislav Mirchev and some other persons in the theft of more than 100M RUR, which were previously allocated for the development of innovation.