Administrative Court rejects lawsuit filed by TASHIR CAPITAL CJSC  against Armenian Government 

ArmInfo.The Administrative Court of the Republic of Armenia has rejected a  lawsuit filed by TASHIR CAPITAL CJSC against the Government of the  Republic of Armenia.

According to the press service of the Ministry of Territorial  Administration and Infrastructure, on July 1, 2026,  "TASHIR CAPITAL"  CJSC filed a lawsuit with the Administrative Court of the Republic of  Armenia, demanding that the legal relations regarding the  alienation—as an exceptional measure—of a 70% stake in "Electric  Networks of Armenia" (ENA) CJSC, as provided by the Law of the  Republic of Armenia "On Energy" and corresponding to Article 60 of  the Constitution of the Republic of Armenia, be declared  non-existent. "The court concluded that this claim is not subject to  judicial review, and therefore there are legal grounds for refusing  to accept the claim in accordance with Clause 1, Part 1, Article 80  of the Administrative Procedure Code of the Republic of Armenia," the   statement reads.

Under this article, the administrative court refuses to accept a  statement of claim if the asserted demand is not subject to review in  court. 

Recall, the "Electric Networks of Armenia" CJSC has been owned by  Samvel Karapetyan's "Tashir" group of companies since 2016. In 2025,  Prime Minister Nikol Pashinyan announced his intention to nationalize  ENA following Karapetyan's public expression of support for the  Armenian Apostolic Church (AAC) and his subsequent arrest. Later,  parliament adopted legislative amendments providing for the return of  "Electric Networks" to state control. Subsequently, the head of the  Public Services Regulatory Commission (PSRC) appointed Romanos  Petrosyan as an interim manager on July 18. Starting July 24,  Petrosyan began implementing personnel changes among the company's  high-ranking officials, despite a Stockholm arbitration decision  ruling against changes to the company's governing bodies and advising  the state to refrain from actions aimed at the expropriation of the  company. On August 9, Narek Karapetyan, a shareholder of "Electric  Networks of Armenia" and CEO of "Tashir Capital," filed a lawsuit in  the Administrative Court of Armenia against the PSRC and its  chairman, Mesrop Mesropyan, demanding that the PSRC's authority to  change the company's management be declared invalid.

By a decision of the PSRC dated November 17, 2025, Electric Networks  of Armenia CJSC was stripped of its electricity transmission license.  The decision listed violations the commission found in the company's  activities. On March 3, 2026, Romanos Petrosyan, interim manager of  ENA and a member of the board of the ruling Civil Contract party,  announced that the state was preparing to fully nationalize the  shares of Electric Networks of Armenia (ENA), recognizing it as a  priority public interest, and to pay compensation to the owner,  Tashir Capital. He clarified that February 21 was the deadline for  the government to make an offer, conduct negotiations, and, as a  result of the transaction, transfer 100% of the company's shares to  the state. However, the interim manager declined to disclose the  specific value of ENA or the price proposed by the government.

Meanwhile, Pashinyan had previously stated that the company's price  could be reduced under certain circumstances. The prime minister  explained that the company had long been used for narrow, personal  interests. Furthermore, according to available information, ENA was  burdened with loan obligations, which were then transferred to close  affiliates and relatives without accruing interest. "According to  preliminary estimates, all of this naturally lowers the company's  market value and will not create serious problems for the budget,"  the head of government emphasized. Meanwhile, David Ghazinyan, a  board  member of the "Strong Armenia" party  and former CEO of ESA,  stated that the real value of Electric Networks of Armenia (ENA) is  close to $1 billion, and the company's owners will not agree to sell  it at a reduced price.