Within the framework of the authority to file a lawsuit to protect state (community) interests, the Prosecutor's Office examined the privatization process of "Araratcement" company, alienated by the Decision of the RA Government No. 1465-A of September 12, 2002. Based on the violations discovered in the privatization process, the Prosecutor's Office filed a lawsuit with the Administrative Court with a request to declare the above-mentioned decision of the RA Government null and void.

The claim was based on violations disclosed among others circumstances related to the privatization process.

In particular:

• By the Decision No. 690 of the RA Government of July 31, 2001, a tender commission was formed to privatize the state-owned shares of "Araratcement" company through a tender.
• A tender offer was submitted by the Swiss "Holcim LTD" and the English "SK.Ajikawo Group" organizations.
• The Swiss organization "Holcim LTD" was recognized as the winner of the tender held on September 26, 2001. However, on October 22, 2001, the Swiss organization "Holcim LTD" reported in a letter addressed to the Minister of State Property Management that the organization's Board of directors had rejected the investment program without giving any reasons.
• Since October 22, 2001, in violation of the 60-day period from the moment the tender was deemed to have failed, as well as in violation of the requirements of Article 18 of the Law "On Privatization of State Property", the Government of the Republic of Armenia has ignored the fact that the English company "SK.Ajikawo Group" was a previously known buyer and instead of alienating the said company through direct sale, it has privatized 317,003 shares of "Araratcement" Open Joint-Stock Company, each with a nominal value of AMD 10 thousand, through direct sale to Vahagn, the uncle of Karapet Guloyan, the husband of the daughter of Gagik Tsarukyan, the founder of the "Multi Group" Concern, and the company, which has a charter capital of only 18 thousand 952 euros, and is established in the Kingdom of Belgium, LLC "Roberto" managed by Vahagn Guloyan. By the same decision, the Government of the Republic of Armenia set the price of the shares at 200,000 USD, obliging the buyer to pay it within 3 banking days from the date of signing the privatization agreement.

It is worth mentioning that the Prosecutor General's Office also discovered a number of violations in the process of acquiring land plots owned by Ararat Cement Company. The Prosecutor, having discovered apparent elements of a crime within the framework of exercising his powers to protect state interests, filed a report on the crime with the Anti-Corruption Committee on May 27, 2026, as well as a lawsuit by state interests to the Anti-Corruption Court.

On May 5, 2026, the Prosecutor General's Office addressed a letter to the Government of the Republic of Armenia, proposing to discuss the violations made by the company and implementing proper administration in order to eliminate their consequences, including, for example, the advisability of appointing a temporary administrator in the company.