The Administration Board of Moldova's largest baked goods manufacturer Franzeluta on Wednesday, June 22, had recourse to the Chisinau Courts of Appeals, after a district court on Tuesday annulled the Board's decision to sack Eugeniu Baleca as Franzeluta director on June 20, Info-Prim Neo reports. The Ministry of Agriculture and Food Industry said in a press release that the reason cited by the Board for Baleca's dismissal was related to the findings of a recent inspection conducted by the Center for Combating Economic Crimes and Corruption (CCCEC). According to the CCCEC, in the period 2008-2010 Eugen Baleca signed a number of contracts for the purchase of flour at inflated prices. As a result, the company and its shareholders lost more than 24 million lei in incomes. Another violation found by the CCCEC concerns the distribution of the net profit earned last year. Although, according to the decision of the General Shareholders Assembly, the rate of the annual indemnities paid to the former Board members was fixed at 0.3%, Baleca took the liberty of raising it to 0.9%. This decision caused damages valued at almost 100,000 lei to the company, it was said in the press release. The Board condemned Eugen Baleca's actions as irresponsible and fired him. The state owns the majority stock (52.5%) in the company.