Civil Court has ruled yesterday that the Housing Development Corporation's cancellation of the agreement with SeaLife to build 3000 housing units in Hulhumale' is rightful.
Civil Court has ruled yesterday that the Housing Development Corporation's cancellation of the agreement with SeaLife to build 3000 housing units in Hulhumale' is rightful.
In a statement issued yesterday, HDC revealed that the Civil Court had ruled in favour of the cancellation of the agreement, and that HDC does not need to pay any compensation to the company in this case.
The agreement between HDC and SeaLife Global Inc Pvt Ltd was signed on March 13, 2014.
However, HDC voided the agreement on December 24, 2018 after SeaLife failed to conduct the work as agreed, and used a forged performance guarantee in the name of Credit Suisse to scam multiple people out of money.
SeaLife then submitted a case to the Hulhumale' Division of the Civil Court, appealing for a ruling that the cancellation of the agreement is unlawful, and for compensation for losses incurred.
HDC said in their statement that they would continue to take legal action against any parties that fail to comply with agreements entered into for projects in Hulhumale'.
HDC-HULHUMALE
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