Fenaka has faced multiple similar rulings in the past and is currently working to settle its outstanding payments as per court orders.
Civil Court has ordered Fenaka Corporation, which is struggling with debt, to pay MVR 44 million to a private company within 14 months.
Clasiko Limited filed a lawsuit against Fenaka for failing to pay for goods supplied to the company. While Clasiko initially sought an additional MVR 6 million in damages, both parties later agreed to waive the damages and settle the MVR 44 million payment in monthly installments.
Following this agreement, the Civil Court ruled that Fenaka must adhere to the payment plan within the specified timeframe.
Fenaka has faced multiple similar rulings in the past and is currently working to settle its outstanding payments as per court orders.
Several companies have also filed lawsuits over unpaid dues, with Fenaka opting to resolve these disputes through monthly settlements.
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