Apollo Holdings filed a civil suit against Fenaka, seeking payment for goods supplied from 2020 onwards. They also requested the court to determine whether they were entitled to compensation and legal expenses due to the prolonged non payment.
The Civil Court has ordered Fenaka Corporation to pay MVR 27.1 million in outstanding dues to Apollo Holdings within three months.
Apollo Holdings filed a civil suit against Fenaka, seeking payment for goods supplied from 2020 onwards. They also requested the court to determine whether they were entitled to compensation and legal expenses due to the prolonged non payment.
Fenaka failed to submit a response within the deadline, and despite requesting an extension to review the documentation after the deadline had passed, the court continued the trial without accepting Fenaka's defense.
The court ruled that Fenaka must pay the MVR 27.1 million owed for goods supplied by Apollo Holdings. However, the court found no basis for determining compensation and also ruled that there is no room to seek charges for legal fees.
Fenaka Corporation is currently facing significant financial challenges, with reported debts totaling MVR 4 billion and numerous lawsuits filed against the company. The court has also ordered withholding of a specified amount from Fenaka Corporation's accounts in relation to some of these cases.
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