Civil Court orders Fenaka to pay MVR 28 million in 11 months

Civil Court has ordered Fenaka Corporation to pay MVR 28 million to private company Dimah Pvt Ltd.

Dimah Pvt Ltd filed a case against Fenaka at the Civil Court seeking payment of MVR 31 million owed for work conducted. Of the total amount, Fenaka had only paid MVR 3 million.

Fenaka asked for an out of court settlement. However, they failed to propose a solution in the time allowed. Hence, Dimah appealed for a ruling in court.

Fenaka, too, then asked for the case to be resolved in court.

The Civil Court ruled that the remaining MVR 28 million be paid in instalments over 11 months.

Fenaka is the State Owned Enterprise with the highest amount of debt. The Civil Court has issued a number of other rulings against Fenaka previously as well in such cases.

As per the audit report, Fenaka's debt stood at MVR 4.3 billion at the end of the previous administration.