Civil Court Orders FENAKA to Pay MVR 28 Million in 11 Months

The Civil Court has ruled that FENAKA Corporation must pay MVR 28 million to Dimah Pvt Ltd in instalments over 11 months. The case arose after Dimah Pvt Ltd sought legal intervention to recover MVR 31 million owed for work completed.

While FENAKA had initially paid MVR 3 million, the remaining amount remained unsettled, prompting Dimah to file the case. FENAKA requested an out-of-court settlement but failed to propose a resolution within the allotted time. Consequently, Dimah appealed for a court ruling, to which FENAKA later agreed.

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FENAKA, a state-owned enterprise, is noted for having significant financial liabilities. According to an audit report, the company’s debt stood at MVR 4.3 billion at the end of the previous administration. The Civil Court has previously issued several rulings against FENAKA in similar cases involving outstanding payments.