Elaa case filed in Supreme Court
Agreement nullified correctly, Lower Court verdict incorrect
Villa Group founder Qasim Ibrahim
The High Court verdict against Villa Group on the issue of the nullification of ease agreement made for Th. Elaa has been filed in Supreme Court for appeal.
The lower court in January decreed that the agreement made between Tourism Ministry and Villa Shipping and Trading, which was nullified claiming that the purpose of the agreement was violated. The lower court had also decreed the ruling sent by Tourism Ministry to the Group was invalid as well.
All the accounts of Villa Group had been frozen by Maldives Inland Revenue Authority (MIRA) on Wednesday, stating the Group had failed to pay fees and penalties in connection to Elaa. The letter stated the Group had to pay US$ 18.6 million, as principal and interest for the rent and penalties for the lease.
MIRA had instructed the company back in 2015 to pay US$ 100 million (MVR 1.5 billion) over delayed payments of five islands leased to the Group. Elaa is one island in the five islands.
At the time of the penalties and revoking Kaadehdhoo Airport, Qasim was allied with the opposition; he had shifted sides soon afterwards, after which the Government gave back some of the islands and Kaadehdhoo Airport.
s
