Court orders halt to Haveeru operations until ownership issue resolved

Civil Court has ordered Haveeru News Agency to halt operations temporary without Farooq Hassan and Ibrahim Rasheed Moosa.

High Court ruled last September that Haveeru News Agency wasn’t just the company’s chairman Dr. Mohamed Zahir Hussain’s. And that Farooq Hassan from G. Kokkiri and Ibrahim Rasheed Moosa from H. Meerubahuru also had a stake in the company.

Court had ordered Haveeru to pay Farooq and Ibrahim Rasheed one fourth of the profit made by the company to date, each.

Civil Court issued the order for a temporary halt to Haveeru operations on Thursday in response to a lawsuit filed by Farooq and Ibrahim Rasheed.

Court ordered a halt to all bank transactions from any of the company’s accounts, and to halt any operation by the company without the involvement of Farooq and Ibrahim Rasheed.

The order will stand until the issue regarding Haveeru’s ownership is resolved in court.

Civil Court said that they issued the order based on the damage to Farooq and Ibrahim Rasheed – who hold a combined share of 50 percent, while Zahir from H. Neel Villa holds only 25 percent. Adding that Farooq and Ibrahim Rasheed had the right to request for a temporary halt to Haveeru operations.

High Court had ruled earlier that an agreement had been made between four individuals to set up Haveeru News Agency. And that all four founding members had a stake in the company even now.

The fourth shareholder is Mohamed Naeem from H. Timeless.

The court had said that Farooq and Ibrahim Rasheed still had a stake in the company despite Haveeru News Agency and all subsidiary companies having been re-named.

Haveeru News Agency said that Haveeru Online would remain operational as the order did not affect it.