STO goes to High Court over 19.3 million issue

State Trading Organization (STO) has taken Meridium Service Private Limited – owned by Vilifushi MP Riyaz Rasheed – after losing the lawsuit lodged with Civil Court.

The first appeal hearing was held in High Court at 11:15 am, this Thursday.

STO claims that Meridum owes the company 19.3 million in credit and fines calculated from March 31, 2010 – when Meridium took fuel on credit from STO – to up until December 1, 2010.

Civil Court had ruled that evidence presented to court did not sufficiently prove that Meridium had taken MVR 19.3 million worth of fuel on credit from STO.

STO had claimed that they had discovered documents proving Meridium’s guilt missing from its office.

Civil Court had said that STO had reported that robbery to police in October 2011, while the complaint against Meridium lodged with the court prior to that. STO had retracted the lawsuit and refiled it after that.