MIRA sues Villa Hotels for USD 18.6 million

Maldives Inland Revenue Authority (MIRA) has filed a lawsuit against Villa Hotels and Resorts for USD 18.6 million.

MIRA alleges Villa Hotels and Resorts owes the State the money in unpaid lease and fines for K. Bolidhuffaru and K. Vaavedhdhi Lagoon – being developed as tourist resorts.

Bolidhuffaru and Vaavedhdhi Lagoon were re-possessed by the State on December 12, 2013.

Civil Court had ruled the repossession was a violation of the Amended and Re-stated Lease Agreement with Villa Hotels and Resorts – a ruling overturned by High Court.

Villa Hotels and Resorts is a subsidiary of Villa Group - owned by Jumhoory Party (JP) leader Qasim Ibrahim.