Breaking News
3 hours 47 minutes ago
Court orders USD 3.9M in lease, fine for Madoogali Resort
Justice Building. (File Photo/Sun/Ihthisham Mohamed)

Court orders USD 3.9M in lease, fine for Madoogali Resort

    September 12, 2017 - 2 months 2 weeks ago
    , 0 comments

Civil Court has ordered the owner of A. A. Madoogali Resort to pay USD 3.9 million in pending lease payment and fines.

The court ruled last Monday that USD 1,015,999.38 in lease payment for Madoogali, starting from second quarter of 2015 to second quarter of 2017 was unpaid, in violation of the lease agreement signed on April 11, 1995.

It said the owner had also failed to pay USD 2.9 million in fines from first quarter of 2014 to September 10, 2017.

The owner has been ordered to pay the USD 3.9 million in unpaid lease and fines up until September 10, as well as accumulative fines up until the payment is settled, to Maldives Inland Revenue Authority within three months.


0 Comments

Comment Guidlines

Comment guidlines goes here.

Post A Comment