Fenaka loses MVR 7.2mn lawsuit to Kaizaan

2 weeks ago

The Civil Court has ordered Fenaka Corporation to pay MVR 7.2 million to Kaizaan Investment, the company linked to the alleged corruption case against the state utility company’s former managing director, Ahmed Saeed. Kaizaan, a sole proprietorship registered to Ismail Zahid, is the company that built an ice plant in L. Maamendhoo, which it sold to Fenaka in 2023 for MVR