Gasim’s Villa Group scores Supreme Court win
The ruling could lead to the unfreezing of Villa’s assets and accounts and is some good news for the group, which has experienced several setbacks in recent years.
19 Apr 2018, 9:00 AM
The Supreme Court on Wednesday ruled in favour of Jumhooree Party leader Gasim Ibrahim’s Villa Group, saying the government had unlawfully revoked agreements for three islands and two lagoons.
In 2015, the government annulled lease agreements for Thaa Elaa, Raa Maanenfushi, Gaaf Dhaal Gazeera, Kaafu Maadhiggarufalhu and Kaafu Bolidhuffarufalhu.
Villa Group firms went to the civil court, which ruled that the government’s seizure of the properties was illegal.
But Villa was dealt a blow in 2017, when the High Court overturned that decision and the tax authority sought to recover MVR 2.9 billion (USD$188 million) it said Villa owed as unpaid rent and fines for the properties.
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