Sheesha brothers file case to retrieve stolen funds from State Bank of India
01 Apr 2014, 5:21 PM
Ahmed Nazeer
The Sheesha brothers have have filed a case with the Civil Court to implement the court’s January 16 ruling which had ordered the State Bank of India (SBI) to pay them MVR13.5 million plus interest within one month.
During a press conference held yesterday the brothers and their lawyer Abdul Nasir Ibrahim revealed that SBI had not paid the money to the company according to a Civil Court ruling, and that the court had now accepted the case.
On January 16, the Civil Court had ruled that SBI had to pay the brothers’ motorcycle importing company MVR13.5 million outstanding from the total MVR18 million that had been discovered missing from its account in November 2011 after a series of unauthorised transfers.
Nasir said yesterday that he had met with SBI before filing the lawsuit and that the bank had told him that it would transfer the money only if the Civil Court deemed that the previous court ruling should be implemented.
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