The three-judge panel's decision triggers the automatic removal of their former colleagues from the bench.
The Maldives was thrashed by Indonesia in the UN Security Council vote.
The Prosecutor General's office declined to press charges against the three opposition lawmakers.
There are doubts a free and fair election can be held in the Maldives.
India's prime minister has yet to visit the Maldives, despite taking office in 2014.
The Maldives prisons authority spent millions unlawfully or accumulated it as a loss.
The Elections Commission has made public a list of eligible voters for September's presidential poll.
The Maldives was thrashed by Indonesia in the vote for a UN Security Council seat from the Asia-Pacific region.
The opposition appears divided in its quest to field a unity candidate.
Indonesia got more votes than the Maldives in the contested election for one Asia-Pacific seat by 144 to 46.
The head of the electoral body is a loyalist of President Abdulla Yameen.
Ambassadors are confident India will vote for the Maldives to get a seat on the UN Security Council, despite nosediving bilateral ties.
Maumoon Abdul Gayoom was arrested in February during a state of emergency in connection with an alleged coup plot.
Relations between the two countries have come under strain in recent years, mostly over China’s influence in the Maldives but also over a controversial 45-day state...
The government has given India until the end of June to remove the helicopter from the Maldives.