Ex-MP pays MVR 4m debt in recovery suit
In its letter to the court, MIB said that in view of the complaint filed against Nihan and Inan, the money sought by the bank has been collected.
Top Stories
By
Aman Haleem
Former MP from Villimale Constituency Ahmed Nihan Hussain Manik and his brother Inan Hussain Manik have settled in in full a debt of MVR 4 million after they were charged in the Civil Court for failing to pay for the financing facility taken from the Maldives Islamic Bank (MIB).
MIB allotted a MVR 4 million Diminishing Musharaka Property Financing facility to Nihan and his brother. MIB filed a recovery suit at the court saying that:
-
The facility's money, the 'monthly rental’ and charity money should be withdrawn simultaneously
-
If the amount is not paid in one go, the bank should be allowed to sell the collateral Platinum Residence apartment under the facility
After the case was filed in the court, the MIB had written to the court seeking withdrawal of the case after having received all dues under the facility. This was in October last year, less than a month-and-a-half after MIB had filed the complaint.
In its letter to the court, MIB said that in view of the complaint filed against Nihan and Inan, the money sought by the bank has been collected. The court, therefore, took their consent and held that there was no place to proceed with the case.
Nihan has been booked in connection with the MMPRC corruption scandal. He was accused of taking $150,000 in bribes from the then Tourism Minister Ahmed Adeeb. The state told the court that Nihan used the money to pay to buy a platinum apartment.
The trial in the case has slowed down due to lack of progress in the criminal court. The reason is that Nihan has challenged the court's decision not to accept some of the witnesses produced by him. In the first stage of the appeal, the High Court upheld the trial court's decision.
