Azima ordered to pay 4.2m debt
The polls will be held on the 13th of this month for the mayoral election she is contesting in.
The Civil Court on Tuesday ordered the ruling Peoples’ National Congress (PNC)'s candidate for the vacant Male mayoral seat to pay a huge debt.
Civil Court Judge Zulaiha Sheeza on Tuesday ruled that Azima is not paying regularly for a loan she took out from the Islamic Bank (MIB) to buy a flat in Platinum Residence. The court on Tuesday ruled in the case filed by MIB:
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Azima has not paid MVR 4.2 million for the loan
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Therefore, Azima was ordered to pay the money monthly within the next six months
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The flat will remain as a mortgage to MIB until the payment is made
MIB filed the case in the Civil Court on February 5, 2023. The loan was taken out on December 28, while Azima was the Legal Affairs Minister in the then President Abdullah Yameen's government.
The loan was issued under the Diminishing Musharakah (DM), Promati Financing Facility, an Islamic finance facility of MIB.
According to the verdict:
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The total value of the loan is MVR 3.2 million
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The last notice was given to Azima on 5 June 2022 for non-payment
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As on 2 January 2024, the loan had an outstanding balance of MVR 4.03 million
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In addition, a penalty of MVR 125,499 will be imposed for non payment
Therefore, in Azima's presence, the Civil Court ruled that MVR 4.2 million was proved to be owed by Azima to MIB. According to the judgment, Azima must pay the court before July 2 next month, which makes MVR 700,000 per month
The court ruled that Azima had a proven debt. The polls will be held on the 13th of this month for the mayoral election she is contesting in. However, even though the sentence is heard, her candidacy will not be invalidated.
