Supreme Court of the Maldives have upheld a ruling by the lower courts against Athama Investment, ordering to pay 699 million Rufiyaa to three different banks.
The Civil Court of the Maldives ordered Athama Investment to repay 699 million Rufiyaa to State Bank of India (Male’ Branch), State Bank of India (Mauritius Branch) and Commercial Bank of Ceylon.
However Athama appealed the case at the High Court in 2014. The High Court also ruled in the favor of the banks. Athama Investment appealed the case at the Supreme Court after losing it at the High Court.
The Supreme Court also upheld the ruling of the lower courts.
