The Civil Court has directed Fenaka Corporation to settle MVR 27.1 million in outstanding dues to Apollo Holdings within three months. The payment is for goods supplied by Apollo Holdings since 2020.
Apollo Holdings filed a lawsuit seeking the unpaid amount, along with compensation and legal expenses due to the delayed payment. Fenaka failed to submit a defense within the deadline, and a subsequent request for an extension to review documents was denied. The court proceeded without considering Fenaka’s response.
While the court upheld Apollo’s claim for the unpaid amount, it ruled against awarding compensation or covering legal expenses, citing insufficient grounds for such claims.
Fenaka Corporation faces mounting financial difficulties, with reported debts of MVR 4 billion and multiple lawsuits. In some cases, courts have ordered funds to be withheld from Fenaka’s accounts to address these financial obligations.
