Civil Court allows sale of former Defence Minister's property

Civil Court has issued an order allowing Bank of Maldives (BML) to sell the collaterals placed for a MVR 14 million loan obtained by former Defence Minister Tholhath Ibrahim Kaleyfaanu and Ahmed Hashim of M. Araaroot Villa, if they fail to make payment and subsequent fees for the overdue loan within a 7 month period.

The Civil Court order issued last Thursday (25th of July) stated that Tholhath and Hashim currently owes a sum of MVR 27.6 million for unpaid loan amounts and defaulting fees.

The court allowed a 7 month period for Tholhath and Hashim to repay the money through installments. The order also allowed BML to sell off the properties M. Venus and Ma. Araaroot Villa laid down as collateral, if they fail to repay the sum within the 7month period.