Customer ordered to pay MVR 2 m to STO

The Civil Court has issued an order upon Heyria Investment to pay over MVR 2 million to the State Trading Organisation (STO).

This verdict came in relation to charges filed back in 2012 by Fuel Supply Maldives (FSM), a subsidiary of STO, seeking MVR 2,062,405.30 from Heyria Investment for fuel purchased on credit.

In the verdict issued today, the court ordered Seema Ali, owner of Heyria Investment, to pay MVR 343,734 per month to the court, thereby completing the full payment within six months.

Referring to the charges filed by FSM, the court said that despite Heyria Investment’s denial of these charges, documents were presented which proved that fuel was purchased from FSM on credit by Heyria Investment.

FSM also requested permission, in the event that Heyria Investment fails to pay the aforementioned sum, to sell the assets mortgaged by Heyria Investment. The court, however, ruled that there were no grounds to allow the sale of these assets.