BML’s lawsuit against Addu Mayor Nizar dropped following loan repayment

The civil lawsuit filed against Addu City Mayor Ali Nizar over non-repayment of a loan withdrawn jointly with another individual from the Bank of Maldives (BML) has been dropped subsequent to the repayment of the loan.

The loan of MVR 1,248,000 (One million two hundred forty-eight thousand) was withdrawn after mortgaging a plot of land and a restaurant.

BML sued for citing the failure of the defendants to make the loan payments according to the stipulated timetable, in order to recover the outstanding amount, in addition to upholding the rights and powers guaranteed to the bank under the mortgage agreement.

Civil Court dropped the case on last Thursday citing the monies demanded by BML were paid by the defendants.