Judgment passed by the Court to settle lease rent and fines by Maamaduvvari Investment Pvt Ltd to the MIRA

The Judgment with respect to the case filed with the Civil Court against Maamaduvvari Investment Pvt Ltd has been passed in favour of the MIRA today.

The Judge in giving her verdict stated that the Defendant did not object to the amount claimed by the Claimant and the Defendant’s argument raised with reference to the Cabinet’s Decision made on 29 November 2011 to provide relief in the payment of dues by means of an instalment plan for a 3 (three) year period from February 2012 onwards, was declared void. She further stated that the Cabinet does not possess any legal authority to arrange any means of relief or waivers with regard to a debt payable to the State. The verdict was passed to settle the amount claimed in full, which amounts to MVR 5,606,954.87 as evidenced by the documents submitted by the Claimant, within 3 (three) months from 28 May 2012 forth.

Furthermore, the Summary of the Trial Conclusion given by the Civil Court addressed that the main objectives of the MIRA consists of administering the taxes payable to the State under Tax Administration Act (Law Number 3/2010) and affirmed that the MIRA may claim for the recovery of any outstanding tax, fines or any other moniesin the form of a debt payable to the State.

MIRA claimed against Maamaduvvari Investment Pvt Ltd, for the recovery of the total outstanding lease rent and accumulated fines as per the Agreement entered between the Defendant and the Ministry of Fisheries, Agriculture and Marine Resources for the lease of B. Maamaduvvari from 25 March 2009 until the termination of the Agreement dated 25 June 2011, as stated by the MIRA.

30 May 12