The Civil Court yesterday ordered Fenaka Corporation to pay 7.2 million rufiyaa within 30 days to Kaizan Investment, a company registered under an individual’s name, in connection with a corruption case against Fenaka’s former Managing Director Ahmed Saeed. This case is related to alleged corrupt practices in Fenaka’s purchase of an ice plant built by Kaizan Investment in L. Maamendhoo. In this case, in addition to Saeed, Fenaka’s former Chief Accountant Mohamed Masood has been charged with misuse of official capacity.
Kaizan Investment sued for 7.2 million rufiyaa owed under the agreement to purchase the ice plant, 580,155 rufiyaa as damages, and 100,000 rufiyaa for legal expenses. Fenaka had agreed that they had not paid the 7.2 million rufiyaa. The court ruled that Fenaka should pay the 7.2 million rufiyaa they had admitted to within 30 days. However, the court determined that there was no way to grant the requested money for damages and legal expenses.
According to the criminal charges, while Fenaka had decided to build an ice plant in Maamendhoo, they purchased the ice plant from Kaizan Investment for 11.3 million rufiyaa without the Tender Committee’s approval and despite the business plan indicating it was not a financially beneficial project. Saeed had participated in a board meeting, signed the agreement for this purchased ice plant without disclosing Fenaka’s own work information, and facilitated the payment of 11.3 million rufiyaa.
