Criminal Court on Tuesday imposed a travel ban on Villa Group owner Gasim Ibrahim over unpaid rent on an island leased for resort development.
High Court late last month had ruled against Villa Shipping and Trading Company over the government seizure of Thaa Atoll Elaa island.
The amended and restated agreement signed between the Tourism Ministry and Villa Shipping and Trading Company owned by opposition Jumhoory Party (JP) leader Gasim Ibrahim was terminated in February of 2016.
Villa had been asked to pay USD100 million in 30 days after the agreement was annulled which required the company to develop Elaa along with four other islands.
Villa Group's accounts had been frozen after the company failed to pay the government after the designated period.
The company had challenged the government's decision in the civil court, which had ruled that the agreement had been annulled unlawfully.
However the appellate court had overturned the lower court's ruling saying that Villa had failed to honour the agreement signed in December 2013 which justified the seizure.
The court imposed ban would prevent Gasim who is also the Jumhoory Party (JP) leader from leaving the country for a period of one month.
The business magnate, meanwhile is also facing allegations of bribery.
Police had questioned Gasim on two separate occasions over a recent speech he had given during a JP rally where he was alleged to have hinted at possible bribing of fellow lawmakers.
Gasim later told reporters that the police had summoned him in order to take a picture and sample audio of his voice, required for them to carry out a video analysis, noting that he had co-operated with the police and did nothing to obstruct the investigation.
Gasim is the latest top opposition figure to have faced a possible backlash after the failed bid to unseat the speaker on Monday.
Police had questioned the now government lawmaker Dhangethi MP Ilham Ahmed after JP lawmaker Abdulla Riyaz and later main opposition Maldivian Democratic Party (MDP) secretary general Anas Abdul Sattar.
