Villa Group has stated the government claimed USD 188 million from corporation is 'imaginary' and the business enterprise has no outstanding debts to settle with the state.
The embattled Villa Group made its statement after the government had claimed that the group owes MVR 2.9 billion (USD 188 million) to the state, which the state explains as the reason for cancelling the alcohol and pork licenses of five of Villa Group's resort properties.
In a statement released on Thursday, the group stated the issue of allegedly unsettled amount is currently in a court dispute stage while the government had engineered the entire 'debt' claim in order to undermine the business enterprise.
Villa Group had also alleged the government's attempt to 'orchestrate' the whole unsettled debt scenario as gross misconduct after the state had cancelled several business arrangements associated with the said debt beforehand.
"We condemn the government's attempts to humiliate and intimidate a business organization for personal and political gain and we urge an immediate cease on these acts of discrimination against the corporation," read the Villa Group's statement.
Jumhooree Party leader Qasim Ibrahim's Villa Shipping and Trading Company, under which the sister act Villa Hotels and Resorts Group runs had faced severe backlash after a Customs and Police Service collaborated crackdown on five of the resort properties had left with the venues without alcoholic beverages and pork products - serviced to the tourists.
Villa Group has refused to acknowledge the alleged fine and interest accumulated amount of USD 14.9 million as debt on Thaa atoll Elaa - an island slip initially granted to the group for resort development which was later claimed by the state after cancelling the arrangement between government and Villa Group - and the disputed issue is currently at court stage without a verdict.
Qasim Ibrahim's Villa Group had also revealed in the company's state of a USD 16.9 million the incumbent state has to settle with the corporation, adding the outstanding amount had resulted in severe financial losses to the enterprise.
