The Civil Court has reached the evidence process in the court case filed against Lily Enterprises Private Limited by MKT Private Limited.
MKT Private Limited filed a case against Lily Enterprises on February 14, 2021, after the company failed to pay outstanding amounts from currency exchange transactions between the two companies.
According to the case filed by MKT, Lily Enterprises purchased USD 1,100,000 from the company on three occasions in 2020. The first transaction for USD 500,000 occurred on March 3, 2020, and two transactions for USD 200,000 and USD 400,000 on March 17, 2020. The company is yet to receive the local currency equivalent of USD 650,000 outstanding from the total amount.
MKT Private Limited requested Lily Enterprises to settle the outstanding amount on multiple occasions to no avail. Therefore, the company is seeking USD 11,570,500, and MVR 15,000 in legal fees from Lily Enterprises through the Civil Court.