Bank of Maldives (BML) has withdrawn the civil lawsuit filed against Addu City Mayor Ali Nizar over the non-repayment of a loan withdrawn jointly with another individual after the repayment of the loan.

A total of MVR 1,248,000 was loaned by Nizar after mortgaging a plot of land and a restaurant.

In their lawsuit, BML cited the failure of the defendants to make the loan payments according to the stipulated timetable, in order to recover the outstanding amount, in addition to upholding the rights and powers guaranteed to the bank under the mortgage agreement.

However, the Civil Court noted last Thursday that the bank had requested to withdraw the lawsuit after the loan amount had been paid off.