The Road Development Corporation (RDC) has said that over MVR 161.2 million from the company's funds were released without any documentation during the previous regime.

As part of the State-Owned Enterprises Committee (SOE committee) of Parliament seeking information on corruption committed by state-owned companies during the previous regime, senior RDC officials were summoned to the committee on Monday.

Replying to questions raised by the committee members on the alleged corruption committed by the company, RDC Managing Director Ali Zuhair said it was evident from the bank documents that the company had released MVR 66 million to various individuals in 2022.

He, however, said there was no information or documentation on any of them.

"RDC has released MVR 66 million without any documents. We are yet to find documentation for the funds released in 2022. Likewise, by November 2023, MVR 95 million was released without any documentation. The only evidence we have of this is the bank's reconciliation," Zuhair said.

Zuhair also said that he was aware that the Finance Ministry had deposited MVR 90 million to the company in November, but when the current management took charge of the company, it only had MVR 4 million.

Action is being taken against the employees who are accused of doing so, including changing the section of some employees and removing some employees, he said.

He added that the police and the ACC is looking into the corruption cases of the company and hence he could not comment on the detailed information at this stage, adding that the audits were being handed over to the audit office.

Zuhair said that with the completion of the audit and the police investigation, the details of those who had released funds from the company would be known, and the money would be recovered.