SBI sentenced to pay MVR 18 million to Sheesha as company wins lawsuit

Civil Court has sentenced State Bank of India (SBI) to give MVR 18 million to Sheesha, the largest dealer in motor cycles in the Maldives, after the bank refused to take responsibility for theft of 18 million Rufiyaa with two forged cheques.

The three brothers who own the company filed a joint suit late in November 2011 stating that money was withdrawn from two cheques bearing the forged signature of one of the brothers, once of MVR 8.5 million on 9 November and then of MVR 9.5 million on 20 November 2011.