News
Suspension of Bimputh Finance and Rs 69 mn loss for HDFC: Ex-COPE Chief admits lapses
By Shamindra Ferdinando
Former Chairman of Committee on Public Enterprises (COPE) Prof. Charitha Herath yesterday (13) said that undue delay on the part of a particular parliamentary watchdog committee to call certain state enterprises should be inquired into against the backdrop of some hidden facts and perhaps political interference.
In the case of HDFC Bank, massive loans had been granted to some politicians though the Auditor General’s Department and COPE failed to ascertain the situation, the rebel SLPP lawmaker claimed. The MP found fault with what he called the COPE review committee.
Prof. Herath said so when The Island sought his explanation as to how COPE, during his leadership, conveniently failed to summon HDFC Bank under investigation for suffering Rs 69mn loss by granting a special interest rate to a fixed deposit of the CEB and releasing a loan amounting to Rs 350 mn to Bimputh Finance PLC (BPF) on July 18, 2018.
During COPE proceedings in respect of HDFC Bank late last month, it was revealed that it hadn’t been summoned before the watchdog committee for a period of nine years. According to Director Legislative Services, the bank last appeared before COPE on Nov 04, 2014 in the run-up to the presidential election won by Maithripala Sirisena.
JVP MP Sunil Handunnetti served as Chairman COPE during the Yahapalana administration. After Gotabaya Rajapaksa was elected President in Nov 2019, Prof. Herath succeeded Handunnetti. Following Gotabaya Rajapaksa’s ouster in July 2022, Parliament elected Prof. Ranjith Bandara as the new COPE Chief. Former MP Handunnetti didn’t answer his phone.
Responding to another query, Prof. Herath said there are 214 corporations and nearly 20 other institutions subjected to scrutiny by COPE though the parliamentary watchdog missed HDFC Bank. The MP claimed that there were no other problems in HDFC bank other than the issues at hand.
MP Herath said that now latest statistics were available and therefore COPE could go into HDFC Bank. “I believe special measures should be adopted to investigate hidden cases in some state enterprises. We should implement a special review process to identify cases which required special attention,” Prof. Herath said.
Stalled investigations have revealed that disciplinary action hadn’t been taken in respect of an employee of the HDFC bank in spite of him being found guilty of playing the role of a clandestine agent in the deal with CEB.
COPE, under the leadership of Prof. Ranjith Bandara, has recommended to the Finance Ministry to inquire into the issue at hand and take tangible action against the HDFC employee within a month, according to a statement issued by Janakantha Silva, Director Legislative Services / Director Communication (Acting).
Against the backdrop of COPE declaration that the HDFC Bank faced problem in recovering Rs. 350 mn loan given to BPF, the Central Bank has announced that BPF had been prohibited from operating with effect from Sept. 01, 2023. Prof. Herath, in his response to The Island query, referred to this particular case when he mentioned some politicians being granted massive loans.
Prof. Bandara is on record as having said that the BPF matter would be referred to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).
According to a Central Bank statement dated Oct 27, 2023, the troubled finance company had been stopped from operating in terms of Section 37 of the Finance Business Act No 42 of 2011. The Director, Resolution and Enforcement Department has assured depositors of BPF that all depositors would be compensated in line with the provisions of the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) Regulation No 02 of 2021.
News
Sun directly overhead Galle, Angulugaha, Imaduwa, Telijjawila, Yatiyana and Tangalle about 12.08 noon today (07)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is overhead today (07) are Galle, Angulugaha, Imaduwa, Telijjawila, Yatiyana and Tangalle about 12.08 noon.
By Norman Palihawadane
The CID recently found that former SLPP Deputy Minister Premalal Jayasekara, better known as ‘Choka Malli’, had left for Thailand when the Supreme Court imposed an overseas travel ban on him last Friday.
The CID discovered that Jayasekara had left Sri Lanka on August 31, while authorities were taking steps to enforce the travel restriction imposed by the Supreme Court. The Department has subsequently informed the Attorney General’s Department of the development.
The Supreme Court last Friday ordered Jayasekara, and two other men, to appear before court on October 21, and imposed a ban on their overseas travel.
The orders were made as the Supreme Court considered an appeal challenging the acquittal of the three men in connection with the 2015 murder of Shantha Dodangoda, also known as D.G. Sunil Perera.
The appeal was filed by Dodangoda’s wife against a decision of the Court of Appeal to acquit and release Jayasekara and the two other accused, who had previously been convicted and sentenced to death by the Ratnapura High Court.
Dodangoda was killed in a shooting in Kahawatta town, in the early hours of January 5, 2015, while a group of people were putting up decorations for an election rally in support of then common Opposition presidential candidate Maithripala Sirisena.
Two others, Karunadasa Weerasinghe and Mohamed Ilfan, were seriously injured in the shooting.
Following the incident, the Ratnapura High Court convicted Jayasekara, former Chairman of the Kahawatta Pradeshiya Sabha Wajira Darshana de Silva, and former Sabaragamuwa Provincial Council member Nilanta Jayakody, sentencing all three to death.
The Court of Appeal subsequently acquitted the three men and ordered their release.
The victim’s wife later challenged the acquittal before the Supreme Court.
The appeal was taken up before a Supreme Court bench, comprising Justice Preethi Padman Surasena and Justices Achala Wengappuli and Gihan Kulatunga.
During the proceedings, Deputy Solicitor General Janaka Bandara requested that the court impose overseas travel restrictions on Jayasekara and the other respondents.
The Supreme Court subsequently ordered all three to appear before the court on October 21 and imposed travel bans on them.
President’s Counsel Nalin Ladduwahetty, President’s Counsel U.R. de Silva and President’s Counsel Anuja Premaratne appeared for the respondents. President’s Counsel Saliya Peiris represented the aggrieved party.
Police sources said that the discovery that Jayasekara had already left for Thailand, on August 31, has raised concerns over the timing and enforcement of the travel ban.
Sources said that the CID had notified the Attorney General’s Department and was taking further action in relation to the development.
By Pradeep Prasanna Samarakoon
The number of deaths from dengue fever in Sri Lanka has risen to 73 this year, with 96,228 cases reported across the country so far, according to the Dengue Control Unit.
The latest figures indicate that dengue continues to pose a significant public health concern, with 737 new cases recorded during the first four days of September alone.
Dengue infections peaked in July, when 29,964 cases were reported, according to the latest data. June recorded the second-highest monthly total, with 21,533 cases, while 10,155 cases were reported in August.
Earlier in the year, 8,590 cases were recorded in May and 7,866 cases in January.The Western Province remains the worst-affected area, accounting for more than half of all dengue cases reported nationwide. A total of 50,851 cases have been recorded in the province, representing 52.84% of the country’s total.
The Southern Province has recorded 13,950 cases, followed by the Central Province with 8,818 cases and Sabaragamuwa Province with 7,925 cases.
Sun directly overhead Galle, Angulugaha, Imaduwa, Telijjawila, Yatiyana and Tangalle about 12.08 noon today (07)
Showers above 50 mm are likely at some places in the Uva and Eastern provinces.
Harshitha’s composed knock seals Sri Lanka’s semi-final berth
‘Choka Malli’ slips out of country before travel ban
Dengue death toll rises to 73
Ranil accuses govt. of undermining democracy
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
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