News
Swarnamahal directors on bail re-arrested on different charges
AG refers to loss of Rs 6.4 bn as a result of criminal misappropriation, cheating and money laundering
By Shamindra Ferdinando
The police yesterday (8) re-arrested Directors of now defunct ETF Finance Ltd soon after Attorney General Dappula de Livera, PC, ordered the CID to take them into custody on charges of criminal misappropriation, cheating, money laundering and other offences.
The AG’s Department Spokesperson State Counsel Nishara Jayaratne said that the total amount referred to in the above mentioned cases was approximately Rs 6.48 bn.
Police spokesman DIG Ajith Rohana confirmed the arrests.
The AG issued instructions close on the heels of the four directors namely Nalaka Premal Edirisinghe, Jeewaka Edirisinghe, Anjali Deepa Edirisinghe and Asanka Edirisinghe being granted bail by the Fort Magistrate on Wednesday (6).
Responding to a query, State Counsel Jayaratne told The Island that the CID earlier produced the suspects before the Fort Magistrate in connection with the Swarnamahal Jewellers case. Both State Counsel Jayaratne and DIG Rohana said that they were re-arrested in connection with the ETI Finance case.
Nalaka Premal Edirisinghe is the Director and Managing Director of ETI Finance. Nalaka Premal Edirisinghe surrendered to the CID on Wednesday whereas the others were taken into custody on the previous day. In connection with the offenses relating to Swarnamahal Jewellers, the police spokesman on Wednesday estimated embezzlement at Rs 7.2 bn.
Nalaka Premal Edirisinghe is also the Executive Director of Swarnamahal Financial Services, PLC, a member of Sri Lanka Gem Traders Association and a director of 14 companies.
DIG Rohana said that on the basis of investigations conducted by the CID on the instructions of the Attorney General Dappula de Livera, PC, the suspects were allegedly responsible for cheating, criminal breach of trust and criminal misappropriation.
Depositors who lost money as a result of the embezzlement called a media briefing in Colombo where they demanded the government take tangible measures to compensate them. They vowed to step up protests until justice was done. They alleged those responsible for ensuring transparency and stability allowed some finance companies to manipulate the process at the expense of the hapless public.
News
Engineers draw red line as CEBEU warns of union action over appointed date
Engineers at the Ceylon Electricity Board have drawn a clear red line over the government’s plan to gazette the appointed date for restructuring the utility, warning that trade union action will follow if the move is pushed through without addressing their core demands, the Sunday Island learns.
The powerful Ceylon Electricity Board Engineers’ Union (CEBEU) says preparations are already under way for industrial action, most likely after the appointed date gazette is published, should the Minister proceed without resolving outstanding issues raised repeatedly by engineers.
“If the appointed date is gazetted without addressing our demands, we will have no option but to take trade union action,” a senior electrical engineer told The Island, stressing that the warning should be taken seriously.
CEBEU sources say the engineers’ demands are aimed at preventing a structural and financial crisis in the electricity sector, rather than blocking reform. They insist that unbundling the CEB without first putting in place firm safeguards would expose the sector to instability and consumers to higher costs.
The engineers’ key demands include: legally binding financial safeguards to ensure the proposed Electricity Generation Company is viable from inception; protection against the transfer of legacy liabilities, extraordinary costs, or inefficiencies to new entities or electricity consumers; enforceable accountability for management and policy decisions that inflate system costs; genuine, structured consultation with technical professionals before irreversible decisions are taken; and a halt to gazetting the appointed date until these safeguards are formally incorporated.
Engineers warn that rushing the appointed date would lock existing weaknesses into the new structure, making them harder—and more expensive—to fix later. “Once the appointed date is gazetted, there is no rewind button,” a senior engineer said. “If the foundation is flawed, the entire structure will suffer.”
Meanwhile, according to energy analyst, Dr. Vidhura Ralapanwe, electricity sector reforms must be grounded in technical and financial reality, not driven by administrative timelines.
He has cautioned that implementing structural changes without correcting underlying governance and cost issues risks destabilising the sector and undermining public confidence.
CEBEU officials reject claims that the union is resisting reform. They say engineers are being sidelined in decision-making while being held responsible for system performance. “We are accountable for keeping the system running, but our professional warnings are being ignored,” one engineer said. “That is not reform; it is reckless governance.”
With the Minister yet to gazette the appointed date, tensions within the power sector are rising sharply.
Engineers say the government now faces a stark choice: engage with professionals and fix the problems first—or brace for confrontation in a sector where disruption will have coutrywide consequences.
By Ifham Nizam ✍️
News
Navam Perahera and sacred relics exhibition at Gangaramaya
The annual Colombo Navam Maha Perahera, along with an exhibition of sacred relics brought from India, will be held at Gangaramaya Vihara in Hunupitiya, featuring a series of religious observances, according to Most Venerable Dr. Kirinde Assaji Thera.
Addressing a media briefing on Friday, the Venerable Thera said the Perahera will take place on January 31 and February 1, commencing at 7.30 p.m. and concluding before 10.00 p.m., after parading through the streets of Colombo.
He said specially decorated floats have been prepared to depict key historical events, enabling foreign visitors to better understand Sri Lanka’s cultural and religious heritage. The floats will portray significant moments such as the arrival of Arahat Mahinda, the bringing of the Sri Maha Bodhi, and the arrival of the Sacred Tooth Relic, and will be performed by leading local artistes.
The procession is expected to feature around 8,000 dancers and elephants, representing a wide range of traditional dance forms.
The exhibition of sacred relics from the Devnimodara Shrine in India will be held at Gangaramaya Vihara from February 4 to 11. The Venerable Thera urged devotees to visit the temple dressed in white and to refrain from bringing valuables or large items of luggage. He added that necessary facilities have been arranged to accommodate the large number of devotees expected.
Meanwhile, Minister of Buddhasasana, Religious and Cultural Affairs Dr. Hiniduma Sunil Senevi said a mobile application will be introduced to inform devotees of the approximate date and time allocated for venerating the Sarvagna Dhathu, in a bid to manage crowds more efficiently.
Senior DIG in charge of Colombo G. Nishantha de Zoysa said a special security plan has been implemented with the assistance of the tri-forces, in accordance with instructions from the Ministry of Public Security and the Inspector General of Police. He added that a comprehensive traffic management plan, including alternative routes, has been prepared, and that detailed police announcements will be issued shortly. The Senior DIG also advised the public not to carry large luggage, jewellery, mobile phones, or other valuables when visiting the exhibition.
News
CID sleuths still plodding on with their probe into controversial Grade 6 English module
The CID has so far recorded statements from 15 individuals in connection with the Grade 6 English module, police headquarters sources said yesterday.
The CID stated that several officials of the National Institute of Education (NIE), Maharagama, are among those from whom statements have been obtained.
On Thursday, the CID also recorded a statement from Venerable Ulapane Sumangala Thera.
Several parties, including the Secretary to the Ministry of Education, had previously lodged complaints with the CID regarding the inclusion of the name of an inappropriate website in the Grade 6 English module.
by Norman Palihawadane ✍️
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