News
High Court Trial-at-Bar orders release of several accused from 11 charges in CB bond auction case
By AJA Abeynayake
Colombo High Court Trial-at-Bar yesterday ordered the release of several accused, including former Finance Minister Ravi Karunanayke and former Central Bank former Governor Arjuna Mahendra, from 11 charges out of 22 in connection with the Central Bank bond auction held on 31 March, 2016.
Colombo High Court Trial-at-Bar held that public property charges against the accused could not be maintained. Indictments had been filed against Perpetual Treasuries Private Ltd (PTL), former Finance Minister Ravi Karunanayke, CBSL former Governor Arjuna Mahendran, Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa and Badugoda Hewa Indika Saman Kumara in connection with bond auction held on March 31, 2016.
The case against seventh accused Ranjan Hulugalle was dismissed on preliminary objections raised.
President’s Counsel Anil Silva, Counsel Asela Serasinghe, Hafeel Farisz, Sahan Kulatunga and Vishwaka Peiris appeared for the seventh accused.
The Attorney General’s stance regarding the future cause of action to be informed on 26 Jan. 2022.
The Attorney General had alleged that the PTL had been using the Central Bank’s important undisclosed information to alter the final outcome of the Treasury bond auction and it had a huge impact on the overall national economy as a result of the subtle; the systematic conduct of the offences related to the fraud and had caused injustice to other primary sellers in the bond market, and the PTL had acted cunningly and made a huge profit and conspired to cause a huge loss to the government.
The case was postponed until 26 Jan. 2022.
Prime Minister Dr. Harini Amarasuriya met with the Managing Director of the International Monetary Fund (IMF), Dr. Kristalina Georgieva, at Temple Tress on the 17th of February
Dr. Georgieva, commended the Government’s efforts in stabilizing the country’s economy and in managing recent economic and natural shocks. She noted that Cyclone Ditwah had caused severe impacts, especially on economically vulnerable communities, underscoring the importance of targeted support and resilience-building measures.
The Prime Minister expressed appreciation for the IMF’s continued support to Sri Lanka, particularly in the aftermath of Cyclone Ditwah. The PM further emphasized that real economic recovery and development must directly benefit the economically vulnerable groups and ensure inclusive growth, highlighting the need for Sri Lanka to attract quality and sustainable investments, particularly in the tourism sector.
The importance of reforming the education system to focus not only on knowledge acquisition but also on skills development and employability was also discussed
The meeting was attended by the Chief of Staff of the IMF Managing Director Andreas Bauer, Director, Asia and Pacific Department, Dr. Krishna Srinivasan Division Chief (Strategic Communications), Communications Department, Pierre Mejlak Resident Representative for Sri Lanka Dr. Martha Woldemichael, Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe, and Deputy Governor Dr. C. Amarasekara, Secretary to the Prime Minister Pradeep Saputhanthri and Additional Secretary to the Prime Minister Ms. Sagarika Bogahawatta.
[Prime Minister’s Media Division]
The Cabinet of Ministers approved the resolution forwarded by the Minister of Health and Mass Media to relocate the Deniyaya Base Hospital after constructing a new hospital with a capacity of 300 beds at an estimated cost of Rupees 6,000 million.
The Southern Provincial Department of Health has acquired a plot of land in Handford estate which is approximately 03 kilometres away from the town for this purpose.
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