News
Japanese investors’ action against Asia Capital: Court says notices cannot be issued on those not under arrest
Fort Magistrate Thanuja Lakmali Jayasinghe has declined to issue notice on Asia Capital PLC, its Chairman Yudhishtran Kanagasabai, Managing Director Raju Radha Directors Stefan Abeysinghe, Shekhar Balasubramaniam, V. Siva Jr., A. D. Ross, Dhammika Swarnasinghe and Stevenson Charles as well as two former employees Reyhan Morris and Sandun Thushara Hettige for cheating and criminal breach of trust, punishable under Sections 403 and 398 of the Penal Code.
The court issued the directive recently in respect of a private plant filed by CC Trust Pvt. Ltd., a Japanese owned company based in Singapore.
The court held that notice couldn’t be issued on the above-mentioned persons as they were not arrested and the court was also not satisfied about the availability of sufficient grounds to do.
The Magistrate also pointed out that the private complaint hadn’t mentioned any witnesses to prove the accusations in addition to being unclear regarding the availability of evidence pertaining to criminal breach of trust.
According to the private plaint, the Chairman, Managing Director and Directors of Asia Capital PLC and two former employees made false representations to the complainants to invest a sum of six million USD on the promise and assurance that Asia Capital PLC would initially invest three million USD and a sum of five million USD thereafter in a Hotel Project in Galle. The foreign investors invested six million USD on being satisfied and believing the representations made by Asia Capital PLC, as it was a company listed on the Colombo Stock Exchange and had constructed a number of star class hotels in Sri Lanka.
CC Trust Pte Ltd., alleged that suspects had deceived the directors of the Japanese company by not completing the project by 30 December 2018 as agreed and did not transfer any Shares of the Galle Beach Hotel Private Limited as assured. Instead, the first to 11th suspects, named in the private plaint, said that they would complete the construction of the hotel and until then would keep the monies invested by the first Complainant Company in a non-interest-bearing Account and once the hotel was completed the said money would be converted to equity in an entity known as Galle Beach CC Trust Private Limited.
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Indonesian Naval Ship ‘KRI SULTAN ISKANDAR MUDA – 367’ arrives in Colombo
The Indonesian Naval Ship, ‘KRI SULTAN ISKANDAR MUDA – 367’, arrived at the port of Colombo today (22 Jan 26) on a scheduled port call for logistics replenishment and a goodwill mission.
In keeping with time-honored naval tradition the ship was accorded a ceremonial welcome upon arrival.
The 90.71m – long Sigma Corvette FS is commanded by Commander Annugerah Anurullah.
During the stay in Colombo, the crew members of the ship are expected to visit some tourist attractions in the city limits.
Further, this visit provides an avenue to enhance professional interaction and courtesy engagements among two navies.
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Royal Navy of Oman Ship ‘AL SEEB’ calls at Port of Colombo
The Royal Navy of Oman Ship ‘AL SEEB’ arrived at the Port of Colombo on a logistics replenishment visit today (22 Jan 26).
The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.
The 75m – long ship is commanded by Lieutenant Commander Hamad Bin Mohammed Aldarmaki. The port call will facilitate professional interaction and goodwill exchanges between the two navies.
During her stay in Colombo, crew members of the ship are expected to visit some tourist attractions in the city of Colombo.
News
Mechanism to be established involving university academics and experts for Education Reforms – President
President Anura Kumara Dissanayake stated that the Government is taking steps to establish a comprehensive mechanism, supported by an appropriate legal framework, to bring together university academics, experts and all relevant parties in order to resolve issues arising during the implementation of education reforms.
The President made these remarks during a discussion with the Federation of University Teachers’ Associations (FUTA) held on Wednesday (21) morning at the Presidential Secretariat.
During the discussion, FUTA members emphasized the challenges encountered while trying to implement educational reforms through a framework established by the National Institute of Education, in line with the current laws and regulations.
They further emphasized that while their association acknowledges the need for new education reforms, the urgency of such reforms is greater for students in rural schools than for those in urban schools.
The Federation of University Teachers’ Associations further stated that they appreciate the decision taken by the Government, under the leadership of the President, to address the issues arising from education reforms and affirmed their readiness to contribute to this process.
As a continuation of the previous discussion, proposals addressing the challenges faced by academics within the university system, along with possible solutions, were presented to the President. In response, the President emphasized that the Government would take all possible measures to safeguard the university system and strengthen education.
The discussion also covered proposed amendments to the Universities Act.
President Anura Kumara Dissanayake noted that, in the aftermath of the recent disaster, the Government has been effectively implementing a nationwide rebuilding programme, addressing economic stability, development and all critical sectors. The President also called upon university academics to actively support these reconstruction efforts.
The meeting was attended by Minister of Ports and Civil Aviation, Anura Karunathilaka, as well as representatives of the Federation of University Teachers’ Associations, including its President, Prof. P. R. Weerathunga, Vice President M. A. M. Sameem and Secretary Charudaththe Ilangasinghe.
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