The Presidential Commission of Inquiry (PCoI) concluded its recording of Evidence today stating that it had forwarded a list of questions to the Prime Minister and if necessary would request him to attend a hearing to seek further clarifications.
However, the Commission informed the Attorney General’s team that in the event new evidence surfaces they would commence proceedings with a one-day notice.
Chairman of the Commission Justice K.T. Chitrasiri made a statement bring the proceedings of the Commission to a conclusion. The full statement follows:
The recording of evidence before this Commission of Inquiry commenced on 21st February 2017. All hearings have been held in public. There have been 120 days on which hearings were held. 63 witnesses have given evidence. The evidence of some witnesses spanned several days. Over 450 documents have been produced in evidence, with several of these documents consisting of a large number of pages.
In the event that, after today, any new material is identified and the Commissioners are of the view that, such new material must be placed before this Commission of Inquiry as formal evidence, a further hearing will be held.
Subject to that, the Commission of Inquiry has now completed the hearing of evidence, except for recording the evidence of the Prime Minister, if it is required.
In that regard, we consider it relevant to state that, the Commission of Inquiry has previously forwarded a list of questions, in the nature of interrogatories, to the Prime Minister and has requested the Prime Minister to provide his answers, by way of an affidavit. If required, a list of further questions will be forwarded to the Prime Minister. Upon receipt of the affidavit, the Commission of Inquiry will peruse its contents and, if necessary, request the Prime Minister to attend a hearing of the Commission of Inquiry to give evidence or request the Prime Minister to provide further clarification, as this Commission of Inquiry considers necessary.
If any further hearing is to be held, a notice to such effect will be displayed at the Office of the Commission of Inquiry before the day of any such hearing.
The Commissioners now have, before us, the task of carefully studying and analyzing all the oral and documentary evidence that has been presented and preparing our Report to be submitted to the President. This will be a complex, arduous and time consuming exercise. Therefore, we will be compelled to request His Excellency to extend the warrant issued to the Commission of Inquiry which, at present, is due to end on 27th October 2017.
In the meantime, counsel who have appeared before the Commission of Inquiry are given the opportunity to tender their written submissions, if any, on or before 25th October 2017. In the event the warrant issued to the Commission of Inquiry is extended before that date, any written submissions may be tendered within a further week from 25th October 2017.
The Commissioners wish to thank the team of officers of the Attorney General’s Department, who assisted the Commission of Inquiry. They have worked long hours and have demonstrated sustained dedication to their task of presenting evidence, which had to be gathered from a very large amount of documents and after consultations with many persons. The Commissioners deeply appreciate their efforts and thank these officers.
The Commissioners wish to thank learned counsel who appeared before the Commission of Inquiry on behalf of persons who wished to be represented under and in terms of section 16 of the Commissions of Inquiry Act. The Commissioners appreciate the cooperation given by these counsel to the Commission of Inquiry in completing the time consuming and often difficult task of conducting these proceedings.
The Commissioners wish to thank the officers of the Criminal Investigation Department who carried out investigations and recorded the statements of witnesses and other persons. They have made a significant and valuable contribution to the efforts of the Commission of Inquiry.
Finally, the Commissioners wish to place on record our gratitude to Mr. S. Udugamasuriya, Attorney-at-Law, who has functioned as the Secretary of this Commission of Inquiry and to all the members of the Staff of this Commission of Inquiry for their cooperation and hard work, which has enabled this Commission of Inquiry to function. (Shehan Chamika Silva)
PTL net inflows happened mainly through transactions with Govt. entities
Out of the total net inflow (Rs. 11 billion) of Perpetual Treasuries Ltd during 2015 -2016 in bond disposals, Rs. 8.5 billion came through from the transactions with Government institutions.
During today’s Proceedings, Deputy Solicitor General Milinda Gunatilleke led another witness, Suresh Sedara, who is an Assistant Director of CBSL, through a document prepared by the witness, which is relating to the calculation made by him regarding PTL’s net inflow during the time period of February 2015 to March 2016.
This computation was based on the documents provided by PTL itself to the Commission.
There were seven ISINs (International Securities Identification Number) that had been investigated relating to PTL’s disposal of bonds.
DSG Gunatilleke submitting relevant documents moved that out of the PTL’s total inflows from the counter parties in relation to these bonds, PTL gained net inflows largely through Government institutions. (Shehan Chamika Silva)