Mahendran insisted on Rs.10bn bid instead of Rs.2.6bn: Dr. Aazin

3 March 2017 07:07 pm - 22     - {{hitsCtrl.values.hits}}

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Former Central Bank Governor Arjuna Mahendran had recommended that the Rs.2.6 billion bid made at the bond auction be ignored and the Rs.10 billion be accepted instead, Central Bank Statistics Department Additional Director Dr. M.Z.M. Aazin today told the Presidential Commission of Inquiry (PCoI) inquiring into the CB bond issue.

He testified that the documents relating to these recommendations had not been submitted to the Parliamentary Committee on Public Enterprises (COPE) when it inquired into this matter.

Dr. Aazin said the former governor who visited the auction once, had returned for the second time one and half hours later and asked about the details of the Bond sale and inspected the ‘Bid Sheet’.

He told the Commission that all Central Bank Directors including him expressed their objections to the instructions given by the then governor Mahendran but they kept mum after the Deputy Governor told them that Mr. Mahendran was not keen to change his stance.

Dr. Aazin’s evidence was led by Senior Deputy Solicitor General Priyantha Navana who assists the Special Commission comprising Supreme Court Judges K. T. Chithrasiri and Prasanna Jayawardane and former Deputy Auditor General V. Kandasamy. (Manopriya Gunasekara and Ranjan Katugampola)

  Comments - 22

  • Harry Saturday, 04 March 2017 05:17 PM

    Because PM protects him!

    Harry Saturday, 04 March 2017 05:19 PM

    Were you working at the Central Bank or with Mahendran

    Mano Saturday, 04 March 2017 07:07 PM

    No one has robbed here.......! Only the big news........Paparazi

    Raman Saturday, 04 March 2017 07:11 PM

    You are correct.......What is going on now is just wasting of time

    Hush Saturday, 04 March 2017 07:34 PM

    You are probably not reading my friend. And obviously you don't know how bidding works as well.. mahendran passed info to his son in law that govt now seek more money than they told the bidders without other bidders knowing that information. So while everyone was bidding for 2.6 mahendran son in law bid for 10 billion with high interest and since no one else knew CB wants such money he got that bid at almost 2% more than the going rate. That is the robbery it was competed fairly and in countries like USA these things has laws and mahendran would have been jailed for many years for this"inside trading" fraud.

    Cleanman Saturday, 04 March 2017 01:39 AM

    Clean Man alias Green Man is there to protect the Mahendrans .... no use of any commitee or investigations.

    ass reda Saturday, 04 March 2017 01:55 AM

    Comment? No Comments? Hmmmmm!

    Ram Saturday, 04 March 2017 02:12 AM

    Cat is out of the bag this time. New documents are surfacing

    gobbaya Saturday, 04 March 2017 03:42 AM

    wow.....yahapalanaya rocks....RW in emperors new clothes. via DM Android App

    Leonard Saturday, 04 March 2017 06:55 AM

    Oh! Mr. Mahendran if 1% of this is true you can thank your lucky stars that you attempt any thing like this in Singapore.By the way to put your mind at ease don't worry nothing will come of these commissions Your pal RW will see to that, and more over case in point just look around how well Rajapaksa's and their cronies doing add to the list last RB Governor living the life of supper rich without impunity. How the history will judge you a brilliant economist or self riches Looter remain to be seen. So far things not looking good. But never mind least you got the money in the bank for your troubles.

    Kadiya Saturday, 04 March 2017 07:13 AM

    This is getting curiouser and curiouser!

    DJ Saturday, 04 March 2017 08:31 AM

    The man is guilty as he'll. Why does justice take so long in mother Lanka?

    dulan Saturday, 04 March 2017 08:36 AM

    This is not news. The fact that Govt wanted over Rs.10 b was told clearly. He merely did what was asked?

    Be Fair Saturday, 04 March 2017 08:47 AM

    At least "Yahapalanaya" is working, I haven't seen something like this in my lifetime, yet in SL. We should be patient to see the final outcome of it. I believe Mahendran will be prosecuted

    God Will Decide Saturday, 04 March 2017 10:23 AM

    When a small Man/women Robs she or he is kept in Remand or bailed out if he has the money. When the Big Educated Man Robs ( knowing the loop Holes ) he is out and he knows he will be never caught.Only his heart will know what he /she did ( and the almighty God ) It is time God Sent his Son Jesus Christ again ( second coming ) and takes control of the world. It is so fearful to live in the world now. But God will decide soon.

    sara Saturday, 04 March 2017 11:48 AM

    President and the govt must take this issue more seriouslyand justice must be done to win the confidence of the people of this country.

    ceylon Sunday, 05 March 2017 02:48 PM

    high education never help the theives to stop doing crimes.they use the education to steal more. via DM Android App

    Sincere Saturday, 04 March 2017 12:00 PM

    That is bidding in Yahapaalanaya style!

    Shelly. Saturday, 04 March 2017 01:34 PM

    He was bound to collect the sufficient money urgently needed by the GOVT. He did it and the GOVT was saved. This is what I understand. via DM Android App

    ananda Saturday, 04 March 2017 01:37 PM

    Was the governed instructed to bid for 10b instead of 2.5b by the government. (PM & FM). via DM Android App

    Don Saturday, 04 March 2017 02:08 PM

    Hearsay. You must have it in writing or should have refused the order. via DM Android App

    Nimal Saturday, 04 March 2017 05:04 PM

    He would never have considered trying something like this in Singapore. It goes to show that everyone knows they can get away with anything in Sri Lanka.


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