Ruling party MP Duminda Silva has been appointed as a Non-Executive/Independent Director of Touchwood Investments PLC, a company which is currently being investigated by the Securities and Exchange Commission.
Lanka Wijendra Kiwlegedara, the founder/Deputy Chairman/Chief Operations Director of Woolim Lanka (Pvt) Ltd and MD of Asian Investments and Mercantile Services (Pvt) Ltd has been appointed an Executive Director of the company.
SEC has filed a motion in the Commercial High Court Colombo of a hearing on the winding up application of Touchwood Investment PLC filed by a creditor of the company.
The SEC in its motion has inter-alia informed court on the steps it has taken in connection to Touchwood Investments and the motion will be supported on October 3, 2013, the same day the winding up petition will be taken up for hearing.
Touchwood in a stock exchange disclosure said it had already filed an affidavit of opposition to the said winding up application and would take all further steps to defend and oppose this action.
In the meantime the SEC announced that it had launched a fully-fledged investigation into the business affairs of Touchwood Investments to ascertain whether any securities law has been violated by the company and had also imposed a freeze on its non-current assets.