ETI, Swarna Mahal Finance; CB, Treasury acting as mediators: Kiriella

House Leader Lakshman Kiriella yesterday told Parliament the Government would ensure that ETI Finance and Swarna Mahal Financial Services refunded the funds deposited by more than 35,000 customers, despite the financial crisis within the two institutions.

He said the two companies could pay back their depositors from the sale proceeds of the company's assets.

The minister was responding to a question asked by JVP Leader Anura Kumara Dissanayake with regard to the plight of the depositors of these two failed institutions.

He said the Central Bank had taken several steps to protect the companies, such as limiting the withdrawal of deposits at maturity and extending the deposit period by six months, and added that the CB was closely monitoring the activities of the companies.

Responding to the question about the legal provisions involved in selling the EAP Group of Companies which owned radio stations and a TV station to an overseas Company, he said the government would act within the legal framework and in accordance with the Constitution.

He said the Central Bank and the Treasury were functioning as the mediator in the matter. (Ajith Siriwardana and Yohan Perera)