Sat, 04 Dec 2021 Today's Paper

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

24 March 2018 06:40 pm - 1     - {{hitsCtrl.values.hits}}

A A A

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)

  Comments - 1

  • stardust Saturday, 24 March 2018 11:54 AM

    You will see all money lost.....Why do greedy people invest in such companies via DM Android App


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





A Sri Lankan giving dignified burials to unclaimed bodies for five decades

After their death, most people are memorialized at a service, surrounded by g

Focus on Laggala Gem mining big shots bigger than the law

The truth is now being uncovered regarding an illegal mining racket in state

How and why the TNA was formed twenty years ago

The Tamil National Alliance (TNA) is now twenty years of age. The premier pol

India lays emphasis on culture diplomacy with Sri Lanka

Indian Prime Minister Narendra Modi wanted to inaugurate the Kushinagar Inter