GK case: SC reserves ruling

Depositors of the Golden Key Credit Card Company yesterday staged a protest outside the Hulftsdorp Courts Complex urging that justice be served to them. They complained that the Golden Key administration was enjoying privileges while the depositors were suffering.    
Pic by Kithsiri De Mel

By S.S.Selvanayagam
The Supreme Court yesterday reserved its order on the position of the 14 orders made by the Court from time to time in the Golden Key litigation.
The Bench comprising Justices K. Sripavan, Rohini Marasinghe and Sisira J. De Abrew indicated that the action plan for the repayment of the Golden Key depositors would be continued by the Monetary Board of the Central Bank.

"It indicated that if the Monetary Board had any issue on the ownership of the property in dispute, it could refer it to the District Court"

It indicated that if the Monetary Board had any issue on the ownership of the property in dispute, it could refer it to the District Court and obtain an order.
Justice Sripavan who headed the Bench said they wanted to operate within the power in the law enacted by the legislature and that they wanted to refer the case to the District Court.The new Bench said the progress in the repayment scheme to the depositors of the Golden Key Credit  Card Company had started and that the action plan would continue and that they could not interfere with the mode of payment.

"The new Bench said the progress in the repayment scheme to the depositors of had started and that the action plan would continue and that they could not interfere with the mode of payment."

The Court also indicated that the further seizure and sale should be done by the Monetary Board with the order of the District Court.
Chief Justice Mohan Peiris on July 28 stepped down from hearing the Petitions on the Golden Key Credit Card Company Ltd.

The Chief Justice informed that due to the scurrilous letter defaming him, he could not hear the matter in the greater interest of the judiciary.