Court permits prosecution to proceed bond case in absence of Arjuna Mahendran

Colombo High Court Trial-at-Bar today permitted the prosecution to proceed with the second Central Bank bond issuance case, in absentia of former Central Bank Governor Arjuna Mahendran and Ajahn Gardiye Punchihewa.

Trial-at-Bar bench comprising High Court Judges Damith Thotawatta, Manjula Tillekaratne and Mohammed Ishadeen made this order pursuant to the Attorney General's request to proceed with the case in the absence of two absconding accused.

Former Minister Ravi Karunanayake and seven others were today ordered to be were present before Colombo High Court Trial-at-Bar in connection with the second Central Bank bond issue took place in March 29, 2016.

However, former CB Governor Lakshman Arjuna Mahendran and Ajahn Gardiye Punchihewa were not present in Court.

The Attorney General alleged that the accused could be charged for conspiracy to commit criminal misappropriation in respect of treasury bonds to the face value of Rs.36.98 billion and 15 billion respectively in March 2016.

The Attorney General had filed indictments against ten accused including Ravi Karunanayake, former Central Bank Governor Lakshman Arjuna Mahendran, PTL beneficiaries owner Arjun Joseph Aloysius, Palisena Appuhamilage Don Kasun Oshada Palisena and, Badugoda Hewa Indika Saman Kumara.

Indictments had been filed against the accused under Section 56 of the Registered Securities and Exchange Ordinance for conspiracy, criminal misappropriation, cheating and market manipulation in respect of the Bond auctions on March 2016.