Third CB bond issuance: Court releases Mahendran, Ravi and others from eleven charges

6 December 2021 12:40 pm - 12 - {{hitsCtrl.values.hits}}

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Colombo High Court Trial-at-Bar today ordered to release several accused including former Finance Minister Ravi Karunanayke, Central Bank former Governor Arjuna Mahendran from 11 charges out of 22 in connection with the Central Bank bond auction held on March 31, 2016.

Colombo High Court Trial-at-Bar held that public property charges against the accused cannot be maintained against the accused. Accordingly, the Court ordered to release the accused from eleven charges.

The indictments had been filed against Perpetual Treasuries Private Ltd, former Finance Minister Ravi Karunanayke, CBSL former Governor Arjuna Mahendran, Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa and Badugoda Hewa Indika Saman Kumara in connection with bond auction held on March 31, 2016.

The case was dismissed on a preliminary objections raised by the 7th accused Ranjan Hulugalle

President's Counsel Anil Silva, Counsel Asela Searasinghe, Hafeel Farisz, Sahan Kulatunga and Vishwaka Peiris appeared for the 7th accused.

Attorney General's stance regarding the future cause of action to be informed on January 26

The Attorney General had alleged that the Perpetual Treasuries limited is using the Central Bank's important undisclosed information to artificially alter the final outcome of the Treasury bond auction, as it has had a huge impact on the overall national economy as a result of the subtle and systematic conduct of the offenses related to this fraud and has caused injustice to other primary sellers in the bond market and the PTL has acted cunningly and made a huge profit and conspired to cause a huge loss to the government. (Lakmal Sooriyagoda)

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Comments - 12

Gayan Monday, 06 December 2021 01:54 PM

Three cheers to our judiciary.

Gayan Monday, 06 December 2021 02:02 PM

Next, the AG would be asked to pay compensation to these people.

common man Monday, 06 December 2021 02:14 PM

One country 2 laws.

Ara Monday, 06 December 2021 03:24 PM

Why is Ranjan ramanayake in prison, release him immediately

Man Monday, 06 December 2021 03:36 PM

The deal works.

Roshanaly Monday, 06 December 2021 03:45 PM

You save me , I will save you, that is the political agreement.

sam Monday, 06 December 2021 03:47 PM

What a waste of time, money, matter of time for other charges to have same fate.

Blessing Monday, 06 December 2021 04:31 PM

Everything is upside down in Sri-Lanka. Good peole must be prepared for lawsuits and jail sentence for being good.

N SENA Monday, 06 December 2021 06:40 PM

RIGHT FROM THE OUTSET I TOLD MY FRIENDS THAT NO ONE CAN FIND FAULT IN THE AUCTION PROCESS. FORMER AG HAS BLUNDERED

jan Monday, 06 December 2021 07:00 PM

ORDINARY MAN WHO STEALS A COCONUT FROM NEIGHBORHOOD OR RUNNING ON RED TRAFFIC LIGHT BROUGHT TO LAW N IMPRISONED,BUT WEARING TIE COAT HIGHEST POSITIONS IN GOVERNMENT LOOTING BILLIONS GOES OUT FREELY WHERE'S IS THE LAW

ponna wahallu Monday, 06 December 2021 07:18 PM

This is paradise for thugs, criminals and goons.. This country will remain as "undeveloped" nation for another century...

Ranaweera Tuesday, 07 December 2021 08:17 PM

Ha ha ha now you catch them if you can.

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Third CB bond issuance: Court releases Mahendran, Ravi and others from eleven charges

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