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Onmax bosses hold Rs.800mn in accounts: CID informs court!

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Funds worth over Rs.800 million have been deposited in the accounts of the Board of Directors of Onmax DT (PVT) LTD which has been designated as a pyramid scheme, the Criminal Investigation Department (CID) informed the Colombo Chief Magistrate’s Court yesterday (12).

The CID informed the court that this was revealed during an investigation conducted in relation to a written complaint made by the Director of the Financial Intelligence Unit of the Central Bank of Sri Lanka (CBSL).

Rs.550 million in Sampath Sandaruwan’s account

The directors were identified as Kahandawa Arachchilage Athula Indika Sampath (Rs.29,567,044), Sinhala Pedige Gayashan Abeyratne (Rs.1,970,804), Lenduwage Sampath Sandaruwan (Rs.558,941,657), Galabada Vidhana Arachchilage Saranga Randika Jayatissa (Rs.182,563,641) and Mallawa Appuhamilage Dhananjaya Jayan (Rs.111,574,964).

However, the CID informed that there is no significant cash balance in the account of the company and informed the court that further investigations will be conducted.

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No justification for coconut oil price hike – Coconut Development Authority

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The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

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Coconut oil price upped

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The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200. 

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

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Registration compulsory for all money changers 

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The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it. 

The CB order is in effect from 3 June 2024. 

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner. 

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