The Colombo Chief Magistrate had ordered to fine 09 Director Board members of Perera and Sons Rs. 180,000 each.
They had pleaded guilty over a case filed with regard to Lamprais unfit for consumption being sold at one of their outlets.
The Gothatuwa PHI office had handed over Lamprais samples from the popular food chain to the Medical Research Institute in Borella and test results had confirmed the samples were contaminated with bacteria.
Accordingly, the Gothatuwa PHI office had filed a case against the company and 09 Director Board members.
Sri Lanka is set to pay Rs.300-500 million to India’s Adani Company for initial costs sustained by it in terms of the two renewable energy projects, a top source said.
India’s Adani Green Energy withdrew from the projects after differences with the National People’s Power (NPP) government over pricing. The company asked for reimbursement of the initial expenses it incurred here for the execution of the project. The letter was sent in May this year announcing withdrawal from the project and seeking reimbursement.
Afterwards, the Sustainable Energy Authority of Sri Lanka, upon request by the Energy Ministry, sought legal advice on whether payments should be made as requested by the Indian company.
The source said, on condition of anonymity, that legal advice was received yesterday for reimbursements of some of the expenses, and the total amount would be in the range of Rs.300 to 500 million. The Authority is firm that payment made by Adani for the energy permit need not be reimbursed no matter what. However, the exact amount of reimbursements would be determined after consultation of the Attorney General and approval of the board of directors of the Authority within the next few months.
The company was to build wind power plant projects in the Mannar and Pooneryn towns in the Northern Province, investing $442 million.
The project was expected to add at least 350 MW to the national grid by 2025. The company authorities sent a letter to the government authorities in May this year asking for reimbursement of expenses it made initially for research and investigation along with the Sustainable Energy Authority (SEA) in Sri Lanka.
The source said that the entire deal with Adani would be closed after clearance of due reimbursements for fresh tenders to be called for the same renewable energy projects in the north.
“Adani can also participate in the tender process then,” the source said.
Adani struck the deal for the projects with the previous government. The Cabinet approval had been given for them at that time.
(dailymirror.lk)
(This story, originally published by dailymirror.lk has not been edited by SLM staff)
In a strategic step to enhance macroprudential oversight and reduce systemic financial risks, the Central Bank of Sri Lanka (CBSL), acting as the country’s Macroprudential Authority, has introduced new directives setting maximum Loan-to-Value (LTV) ratios for vehicle-related credit facilities.
Effective 18 July 2025, these directions apply to all Licensed Commercial Banks, Licensed Specialised Banks, Licensed Finance Companies (LFCs), and Registered Finance Leasing Establishments (RFLEs) across the country.
According to the CBSL, the move aims to standardize lending practices across financial institutions and promote responsible credit behavior, particularly concerning loans for the purchase or use of motor vehicles.
Thereby, the opportunity provided based on the 2018 guidelines to obtain financing facilities of up to 90% of the value of the vehicle under the electric category has been reduced to 80% for commercial vehicles, 60% for motor cars, SUVs and vans, 50% for three-wheelers and 70% for other vehicles.
The measure is designed to harmonise existing LTV caps across institutions and reinforce prudent lending practices, particularly for credit extended for the purchase or utilisation of motor vehicles, the Central Bank of Sri Lanka (CBSL) said in a statement.
Accordingly, credit facilities granted by every licensed bank, LFC and RFLE for the purpose of purchase or utilisation of motor vehicles shall not exceed the following percentages of the value of such vehicles:
(i) 70 per cent in respect of registered vehicles which have been used in Sri Lanka for more than one year after the first registration.
(ii) (a) In respect of unregistered vehicles and registered vehicles which have been used in Sri Lanka for less than one year after the first registration;
Reasons behind the sudden cancellation of Bollywood icon Shah Rukh Khan’s scheduled appearance in Sri Lanka later this year, has caused much speculation, even in Indian media, reports say.
The mega star was to appear at the much anticipated launch of City of Dreams, Sri Lanka, which is touted as the first integrated resort of South Asia.
It is now reported that Mr. Khan was compelled to suddenly visit New York, which had led to the cancellation.
The City of Dreams Sri Lanka – a joint project between Nuwa Hotel and global casino operator Melco Resorts & Entertainment is slated to open on August 02.
Earlier, in October last year, the first phase of the project was launched with the opening of Cinnamon Life Hotel, a 687-room luxury hotel.
The Nuwa Hotel comprises 113 rooms.
Melco, known for operating luxury integrated resorts in Macau, the Philippines, and Cyprus, manages all properties under the City of Dreams brand.
A 20-year gaming license
In April, Melco announced that it had secured a 20-year gaming license from the Sri Lankan government.
Accordingly, in partnership with John Keells Holdings (JKH), Melco is investing approximately USD125 million to develop the gaming space.
Calling it a “small wager” with strong potential returns, Melco Chairman and CEO – Lawrence Ho projected the casino would generate a Gross Gaming Revenue (GGR) of USD 250 million annually, once fully operational.
Ho is confident City of Dreams Sri Lanka will boost tourism to the area. “We expect to make a significant and positive impact on the local community and economy,” he said in a statement. “We believe Sri Lanka has immense potential and this opportunity complements our existing portfolio of properties.”
JKH chairman and CEO Krishan Balendra called City of Dreams “an iconic development” that could be a “transformative development in South Asia and be a catalyst in creating tourism demand, foreign exchange earnings for Sri Lanka and generating employment”. He expects it to have the same positive impact on Colombo as Marina Bay Sands and Resorts World Sentosa had in Singapore.
Controversy
The casino license has sparked controversy as a 2015 cabinet decision taken under the then-President Maithripala Sirisena, had banned casino operations at the hotel premises.
Although the then-Prime Minister Ranil Wickremesinghe’s faction had previously approved several companies to open casinos under tax concessions, Sirisena reversed those approvals via a cabinet paper dated January 31, 2015.
Now, questions are being raised about how a license was issued despite that ban.
Following the tenure of Maithripala Sirisena, Gotabhaya Rajapaksa and Ranil Wickremesinghe functioned as Presidents of Sri Lanka with Anura Kumara Dissanayake currently at office.
Critics question whether a new cabinet paper was approved at some point, and if so, under which administration, and whether it complies with the mandated 45% casino revenue tax.
Media reports also claim that multiple parties are planning to seek legal redress in this regard.
