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Bond Scam: Court released Mahendran & others from Public Property charges

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Former Central Bank Governor Arjuna Mahendran, and nine other people who were accused in the 1st Bond Scam case of 2015 were released from the charges filed under the Public Property Act, by the Colombo Permanent High Court Trial-at-Bar on Tuesday (11).

The court ruled that it cannot proceed with the charges filed under the Public Property Act by the Attorney General against the ten people accused of committing the Bond Scam of 2015.

The verdict was delivered by a 2/3 majority in the court.

The case was called up in the presence of Justices Chamath Morias, Damith Thotawatte, and Namal Balalle.

President’s Counsel Gamini Marapana had filed a preliminary objection with the court noting that charges cannot be charged against a company under the Public Property Act and noted that Perpetual Treasuries Limited which was also named as an accused is a company and not a person.

After the court accepted the objection, the defense counsel also argued that as a majority of the other accused at Directors of Perpetual Treasuries Limited, it applies to them as well, and therefore the charges under the Public Property Act filed against them cannot be taken forward.

Thereby, the Justice of the Permanent High Court Trial-at-Bar ordered for all other charges to be taken up for a trial, leaving the charges filed under the Public Property Act, on the 16th of December 2022.

The case was filed against the 10 accused under 23 counts for committing the Bond Scam on the 27th of February 2015, and causing a loss of Rs. 688 Million to the government.

The accused are:

Ex-CBSL Governor Lakshman Arjuna Mahendran

Ex-CBSL Deputy Governor P. Samarasiri

Perpetual Treasuries Limited

Arjun Joseph Aloysius

Kasun Palisena

Geoffrey Joseph Aloysius

Pushpa Chandra Gunawardena

C. Ranjan Hulugalle

Muthuraja Surendran

Ajahn Gardiye Punchihewa

(News1st)

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Let’s build a nation rooted in historical heritage (Pics)

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President Anura Kumara Dissanayake stated that a society cannot progress without a meaningful connection to its historic heritage and that the nation’s development path must be chosen accordingly.

The President made these remarks while addressing a ceremonial gathering yesterday (July 10) afternoon at the historic Ruhunu Kataragama sacred site.  

Earlier in the day, President Dissanayake visited the sacred grounds of Kataragama, participated in religious observances and later paid a courtesy call on the Venerable Kobawaka Dhamminda Nayaka Thera, the Chief Incumbent of the historic Kirivehera Rajamaha Viharaya, inquiring about his well-being and engaging in a brief discussion.

The President also attended the final Randoli Maha Perahera (Golden Chariot Grand Procession) of the annual Esala Festival at the Ruhunu Kataragama Maha Devalaya, where he witnessed the ceremonial placement of the sacred relic casket upon the relic bearing tusker.  

Addressing the gathering, President Dissanayake further emphasised that a nation can only move forward by maintaining continuity with its historic heritage. He noted that every developed country in the world has achieved progress by preserving its historical legacy and building upon it, stressing that Sri Lanka, too, must choose a development path anchored in its heritage.

The President highlighted that Buddhism played a pivotal role in transforming our society into a cultured civilisation and that cultural festivals like this help revive and strengthen the moral and social values of a society often preoccupied with material pursuits.  

He pointed out that the Ruhunu Kataragama Perahera has been held continuously for 2,186 years, spanning nearly a hundred generations and that its survival has been possible due to the deep connection between this cultural ceremony and the lives of the people. The President extended his gratitude to all those, including the Chief Incumbent, who contributed to the success of this year’s procession.  

Among those present at the occasion were Deputy Minister of Trade, Commerce, Food Security and Cooperative Development, R.M. Jayawardena, Governor of the Uva Province, Attorney-at-Law Kapila Jayasekara, Member of Parliament Ruwan Wijeweera, Chairman of the Kataragama Pradeshiya Sabha, Dharmapala Herath and Monaragala District Secretary Pasan Ratnayake.

(President’s Media Division)

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Charges against Keheliya & others postponed

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The Colombo Permanent High Court Trial-at-Bar has postponed the formal serving of charges against former Health Minister Keheliya Rambukwella and 12 others to Sep. 16, citing delays in the printing of annexures required to accompany the chargesheets.

Deputy Solicitor General Lakmini Girihagama, appearing for the prosecution, informed the court that while the chargesheets had already been filed, the annexures had not yet been submitted due to printing delays. She noted that it would cost approximately Rs. 866,565 to print the annexures for each accused and that the documents for all twelve defendants are yet to be prepared.

The Government Printer has indicated that it would take about 21 days to complete the printing. Therefore, the prosecution requested the court to reschedule the case accordingly. The court granted the request and fixed the next hearing for Sep. 16.

The Attorney General has filed 13 charges against the accused, including allegations of conspiring to fraudulently misappropriate Rs. 1.444 billion in public funds by supplying 6,195 vials of human immunoglobulin and non-pharmaceutical substances such as Ritopsimap to the Ministry of Health’s Medical Supplies Division.

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UK’s relaxed trade rules to boost SL exports

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The Government of the United Kingdom (UK) has unveiled a package of reforms to simplify imports from developing countries like Sri Lanka after upgrades to the Developing Countries Trading Scheme (DCTS).

The changes, announced as part of the UK’s wider Trade for Development offer, aim to support economic growth in partner countries, including Sri Lanka, while helping UK businesses and consumers access high-quality, affordable goods.

New measures include simplifying rules of origin, enabling more goods from countries such as Sri Lanka, Nigeria, and the Philippines can enter the UK tariff-free, even when using components from across Asia and Africa.

These changes are expected to be in place by early 2026.

This move strengthens Sri Lanka’s position in its second-largest apparel market, supporting exports, jobs, and economic growth.

The British High Commissioner to Sri Lanka, Andrew Patrick, said: “This is a win for the Sri Lankan garment sector, and for UK consumers. With the UK being the second largest export market and garments making up over 60% of that trade, we know manufacturers here will welcome this announcement.

“We want Sri Lanka to improve the utilisation of the UK’s Developing Countries Trading Scheme for a wider range of goods, not just garments. With the Sri Lankan government’s ambition to grow exports, and with the simplification of rules of origin for other sectors too, we strongly encourage more exporters to explore how they can benefit from the preferences offered by the DCTS. The UK remains committed to working towards creating shared prosperity for both our countries.”

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