CBSL bosses in deal with ‘seizures’!



There is no legal provision to take over the vehicles of the people who are unable to pay lease installments, Integrated Transport Operations Center Chairman Sampath Ranasinghe said.

Speaking at a news conference held last morning (24) at the N.M. Perera Centre in Colombo which was provided with special police security, Mr. Ranasinghe said the people should oppose ‘seizures’ who take their vehicles away.

“Today, we are holding this press conference in a way that no press conference has ever been held. We have received special police protection today. The best example of how bad this leasing mafia has become is that we have to hold a press conference today under police protection. The ‘seizures’ have no legal authority to take away any vehicle. All the people who pay lease installments should keep in mind that seizures have no legal authority to seize your vehicle. That authority has been abolished by this circular. However, some leasing companies are seizing vehicles against this circular. We have continuously informed the IGP about this. We have doubts whether the senior officials of the Central Bank of Sri Lanka (CBSL) have made a deal with these leasing companies. These types of circulars that have no value should not have been issued in the first place. We request the CBSL Governor not to issue such inefficient circulars.

“Vehicle owners who have failed to settle lease installments now drive their vehicle with some kind of weapon near the driver’s seat and keep it for their own safety. Everyone should stand against the activities of leasing companies by now,” he said.


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