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Conflicts in DSI Board of Directors intensify

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The Board of Directors of DSI Samson Group is embroiled in an intensified conflict, it is learnt.

The company, which is one of the largest private companies in the country, has about 30 subsidiaries. The conflicts had begun following a proposal made by a former managing director to evenly distribute the shares of the company among the family members.

The former managing director has submitted the proposal to the Board of Directors in the first week of April this year.

It was reported that some of the most profitable subsidiaries of this company are being operated by the sons of this managing director.

DSI Samson Group Managing Director Kasun Rajapaka and the other Directors including Thusitha Rajapaksa, Asanka Rajapaksa, Rohan Somawansa, Bhathiya Amarakone and Nelani Rajapaksa have been accused of being behind this conflict.

It was also reported that the actions of Varuni De Silva, the company secretary, have further aggravated this conflict.

Even though the company secretary should act impartially, it was said that Varuni is being biased.

Meanwhile, one of the Directors, Sajith Rajapaksa, was remanded in custody in connection with a shooting incident. It was revealed in the court that the other directors had allegedly conspired to remove him from the positions he held in the board.

The board of directors has removed Sajith from the position of managing director of three companies of DSI Samson group and from the position of director of other five companies. After he presented facts in the court, the court issued an order to reinstate him.

However, it was reported that Managing Directors Kasun Rajapaksa and Thusita Rajapaksa and the board of directors have been sued in several courts over these conflicts.

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Sri Lanka Mirror wishes everyone a happy Sinhala and Tamil New Year!

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The 2024 Sinhala and Tamil New Year dawned at 09.05 pm last night (April 13).

‘Sri Lanka Mirror’ extends heartfelt New Year greetings to all our readers. May this upcoming year be filled with boundless happiness, prosperity, and success for each and everyone of you.

–  Sri Lanka Mirror team

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Derailed train causes delays on coastal line

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A train has derailed at the Kalutara South railway station on Saturday morning (13).

Trains operating on the Coastal Line are thus experiencing delays, Sri Lanka Railways said.

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Kristalina Georgieva to head IMF for a 2nd term

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The Executive Board of the International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting on October 1, 2024.

The appointment comes ahead of the start of the fund’s spring meetings in Washington next week.

Georgieva, who has been in the role since the autumn of 2019, was the sole candidate for the position. However, it was only after European leaders signalled that they would endorse her last month that her candidacy was assured.

In a statement, the coordinators of the Executive Board, Mr. Afonso S. Bevilaqua and Mr. Abdullah F. BinZarah has said, “Looking ahead, the Board welcomes Ms. Georgieva’s ongoing emphasis on issues of macroeconomic and financial stability, while also ensuring that the Fund continues to adapt and evolve to meet the needs of its entire membership. It recognizes her focus on strengthening the Fund’s support to its members through effective policy advice, capacity development and financing. The Board looks forward to continuing to work closely with the Managing Director.”

“I am deeply grateful for the trust and support of the Fund’s Executive Board, representing our 190 members, and honored to continue to lead the IMF as Managing Director for a second five-year term,” Ms. Georgieva has said.

The Bulgarian national has served as Managing Director since October 1, 2019. The Managing Director is the chief of the IMF’s operating staff and Chair of the Executive Board. The Managing Director is assisted by four Deputy Managing Directors in overseeing the Fund’s operations, which serve its membership through about 3,100 staff.

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