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MTFE linked to Subaskaran?

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Former champions of the Lanka Premier League (LPL) Cricket series, Jaffna Kings team owned by Subaskaran Allirajah, had received the sponsorship from Canada based MTFE SL Group on a request made to them, it was revealed.

Accordingly, the Criminal Investigation Department (CID) is reportedly looking into the companies owned by Allirajah and the MTFE SL Group.

Sources said that the investigation has become much easier since Allirajah is now in Sri Lanka and is staying at the Taj Samudra Hotel, Colombo.

Meanwhile, the CID informed the court yesterday (21) that MTFE SL Group has illegally amassed over Rs.1,000 million as deposits from the public.

The CID officials said that this institution has not been registered with the Central Bank of Sri Lanka (CBSL) and that it has collected millions of rupees from a large number of people in Sri Lanka.

Sergeant (23072) Vijitha Rajapaksa attached to the CID revealed to the court that this company was registered at the Department of the Registrar of Companies in 2022, but the activities of the company had not been stated properly.

According to the information given to the Registrar of Companies by MTFE SL Group, which has been accused of engaging in pyramid scheme-type transactions, five persons identified as its directors including Randunu Devage Duminda Thushara Jayawansa, Randunu Devage Indika Niranjan Jayawansa and Withanage Kanaka Nalin Gunasekara have been banned from leaving the country. The travel ban was imposed by Chief Magistrate Prasanna Alwis recently.

Randunu Devage Duminda Thushara Jayawansa, resident of No. 521/B, High Level Road, Panagoda, Homagama, who is a director of the company had submitted an anticipatory bail application to the Colombo Chief Magistrate’s Court.

The Chief Magistrate rejected the bail application pointing out that CID investigations may be hampered if the applicant is granted bail as an investigation is being conducted into illegal money transactions.

However, it was reported that Randunu Devage Duminda Thushara Jayawansa’s brother Indika Niranjan has fled to Dubai, UAE.

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Excise officers who kidnapped Beedi businessman remanded

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Five suspects including the Tangalle Excise OIC who were arrested over kidnapping and assaulting a Beedi businessman in Walasmulla, have been remanded till October 5 after being produced in the Walasmulla Magistrate’s Court.

The Excise OIC, two other excise officers and a driver from the Tangalle Excise Station and an army sergeant are among the remanded suspects.

The business license of the businessman residing in Maraketiya, Rajapuragoda in Walasmulla expired on June 26.

A team of excise officials including the OIC of the Tangalle Excise Station had arrived at his house on September 18 and seized the Beedi leaves.

Excise officials had demanded Rs.1.4 million from the businessman not to take legal action in this regard.

They had taken the businessman away in a three-wheeler, beaten him up, and then had taken an amount of Rs.1 million by force.

A nearby CCTV camera has captured the excise officers kidnapping the businessman.

Meanwhile, the four Excise officers were interdicted by the Commissioner General of Excise.

The decision has been taken following the instruction of State Minister of Finance Ranjith Siyambalapitiya.

The four Excise officers were interdicted over the allegations of assault and soliciting a bribe from the Beedi manufacturer for not implementing the law against him for possession of Beedi leaves without a license.

Related News: 

Excise officials kidnap beedi businessman & forcefully take Rs.1mn

4 Excise officers interdicted for assaulting Beedi businessman

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Nandiyas, Sri Lanka’s oldest turns 109

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The 109-year-old Magala Kottachchi Nandiyas, a resident of Kappettiagoda in Galle, is the oldest citizen in Sri Lanka, the National Secretariat for Elders confirmed.

According to his identity card, Nandiyas was born on June 3, 1914. Nandiyas, who lives a very healthy life even now, is a farmer by profession.

Although he had only gone up to grade five, he can read and write.

It is said that the reason for this senior citizen’s healthy lifestyle is the toxic-free nutritious diet.

Until recently, he has cultivated potatoes, sweet potatoes, and even cassava in his home garden.

He is a father of four and a grandfather of four grandchildren. The youngest grandson is now five years old.

Nandiyas is fondly called ‘Loku Aiya’ or Big Brother by the whole village.

The beloved wife of Mr. Nandiyas had passed away some time ago.

Although he has recently developed a hearing impairment, his memory is still intact.

Source – Dinamina

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Port City to be ‘Colombo Financial Zone’: President

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President Ranil Wickremesinghe said that a new legislation has been drafted to transform the Port City as the Colombo Financial Zone.

President Wickremesinghe said this in his address at the 2023 Commercial Mediation Symposium at Colombo’s Hilton Hotel, the President’s Media Division said.

The event was organized by International Alternative Dispute Resolution Centre (IADRC).

The President underscored the significance of international trade agreements and the need for Sri Lanka to become a center for alternate dispute resolution.

He urged legal professionals to look beyond Sri Lanka’s borders and specialize in emerging fields like AI, Blockchain and green energy to secure the nation’s competitive future.

“Now we want Sri Lanka to be a center. One is the new legislation which will replace the port city to make it a Colombo financial zone with jurisdiction for offshore activity. The new law has been drafted. And we will see the light of day before the end of the year.”

“Secondly, the BOI will be replaced with the Economic Commission. Which is also looking at the resolution of disputes. We will be entering a number of free trade agreements. We have got one with Singapore. We are about to finalize one with Thailand. We are discussing with India to upgrade the agreement. Talking with Bangladesh. And more than that, we are moving to join the Regional Comprehensive Economic Partnership (RCEP). That’s the largest trading community in the world. So this means that alternate dispute resolutions are going to be important.”

In a final call to action, he offered government funding to support learning and expertise development in these new areas, inviting all stakeholders to join in the journey towards a more efficient and forward-looking legal landscape in Sri Lanka.

President Wickremesinghe emphasized that Sri Lanka must position itself as the central player in the region. When examining Singapore as a benchmark, Sri Lanka should strive to match or surpass Singapore in various aspects, except for cost, where it should maintain a competitive advantage.

This approach is crucial because there exists a noticeable void in this region, which Sri Lanka can effectively fill if it acts swiftly.

“This is the key lesson to be derived. Furthermore, it is essential for all lawyers and individuals involved in legal services to broaden their perspectives and explore opportunities beyond their current scope,” the President added.

Meanwhile, he acknowledged the long-standing reliance on trial courts and stressed the importance of embracing alternate dispute resolution methods.

Highlighting the government’s commitment, he mentioned the establishment of the Alternate Dispute Resolution Center in 2018 and expressed support for its continued growth.

President Wickremesinghe urged the Ministry of Justice and Ministry of Investments to collaborate on supporting these initiatives.

“Alternate dispute resolution, arbitration, both have a long way to travel in Sri Lanka and that’s our problem. We have to first find ways of how we can adjust to this process. You need a change of culture. Change of culture where disputes can be resolved in the shortest possible time. Which means we are in a way wedded to the old concept of the trial court? Whether we have a domestic inquiry, we all want to follow the same procedure. I don’t know why. But nevertheless, this is one of the challenges that we have to face.”

He emphasized that success in dispute resolution was crucial for Sri Lanka’s aspirations to be an outward-looking economy.

The event was attended by Justice Minister Wijeyadasa Rajapakshe, State Minister Anuradha Jayarathne, Judges of the Supreme Court, Attorney General, Former Attorney Generals, Retired Judges of the Supreme Court, Resident Representative of UNDP Azusa Kubota, Secretary to the Ministry of Justice, IADRC Chairman Dr. K. Kanag-Isvaran, Director & Secretary General of IADRC Dhara Wijayatilake, legal professionals and the representatives of reputed companies in Sri Lanka.

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