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Overseas travel ban imposed on 4 top officials at MTFE

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The Colombo Chief Magistrate today (11) imposed an overseas travel ban on 04 leading figures of the MTFE SL Group.
The Group is facing charges of conducting activities that could fall under prohibited pyramid schemes.

An investigation has been initiated by the Financial and Commercial Crimes Investigation Division and the aforementioned order was made after officers investigating the case had made a statement to the Colombo Chief Magistrate’s Court this morning.

However, it is learnt that one of the 04 officials who had received this overseas travel ban, had already left for Dubai early this morning.

Earlier, the Central Bank of Sri Lanka too, had formally stated that it was advisable to initiate a separate probe under the CID with regard to the Pyramid schemes, in addition to the current investigation. The CBSL letter had added that it was also prudent to obtain an overseas travel ban since the top hierarchy of the company was capable of going abroad.

It is also said that MTFE SL Group has not been registered under the Central Bank.

The company is a sponsor of the 2023 LPL based on an agreement reached with Sri Lanka Cricket (SLC) and I.P.G. company and accordingly, it was seen how the company printed its logo on the jersey of the Jaffna Kings team and carried out advertising activities in the stadiums where the matches were held.

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CBSL probes Jaffna team’s sponsor MTFE SL Group

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SLFP to support no-confidence motion against the Speaker

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The Sri Lanka Freedom Party (SLFP) has announced its endorsement of the no-confidence motion to be brought against the Speaker of Parliament Mahinda Yapa Abeywardena.

Accordingly, the SLFP announced that it will support the motion being brought against the Speaker by the opposition, and will vote in favour of it.

On Monday (26 Feb.), several Opposition members, led by Samagi Jana Balawegaya (SJB) Leader Sajith Premadasa, signed a motion of no confidence against the Speaker, claiming that he had violated the Constitution.

As such, a group of MPs belonging to the opposition in Parliament including M. A. Sumanthiran, Lakshman Kiriella, Prof. G. L. Pieris, Tissa Attanayake, Chandima Weerakkody and Shan Wijayalal de Silva, had inked the motion for approving the much-disputed Online Safety Bill amidst ‘irregular procedures’.

The no-confidence motion pointed out that the Speaker had ignored the Supreme Court’s recommendations pertaining to Sections 13, 17, 20, 33 (6), 34 (1), 35 (1), 21, 22 and 33 of the Online Safety Bill.

Earlier this month, Opposition Leader charged that the Speaker had ignored nine recommendations given by the Supreme Court while enacting the Online Safety Act, adding that they no longer have faith in him.

(adaderana.lk)

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School outdoor activities suspended over soaring temperatures

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The Education Ministry has instructed all respective school authorities to refrain from making students participate in strenuous outdoor activities until Friday (March 01) at schools as temperatures are expected to rise further.

Accordingly, Sports Day events, sports practices or any other scheduled outdoor activities are urged to be suspended for the time being.

Provincial and zonal authorities of education have been instructed to brief school principals about the matter, the ministry said in a press release.

In addition, school administrations are required to comply with the health guidelines issued by the Health Ministry and the Education Ministry.

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Court suspends divestiture process of SLT & Lanka Hospitals

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The Court of Appeal yesterday (27) issued an interim order preventing authorities from proceeding with the divestiture process of Sri Lanka Telecom and Lanka Hospitals Corporation PLC, until March 12.

Three Petitions were filed for Sri Lanka Telecom PLC including by Lyca Mobiles, and S.M.R. M company, while two petitions were filed for Lanka Hospitals Corporation PLC including by Lyca Leasing Holdings.

Upon the oral submissions made by President’s Counsel Kuvera De Zoysa, Court of Appeal Justice D.N. Samarakoon issued notices on respondents, returnable for March 12.

The petitioners named Minister of Finance Ranil Wickremesinghe, State Minister of Finance Shehan Semasinghe, the members of the special Cabinet-appointed negotiating committee for the purpose of selecting pre-qualified bidders for the strategic divestiture pertaining to 51.34% shares of Lanka Hospitals PLC and several others as respondents.

Kuvera De Zoysa, PC with Raslka Dissanayake, Sajana de Zoysa, Dinusha Pathirana and Shablr Huzalr instructed by Sanath Wijewardane appeared for the petitioners.

The petitioners had informed the court that they had submitted bids per the required criteria for the divestiture of the Sri Lankan Government’s shares of 50.23% in Sri Lanka Telecom PLC and 51.34% in Lanka Hospitals Corporation PLC.

The petitioners alleged that, however, the Cabinet of Ministers had rejected the bids without providing any clear explanations, adding that the decision was against the law.

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