News

USD 20 mn. into Thambugala’s account in 2022

Published

7 months ago

July 10, 2024

editor

Deputy Solicitor General Dileepa Peiris disclosed to the Colombo Additional Magistrate that businessman Viranjith Thambugala, who gained popularity for organizing festivals and concerts nationwide, received over 20 Million US dollars in 2022 into his account.

This revelation was made during the hearing of the case filed against Thambugala by the Criminal Investigation Department for a financial fraud amounting to seventy million rupees.

Deputy Solicitor General Dileepa Peiris asserted that making confidential or in-camera statements about officers from the Criminal Investigation Department demanding ransom to manipulate the case constitutes an abuse of judicial power.

He emphasized that such actions could adversely impact investigations related to financial fraud and assets.

Furthermore, despite the suspect being a businessman, Deputy Solicitor General Dileepa Peiris said that no registered place of business or relevant accountant could be traced in his name.

Deputy Solicitor General Dilipa Peiris disclosed that the address provided as his business location turned out to be a private residence.

Deputy Solicitor General Dileepa Peiris also highlighted that if the investigating officers indeed demanded money from the suspect, a formal complaint should be lodged with the Bribery or Corruption Commission, and the Attorney General’s office would then provide necessary support.

The case is scheduled for another hearing on October 3rd.

(News 1st)

(This story, originally published by News1st has not been edited by SLM staff)

BIZ

Adani decides to withdraw from wind energy project in SL

Published

13 hours ago

February 13, 2025

editor

Adani Green Energy has decided to withdraw from its proposed wind energy project in Mannar, Sri Lanka.
The company has conveyed this decision in a letter addressed to the chairman of Sri Lanka’s Board of Investment.

“It was learnt that another Cabinet appointed negotiations committee and Project Committee would be constituted to renegotiate the project proposal,” the company wrote in a letter, a copy of which was seen by Reuters, addressed to the chairman of Sri Lanka’s Board of Investment.

“This aspect was deliberated at the Board of our company and it was decided that while the company fully respects the sovereign rights of Sri Lanka and its choices, it would respectfully withdraw from the said project,” the letter added.

Adani Green Energy is a part of Indian billionaire Gautam Adani’s Adani Group.

News

AG withdraws recommendation on Lasantha murder suspects

Published

14 hours ago

February 13, 2025

editor

The Attorney General has informed Mt. Lavinia Magistrate’s court that the recent recommendation made by him regarding the suspects involved in the murder of Sri Lankan journalist – Lasantha Wickrematunge will be suspended temporarily.

The AG has informed the Court of this in writing today (Feb. 13).

In a letter sent to the Director of the CID on Jan. 27, the Attorney General had previously provided his legal advice, regarding the release of three individuals.

News

UAE – SL reaches agreement to strengthen economic & investment relations

Published

18 hours ago

February 13, 2025

editor

Coinciding with the President’s three-day official visit to the United Arab Emirates (UAE) to attend the World Governments Summit 2025, Sri Lanka and the UAE reached an agreement on Reciprocal Promotion and Protection of Investments to strengthen economic and investment relations between the two countries.

The agreement was signed by Mohamed Bin Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs.

This bilateral agreement establishes a secure legal framework to expand investment opportunities in global markets while ensuring the protection of foreign investments.

The purpose of this agreement is to facilitate and strengthen foreign investments between the two nations by ensuring investor rights protection, promoting economic cooperation, and establishing comprehensive investment protection mechanisms, dispute resolution frameworks, and policy structures. This agreement will also contribute to strengthening global economic partnerships and creating opportunities for exploring new investment prospects in Sri Lanka.

This agreement underscores the importance of bilateral economic development and financial stability while demonstrating the commitment of both the United Arab Emirates and Sri Lanka to strengthening economic cooperation. It aims to foster trade and business expansion in Sri Lanka while promoting a transparent and stable investment environment.

Furthermore, this agreement also highlights Sri Lanka’s commitment to enhancing Foreign Direct Investment (FDI) and fostering a more attractive investment landscape. By enhancing investor confidence, it is expected to generate new business opportunities and contribute to economic progress.

Ultimately, this agreement will reinforce the long-term partnership between the UAE and Sri Lanka, facilitating sustainable investments and advancing trade and financial collaborations between the two countries.

(President’s Media Division)