HomeAftermath of the Bond Issue.
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කිත්සිරි ද සිල්වාTop contributor
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Aftermath of the Bond Issue.
Thu May 14, 2015 10:25 am
Three fundamental rights petitions filed over the controversial Central Bank Bond scandal, were dismissed by the Supreme Court on Wednesday, (May 13th).
The petitions were taken up before a three member bench, comprising of Chief Justice K. Sri Pavan and Justices Rohini Marasinghe and Priyasad Depp.
The petitioners had pointed out that while the CBSL had informed authorized primary dealers that bonds were being issued to raise 1 billion rupees, the Bank had then accepted bids worth 10 billion rupees.
They went on to note that an illegal act had been committed by failing to inform the public of the intention to accept higher amount of bids and by doing so one company has earned a profit.
However, after considering the submissions made by lawyers of both groups, the bench determined that there was no legal basis to consider the petitions.
Meanwhile, Opposition Leader Nimal Siripala de Silva says a decision has been made to support a motion in parliament, calling for the removal of Arjuna Mahendran as the Governor of the Central Bank.
The Opposition leader notes that even after complaints have been filed against the Governor of the CBSL both inside and outside Parliament, investigations are not being conducted. He notes that this shows bias in the investigative procedure.
Nimal Siripala also revealed that a motion has been submitted to parliament calling for the removal of Arjuna Mahendran and that 91 Mp’s have endorsed it.
The Opposition leader addressing a media briefing held on Wednesday (May 13th) revealed that as the Opposition Leader he too would support this motion.
Senior Banker Rusirupala Tennakoon noted that it is strange that Arjun Mahendran has resumed duties at the bank since there were some allegations levelled against him regarding the issue of the bonds previously.
He added that the report compiled by the 3 member investigative committee appointed the Prime Minister is yet to be tabled in Parliament.
Investigative Business Journalist Faraz Shauketaly noted that despite of the fact that the committee’s report has not been tabled in parliament, the parliament was given an opportunity to appoint a committee and look into the matter but Mr. Mahendran has mysteriously reappeared at the CBSL and reported back to work.
He went on to question that as to who gave him the authority act in this manner and also noted that this is a clear offence under the Public Property Act.
http://newsfirst.lk/english/2015/05/opposition-leader-to-support-motion-against-cbsl-governor/94669
The petitions were taken up before a three member bench, comprising of Chief Justice K. Sri Pavan and Justices Rohini Marasinghe and Priyasad Depp.
The petitioners had pointed out that while the CBSL had informed authorized primary dealers that bonds were being issued to raise 1 billion rupees, the Bank had then accepted bids worth 10 billion rupees.
They went on to note that an illegal act had been committed by failing to inform the public of the intention to accept higher amount of bids and by doing so one company has earned a profit.
However, after considering the submissions made by lawyers of both groups, the bench determined that there was no legal basis to consider the petitions.
Meanwhile, Opposition Leader Nimal Siripala de Silva says a decision has been made to support a motion in parliament, calling for the removal of Arjuna Mahendran as the Governor of the Central Bank.
The Opposition leader notes that even after complaints have been filed against the Governor of the CBSL both inside and outside Parliament, investigations are not being conducted. He notes that this shows bias in the investigative procedure.
Nimal Siripala also revealed that a motion has been submitted to parliament calling for the removal of Arjuna Mahendran and that 91 Mp’s have endorsed it.
The Opposition leader addressing a media briefing held on Wednesday (May 13th) revealed that as the Opposition Leader he too would support this motion.
Senior Banker Rusirupala Tennakoon noted that it is strange that Arjun Mahendran has resumed duties at the bank since there were some allegations levelled against him regarding the issue of the bonds previously.
He added that the report compiled by the 3 member investigative committee appointed the Prime Minister is yet to be tabled in Parliament.
Investigative Business Journalist Faraz Shauketaly noted that despite of the fact that the committee’s report has not been tabled in parliament, the parliament was given an opportunity to appoint a committee and look into the matter but Mr. Mahendran has mysteriously reappeared at the CBSL and reported back to work.
He went on to question that as to who gave him the authority act in this manner and also noted that this is a clear offence under the Public Property Act.
http://newsfirst.lk/english/2015/05/opposition-leader-to-support-motion-against-cbsl-governor/94669
Ethical TraderTop contributor- Posts : 5568
Join date : 2014-02-28
Re: Aftermath of the Bond Issue.
Thu May 14, 2015 11:12 am
Good Governance promoters in the Govt. should come out of their hiding & speakup now. Harsha, where are you?
- කිත්සිරි ද සිල්වාTop contributor
- Posts : 9679
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Re: Aftermath of the Bond Issue.
Thu May 14, 2015 12:06 pm
Yes, not only Harsha but all of us too. 
Ethical Trader wrote:Good Governance promoters in the Govt. should come out of their hiding & speakup now. Harsha, where are you?
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Re: Aftermath of the Bond Issue.
Thu May 14, 2015 1:29 pm
Cant oppersition party cant do any thing for this? Can they get leagel actions? I remember Ranil told to form a committee, why oppersition didnt doing that?
Wimal,Wasu,Gammanpila others cant you do anything without shouting. Cant you go any were to get leagel actions againsed this?
Wimal,Wasu,Gammanpila others cant you do anything without shouting. Cant you go any were to get leagel actions againsed this?
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