Some disgruntled GK depositors oppose CB bail-out plan
View(s):By Bandula Sirimanna
Several disgruntled depositors of the failed Golden Key Credit Card Company (GK), in an emotional move on Wednesday, signed a petition against the Central Bank (CB)’s action plan for repayment.
A depositor signs the petition. Pic by Amila Gamage
These depositors met opposite the former GK head office at Duplication road, Bambalapitiya to launch a signature campaign urging the Supreme Court and relevant authorities to withhold the implementation of the action plan.
They say the plan will swallow up their remaining security deposits.
Depositors expressed fear that they will not get their deposits due to the deduction of rebate and converting the balance money into shares in the proposed GK company. A 72 year-old GK depositor, Susantha Fernando told the Business Times that the self-appointed office bearers including the chairpersons of the GK All Depositors Association Dushyanthi Hapugoda and Wasantha Gunathilake of the Golden Key Depositors Society have misled the depositors to get their consent for the implementation of the action plan. Further these two persons had participated in meetings with the CB and the government and later got themselves appointed as directors of the proposed new company, he alleged.
A group of around 25 depositors led by Ms. Hapugoda and Mr. Gunathilake had tried to intimidate some of depositors who came from distant areas to sign the petition, he said. However, Ms. Hapugoda told the Business Times that a minor group of depositors was trying to sabotage the government sponsored, CB repayment plan. She said, “our members came here to create awareness on the payment plan and not to clash with few depositors “ But both parties were seen arguing with each other using abusive language in a tense atmosphere. Mr. Fernando said he came to sign the petition and “Dushyanthi” had insulted him in front of others using abusive language. He alleged that the depositors have not elected her as the chairperson of the GK Depositors Association and she has no qualifications to hold the position of director on behalf of them.
He noted that he has already made a complaint against Ms. Hapugoda alleging corrupt practices to the Criminal Investigation Department and Fraud Investigations Bureau. The group said they have written to the President on this matter.
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