Central Bank begins a comprehensive audit on GK
With the intervention of the Finance Ministry to settle the long dragging Golden key (GK) fiasco, the Central Bank (CB) has launched a comprehensive situation audit into the past and present dealings, assets and liabilities of the GK Company as an initial step towards finding redress for around 8200 depositors.
A senior CB official told the Business Times that the Bank will take over the management of the court-appointed GK Company and all its subsidiaries and liquid assets following this comprehensive audit.
The regulator has stepped in to expedite the payment process and also ascertain whether those involved in the collapse should be punished. This was on a directive made by Governor Arjuna Mahendran prior to his taking leave amidst the Treasury bond saga. The Monetary Board has sent a letter to the GK company directing the directors to immediately stop extra payments being made to some of its directors, the official said.
The GK company has also launched an internal audit to finalise accounts and streamline functions of the company.
Marco Perera, President of the Voice of GK Depositors for Justice, said the present board of directors of the court-appointed company had failed to fulfill their task and breached the trust bestowed upon them.
Meanwhile desperate GK depositors staged a protest on Wednesday in front of the GK building at R.A. De Mel Mawatha, Colombo urging the authorities to return their money and remove the management from the company.