The second phase of GK repayment plan gets underway
View(s):Golden Key 41 per cent repayment process resumes under the new government amidst a fresh move by depositors to file another case against GK directors with the aim of recovering the balance 59 per cent of their money.
The Association of the Disgruntled Golden Key Women Depositors Unity is planning to file a case at the Colombo Commercial High Court making GK directors and Ceylinco Consolidated Limited liable to re-pay the depositors, the Chairperson of the association Pushpa de Silva told the Business Times.
She said that now it’s high time after the termination of F/R case on 4.8.2015, to file action in Commercial High Court against the Respondent Directors involved in this GK Fraud.
The association will seek permission from the Finance Minister for this purpose, she pointed out.
The second phase of the new government’s 41 percent repayment plan will commence soon after receiving the Treasury grant of Rs. 3.94 billion for the benefit of around 2700 disgruntled Golden Key depositors, Chief Executive Officer of the GK Credit Card Company Dinesh Perera disclosed.
(Bandula)
A sum of Rs. 544 million was paid to around 2500 depositors with deposits up Rs. 2 million under the first phase of the latest payment plan under the 100 day programme.
The proposal made by Finance Minister Ravi Karunanyake to release an advance of Rs. 3.94 billion from the Treasury to the Central Bank for the repayment of the second phase for depositors holding deposits from Rs. 2 – 10 million and to reimburse the said amount to the General Treasury by liquidation of assets of the GK Company, was approved by the Cabinet of Ministers, this week.
Cheques of 1030 depositors have been prepared and the company is ready to distribute it after the audit inspection and signing of the cheques, Mr Dinesh Perera revealed.
The depositors were paid under four phases previously during the previous regime. Rs. 791 million was paid to 8,052 depositors under phase one, while Rs. 685 million was paid to 7,036 depositors under phase two. Phase three – the payment of Rs. 574 million to 5,777 depositors, while under phase four, which concluded last January, Rs. 11 million was distributed among 457 depositors who had made investments of less than Rs.1 million. (Bandula)
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