COPE likely to resurrect CB bond probe
View(s):The Committee on Public Enterprises (COPE) is likely to re-examine next week the controversial bond issue by the Central Bank (CB) in which a firm associated with the son-in-law of Central Bank Governor Arjuna Mahendran was allegedly favoured in the bids Parliamentary sources said. They said that COPE is meeting on Thursday, February 25 and this issue is expected to arise. “Either way – whether to proceed, how to proceed or not to proceed – the Central Bank issue would be raised by MP-members,” one source said.Controversy reigned over the February 2015 bond issue which was increased to Rs. 10 billion from an advertised Rs. 1 billion. Perpetual Treasuries, a firm connected to Mr. Mahendran’s son-in-law, Arjun Aloysius, won the bulk of the tender raising questions of impropriety. An earlier probe by COPE on the issue ended abruptly since Parliament was prorogued mid last year.