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CoI calls for details of Perpetual’s new companies and dealings
View(s):The Commission of Inquiry probing the Central Bank’s treasury bond issue has ordered Perpetual Treasuries to submit details regarding shares of several institutions it had purchased after the controversial auction of treasury bonds. The commission ordered Perpetual Treasuries to submit these details before Wednesday.
Justice Prasanna Jayawardena, one of the Commissioners, said Perpetual Treasuries’ dealings in the primary and secondary markets, along with companies and shares of companies it had purchased needed to be examined. He ordered the company to provide these details through a sworn affidavit.
Accordingly, Perpetual Treasuries was ordered to provide details of shares it held in the National Development Bank, W.M. Mendis & Company Ltd, ‘Asia Voice Network’ which owns the ‘Siyatha’ television and radio channels and the newly established ‘Integrated Media Network’ which publishes the ‘Janayugaya’ newspaper.
President’s Counsel Nihal Fernando, who appeared on behalf of Perpetual Treasuries, requested permission to submit these details directly to the Commission’s registrar. The Commission granted counsel permission to do so. The Commission is probing the Central Bank’s bond issues from February 1, 2015 to March 31, 2016. It comprises Supreme Court Justices K.T. Chitrasiri, Prasanna Jayawardena and retired Deputy Auditor General V. Kandasamy.
Meanwhile, giving evidence before the Commission on Friday, Brian Chinnaiyah, Chief Financial Officer of Global Transportation and Logistics Pvt. Ltd, said the company purchased an apartment at “Monarch Apartments” in Kollupitiya on the instructions of Foreign Minister Ravi Karunanayake’s wife and daughter. He said that Global Transportation and Logistics Pvt. Ltd chairman Lakshmi Kanthan had provided Rs.145 million in cash on two occasions to pay off loan installments to Seylan Bank for the apartment.
However, instead of depositing the Rs.145 million in a bank, the funds were kept in the company’s safe while the loan instalments were being paid, he said. Mr. Chinnaiyah also said he did not know how Mr. Kanthan came to obtain the funds, nor did he ask him.