ETIF receives balance US $ 16 million to repay depositors at last
View(s):The much awaited US$16 million, the balance money of the Edirisinghe Trust Investment Finance Ltd (ETIF) transaction of $70 million in disposing its subsidiaries, sub-subsidiaries and investment properties, has been received by the company on Friday.
ETIF management announced that the repayment of another 10 per cent of the deposits to disgruntled depositors will commence from Monday.
Earlier $54 of the total $70 million has been received to ETIF which was utilised to repay 20 per cent of the deposits of depositors, a company official said.
The Central Bank (CB) at all times insisted on carrying out the transaction within applicable laws and regulations. As such, each tranche of the transaction, which was channelled to ETIF through reputed banking channels was approved by the CB subsequent to the relevant banks clearing the funds through enhanced due diligence conducted as per applicable laws and regulations. (Bandula)