Like many others, my children invested a lot of money on Okanda Finance Pvt. at Dehiwala many years ago and, in recent years are waiting for a return.
They invested Rs.300,000 in 2002 just like many others. I believe there would be over 1,000 investors who paid their money to this company many after retiring from employment in the Government and the private sector.
This company paid interest regularly to everyone who invested, from the monies accrued from their investments, to the satisfaction of the investors. The company’s mode of payment was, not a “Fixed Deposit’ one. It was a loan granted for their investments. The Central Bank was averse to this method of payment and requested the company to revert to a ‘Fixed Deposit’ payment system, but the company did not wish to follow Central Bank’s rules. Particulars of the mode of payment by the company were submitted to the Central Bank at their request, which were rejected and the company ordered to terminate all financial transactions.
It is understood, the company, thereupon, referred the matter to Courts and I believe the verdict was in favour of the Central Bank. The investors hardships began from September 2008 and upto date, they have not received their interest nor their hard earned capital from this dubious company.
My children and all those who invested in this company, are greatly disappointed and frustrated as their due monies are not returned to them.
The Governor of the Central Bank, having caused damage by putting an end to the financial transactions carried out by Okanda Finance Co is now staying mum without looking into the sufferings of the people, who invested their hard earned money with this company.
Company Chairman M.B.Okanda Silva and his accomplices have duped all the investors, who had confidence in his company and embezzled the precious money of the investors. Even at this late stage, to save their reputation, they need to pay the investors from their own assets and dispose the company’s present assets, like Golden Key which ran a similar deposit collecting service that deviously could not be categorised as a ‘fixed deposit’ and thus escaped Central Bank monitoring and governance.
I shall be grateful to the President of Sri Lanka if he could intervene in this crucial matter and bring some solace to the suffering investors, who are now living in a desperate situation in the absence of money for their existence.
O.G.D.W.Jayasinha
Pannipitiya |
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