The National Savings Bank (NSB), which last week took over the management of the failed Entrust Securities PLC on a directive of the Central Bank, said on Tuesday that it was in the process of ‘undertaking a financial due diligence (of the company)”.
In an announcement to the Colombo Stock Exchange since Entrust is a listed company, the state-owned bank said that an action plan to restructure the company will be prepared as the second step. NSB said it has been vested with taking ‘appropriate measures for recovery and restructuring’ of Entrust Securities which is said to have liabilities totalling Rs. 6 billion. – ENDS -
Former President Ranil Wickremesighe was remanded till August 26 by Fort Magistrate Nilupuli Lankapura a short while ago.
Former President Ranil Wickremesinghe was arrested by the CID this afternoon in connection with the misuse of public funds.
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