One person was hospitalised after arguments and fisticuffs broke out at a stormy Ceylinco Insurance meeting of shareholders in Colombo on Tuesday morning, shareholders said. Officials from the Global Rubber Industries (Pvt) Ltd (GRI) which has a 22.86 per cent stake in the company, at a hastily-called media briefing alleged that Ceylinco staff was behind the assault and vowed to file a complaint with the Securities and Exchange Commission (SEC) seeking action. They also showed a video of how shareholders were assaulted. Earlier in the morning, one shareholder present told the Business Times that at one point during the meeting a shareholder bit a security guard’s chest which turned bloody when guards intervened to break up opposing factions. More than 200 shareholders were present at the meeting. The company was holding two meetings, one at the request of a shareholder, and the second one to endorse a proposal for segregation of life and general units as separate entities. The trouble flared at the first meeting where GRI had wanted an explanation accusing the company of ‘surreptitiously transferring the business and assets without shareholder approval’. – Ends -
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