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The Colombo Permanent High Court Trial-at-Bar today (06) ordered the release of several accused including former Finance Minister Ravi Karunanayake, former Central Bank Governor Arjun Mahendran and Perpetual Treasuries Director Arjun Aloysius from 11 charges out of 22 in connection with the Central Bank Bond Scam issue in 2016.

A three-judge bench of High Court Judges issued the order announcing the verdict on a preliminary objection raised by the panel of lawyers, including President’s Counsel Gamini Marapana, who appeared for the accused at the commencement of the trial today.

The bench comprising Justices Amal Ranaraja, Namal Balalle, and Aditya Patabandige ruled that 11 of the 22 charges filed in the Bond Scam Scam, cannot be carried forward and therefore decided to release 10 of the accused, including former Finance Minister Ravi Karunanayake from those 11 charges.

Indictments had been filed against Former Finance Minister Ravi Karunanayake, former Central Bank Governor Arjun Mahendran, Perpetual Treasuries Director Arjun Aloysius, its Chairman Jeffrey Joseph Aloysius, CEO Kasun Palisena, Directors Ajan Gardiya Punchihewa, Sangarapillai Padumanathan, Indika Saman Kumara, Chitta Ranjan Hulugalle, Pushpamitra Gunawardena and Perpetual Treasuries Ltd., in connection with bond auction held on March 31, 2016.