Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius and its Chief Excecutive Officer Kasun Palisena yesterday sought bail from the Court of Appeal through a revision application.
They were remanded in connection with the controversial Central Bank Bond issuance.
Arjun Aloysius states that by his application he was seeking Court’s Jurisdiction to the set aside order dated March 9,2018 of the Colombo High Court in Revision Application No. HCRA 22/2018.
The High Court refused Notice in the said Revision Application for affirming order dated 16-02-2018 made by the Magistrate’s Court of Fort in proceedings bearing No.B/8266/18, refusing the grant of Bail and committing the Petitioner to remand custody.
Aloysius states that he was arrested and produced before the Magistrate’s Court of Fort on February 4, 2018 and committed to remand custody by the Magistrate’s Court of Fort on February 4 and February 16 and thereafter, at the behest of and on the strength of further reports filed by the Criminal Investigation Department, in connection with an investigation commenced upon a complaint dated 25-11-2016, made by the Governor of the Central Bank of Sri Lanka.
Filing this petition through Counsel Sanath Wijewardena, Arjun Aloysius said he was arrested at his residence at approximately 7.30 am on February 4 by officers of the Criminal Investigation Department, acting under the supervision of the Attorney General.The Petitioner had not, up to his time of arrest, been notified or summoned by the Criminal Investigation Department, for the recording of a statement from him in connection with the said purported investigation or complaint made by the Governor of the Central Bank of Sri Lanka.
On February 4, 2018, upon the Counsel appearing for the Arjun Aloysius and Kasun Palisena moving that the matter be called on the morning of 05-02-2018, for making their legal submissions on behalf of the suspects with regard to their release on bail, the Magistrate made order that the matter be called before the said Court on 05-02-2018 and committed the petitioner and the other suspect to remand custody, Aloysius said.
The Magistrate made order that the written submissions of the Petitioner and the 4th suspect Palisena be filed on 07-02-2018 and proceeded to make order committing the Petitioner and the fourth suspect to Remand Custody, without making any order as to the grant or refusal of bail.
The Petitioner states that accordingly, aggrieved by the said order dated 16-02-2018 of the Magistrate of Fort, the Petitioner preferred a Revision Application against same to the High Court of the Provinces of the Western Province Holden in Colombo [HCRA 22/2018] wherein he invoked the Revisionary jurisdiction of the said Court on the grounds.
Aloysius states that on 09-03-2018, the Judge of the High Court of the Provinces of the Western Province Holden in Colombo, delivered his Order refusing the issuance of Notice in the said Revision Application to the Respondents.
In this application, the petitioner had cited the OIC of CID (Unit 3), the Director of CID and the Attorney General as respondents.
The suspects have been charged under Public Property Act, Penal Code, Registered Stocks and Securities Ordinance and Code of Conduct for Primary Dealers for illegal insider trading.
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