Colombo Fort Magistrate Lanka Jayarathne yesterday ordered that the travel ban imposed against the former President’s Chief of Staff Gamini Sedara Senarath be revoked.
The Court also revoked the travel ban imposed against former Sri Lanka Insurance Corporation Managing Director Piyadasa Balage and former Samurdhi Commissioner Neil Bandara Hapuwinna.
They are alleged to have misused government funds by illegally investing Rs.4 billion from the Rs.18.5 billion which was approved by Cabinet in 2012, as allocation for the Kollupitiya Grand Hyatt Regency Hotel.
This was planned to be constructed by a company affiliated to the Sri Lanka Insurance Corporation, in the Hambantota Hyatt Regency Hotel project.
Senarath,Balage and Hapuwinna were banned from travelling abroad by the court. The FCID informed court that in 2012 with Cabinet approval,the Sri Lanka Insurance Corporation, Employees Provident Fund and Litro Gas Company had allocated Rs.18.5 billion for the Kollupitiya Grand Hyatt Regency Hotel. Out of this sum,the suspects had allegedly invested Rs.4 billion for the Hambantota Hyatt Regency Hotel in an illegal manner and misused government funds.
Furthermore, a shortage of funds had been created for the Kollupitiya hotel by allegedly investing it in the Hambantota hotel project.Further magisterial inquiry was fixed for August 10.
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