The Court of Appeal yesterday dismissed the revision application filed by Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius and its Chief Executive Officer Kasun Palisena who sought an Interim Order to release them on bail.
Court of Appeal (President) Preethi Padman Surasena and Justice Shiran Goonaratne decided to refuse the application in limine citing that two petitioners (suspects in magisterial inquiry) failed to provide any reasonable ground to invoke Court of Appeal’s revision jurisdiction. Accordingly, Court of Appeal refused to issue notices on respondents and dismissed the petition without cost. The Court of Appeal observed that it is premature to seek revision jurisdiction at this moment since the petitioners have not been indicted in courts by the Attorney General while the CID is beingconducting investigations into the matter.
The two suspects were remanded in connection with the Central Bank Bond issuance in 2015.
In his revision application, Arjun Aloysius states 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.
President’s Counsel Gamini Marapana with Counsel Navin Marapana appeared for Arjun Aloysius. Senior Additional Solicitor General Yasantha Kodagoda PC with State Counsel Udara Karunaratne appeared for the Attorney General.
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