Overseas travel ban on Ravi,11 others | Daily News


Overseas travel ban on Ravi,11 others

Colombo Fort Magistrate Ranga Dissanayake yesterday issued a travel ban on 12 suspects including former Finance Minister Ravi Karunanayake, former Central Bank Governor Arjun Mahendran, Perpetual Treasuries beneficiary owner Arjun Aloysius and CEO Kasun Palisena in connection with the Central Bank Bond scam.

The suspects are Perpetual Treasuries Limited, Ravindra Karunanayake, Lakshman Arjuna Mahendran, Arjun Joseph Aloysius, Palisena Appuhamilage Don Kasun Oshada Palisena, Geoffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa, Thuyya Handiyage Buddhika Sarathchandra, Sangarapillai Pathumanapan, Badugoda Hewa Indika Saman Kumara.

Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiya Punchihewa, Buddika Sarathchandra and Indika Saman Kumara as suspects on the charges of conspiracy, criminal misappropriation, cheating and market manipulation in respect of the Bond auctions between February-March 2015.

When the matter was taken up for inquiry, Senior Deputy Solicitor General Haripriya Jayasundara appearing on behalf of the Criminal Investigations Department told court that the investigations had been initiated following the former Central Bank Governor in 2016, Indrajit Coomaraswamy, as well as reports containing probes conducted by Presidential Commission of Inquiry into the issuances of Central Bank Treasury Bonds from February 1, 2015 up to March 31 the following year.

The Magistrate observed that the suspects have comitted a conizable offense.The Magistrate inquired as to why they asked to issue a warrant? The Police can arrest the suspects with out a warrant.

“According to the evidence submitted before the Presidential Commission, it had been revealed that the former Central Bank Governor Arjun Mahendran had asked one of the Central Bank officers to hold the repurchasing of the treasuries to the Central Bank at that time. When Ravi Karunanayake was serving as the Finance Minister, he had a meeting with three leading state bank officials and at this meeting Ravi Karunanayake had told the bank officials to maintain a certain limit when issuing Treasury Bonds. According to this decision the banks had to decrease the limit of issuing Treasury Bonds when having auctions and it had effected the market price within this period in a bad manner,” SDSG Haripriya Jayasundara pointed out.

Chief Women Police Inspector of Criminal Investigations Department Darmalath Sanjeewani Kappetige also gave evidence before the Magistrate.

President Counsel Reinzie Arsekularathne appearing on behalf of Ravi Karunanayake asked to make submissions on behalf of his client. Somehow, the Magistrate rejected the the request made by the defense.

After taking the facts into consideration, the Magistrate stated that he will announce the order whether he will issue warrant to arrest the suspects or not on March 6.

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