The Court of Appeal yesterday vacated the Interim Order issued on the divestiture of the Sri Lankan Government-owned shares in Sri Lanka Telecom PLC.
The Interim Order was earlier issued by Court on April 4 when two Writ applications challenging the proposed divestiture of the Sri Lankan Government-owned 50.23 percent shares in Sri Lanka Telecom PLC and 51.34 percent shares in Lanka Hospitals Corporation PLC.
The petitions were filed by Lyca Mobile SARL, Lyca Leasing Holding Ltd, Pettigo Comercio International LDA and HAIMS International Ltd.
When the petitions were considered before Court of Appeal Judge Mohammed Laffar, Additional Solicitor General Sumathi Dharmawardena appearing for the Deputy Director General and the members of the State Owned Enterprise Restructuring Unit Established under the Finance Ministry, Secretary to the Treasury and the Attorney General raised preliminary objections highlighting several technical errors in the power of attorney and the affidavit submitted is not valid.
Accordingly, the court vacated the said Interim Order on the divestiture of Sri Lanka Telecom PLC and informed the petitioner of this particular petition to submit fresh power of attorney by April 29 and request for an interim order if necessary. However, the Interim Order issued on the divestiture of the shares of Lanka Hospitals Corporation PLC was extended by the court until April 29.
Lahiru Fernando
