Ravi , Mahendran et al discharged from CB bond case related to auction held on March 29, 2016

By A.J.A Abeynayaka

Colombo High Court Trial-at-Bar yesterday released former Finance Minister Ravi Karunanayke, former Central Bank Governor Arjuna Mahendran and nine others from 13 charges in connection with the Central Bank bond auction held on 29 March 2016.

The Trial-at-Bar bench by a majority decision decided that the charges filed under the Public Property Act by the Attorney General could not be maintained.

High Court Trial-at-Bar bench comprised High Court Judges Damith Thotawatte (Chairman) Manjula Thilakaratne and M. Izzadeen.

Judges Thotawatte and Thilakaratne maintained that the charges filed under the Public Property Act by the Attorney General could not be maintained. Judge Izzadeen stated that the charges could be maintained.

Among those released are former Finance Minister Ravi Karunanayake, former Central Bank Governor Lakshman Arjuna Mahendran, (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa and Badugoda Hewa Indika Saman Kumara.

Senior State Counsel, Lakmini Girihagama, representing the AG, asked the court for time to change the charge sheet against the defendants. However, attorney Shavendra Fernando, PC, representing the former Finance Minister opposed the request stating that the AG could not change the charges.

The Attorney General had filed indictments against the suspects for conspiracy to commit criminal misappropriation in respect of treasury bonds to the face value of Rs.36.98 billion on 29 March 2016.