Bond scam case reset for 22 July over trial-at-bar issue | Daily FT

The Colombo High Court last week ordered that the case filed against 11 defendants, including former Central Bank of Sri Lanka (CBSL) Governor Arjuna Mahendran and former Finance Minister Ravi Karunanayake over the CBSL Bond scam, be called again on 22 July after noting that the…

The Colombo High Court last week ordered that the case filed against 11 defendants, including former Central Bank of Sri Lanka (CBSL) Governor Arjuna Mahendran and former Finance Minister Ravi Karunanayake over the CBSL Bond scam, be called again on 22 July after noting that the trial-at-bar bench had not been properly constituted. The case was taken up before Colombo High Court Judge Manjula Thilakaratne, who informed open court that the trial-at-bar hearing the matter had not been validly constituted. Accordingly, the court directed that the case be recalled on 22 July for further proceedings. The Attorney General has instituted proceedings under the Public Property Act against 11 defendants, including Mahendran, Karunanayake, Perpetual Treasuries Ltd., and its Directors Arjun Aloysius and Geoffrey Aloysius. The defendants face charges relating to alleged irregularities connected to the CBSL Treasury Bond auction held in March 2016.