Saturday Dec 28, 2024
Saturday Dec 28, 2024
Wednesday, 27 November 2024 00:28 - - {{hitsCtrl.values.hits}}
The Colombo Magistrate’s Court has issued a notice summoning Central Bank of Sri Lanka (CBSL), former Governor Arjuna Mahendran, to appear before the court on 25 February 2025. The case, filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), pertains to the 2015 controversial bond issue, which allegedly caused a loss of over Rs. 10 billion to the Sri Lankan Government.
The order was issued yesterday by Colombo Chief Magistrate Thilina Gamage following a request from the CIABOC.
In 2015, a Presidential Commission of Inquiry found that Mahendran had interfered in a bond auction and leaked insider information to benefit Perpetual Treasuries Ltd., a company owned by his son-in-law, Arjun Aloysius. The investigation revealed that Perpetual Treasuries had made billions of rupees in profits due to this information.
Despite the findings, Mahendran, a Singaporean citizen, failed to appear before the courts after leaving Sri Lanka under the pretext of attending a wedding in 2016. It is believed he continues to reside in Singapore. In response, the Colombo Permanent Trial-at-Bar issued an international warrant for his arrest through Interpol.
Efforts to extradite Mahendran however have faced significant challenges. Foreign Minister Vijitha Herath recently said the Government, under President Anura Kumara Dissanayake, is determined to take action against those involved in the Treasury bond scam. Herath cited findings from both the Parliamentary Select Committee and the Presidential Commission of Inquiry as a basis for renewed efforts to bring Mahendran to justice.
Herath also pointed out that Mahendran left Sri Lanka before the Presidential Commission report could be handed over to the President, and that previous extradition requests to Singapore had been ignored. However, he assured the public that the Government is committed to pursuing justice and securing Mahendran’s extradition to face legal proceedings.
