Magistrate to issue order on 2 November in yet another Treasury bond case

By T. Farook Thajudeen

The Colombo Chief Magistrate Court yesterday postponed the delivery of the order in another Treasury bond case involving Perpetual Treasuries Ltd. (PTL) owner Arjun Aloysius and five others. Accordingly, the order will be delivered on 2 November. 

At the beginning of the inquiry, the CID informed the court that they had already submitted an indictment to the Colombo High Court against the accused.

Counsel Sampath Mendis PC and Counsel Hafeel Fariz, along with Counsels Chameera De Silva and Nissanka Perera, who are representing the suspects, argued that the suspects had already been acquitted by the Supreme Court, Court of Appeal, and High Court on similar charges. Therefore, they contended that the CID cannot sustain this case.

The Counsel moved to terminate the proceedings before the Magistrate Court and to discharge the suspect.

Colombo Chief Magistrate Prasanna Alwis held that he will issue an order on 2 November after perusing the briefs that are in the Supreme Court and other competent courts.

The Supreme Court had already discharged 11 accused including former Central Bank Governor Arjuna Mahendran over the Central Bank bond case allegedly perpetrated in 2016.

The accused had been charged under the Public Property Act with defrauding around Rs. 15 billion during the Treasury bond auction held on 31 March 2016.