Aloysius and Palisena further remanded

• CID to act on Attorney General’s instruction to give Arjun Mahendran notice to appear before court

Perpetual Treasuries Limited (PTL) owner Arjun Aloysius and CEO Kasun Palisena were re-remanded till February 16 by Fort Magistrate Court yesterday. 

They were arrested by the Criminal Investigations Department (CID) on 4 February, charged under the state property act in connection with the Central Bank Bond scam investigation. The individuals, along with former Central Bank chief and Aloysius’ father-in-law Arjun Mahendran, were named as key suspects in the case on 2 February. Aloysius and Palisena were arrested on 4 February and were remanded when produced before Fort Magistrate the same day. Mahendran, who is now in Singapore, has been ordered to present himself to police before February 15 to respond to charges. On 2 February, the Police was tasked with delivering the court notice to Mahendran’s Singapore home. 

“We will have to consult the Attorney General on how to execute that order. We may work through the Foreign Ministry or work with Singapore counterparts to work around it,” sources within the CID told the Daily FT. 

If Mahendran fails to appear as ordered, the CID will then enlist the support of Interpol to take him into custody, sources said. 

The report on the Presidential Commission on bond issuance accused ex-CB Governor Mahendran and his son-in-law of malpractices on the bond issuance in 2015 and recommended the State recover its losses from the accused. The report has been forwarded to the Attorney General’s Department and CID for further action.