With the release of Arjun Mahendran and others on 11 charges in the bond case, it is learned that this case will be fruitless.
The Central Bank of Sri Lanka issued Treasury bonds on March 31, 2016 on 22 counts under the Monetary Act and the Securities Act, informing the State Banks Bank of Ceylon, People’s Bank and National Savings Bank not to bid for the same. The Attorney General had filed 22 charges against the accused for causing a loss of Rs.200 million to the banks and the three-judge panel had decided to acquit the accused on 11 of those charges.
Gamini Marapana, PC, had earlier objected to the naming of Purchasing Treasuries as a defendant in the case and the suspension of the accounts and assets of the defendants. Additional Solicitor General Priyantha Navana told the court on the day of the verdict that he would use the court order to inform the court whether the indictment against the accused would be withdrawn or a revised indictment would be filed. Accordingly, he has requested that the case be adjourned to another date. President’s Counsel Shravendra Silva, appearing for the accused, has stated that the case could not be continued with this verdict.
He further stated that since the first charge in this case was related to conspiracy, the panel had accepted that the charge could not be continued and since the charge had been dropped, all other charges could not be pursued as they were also linked to this charge.
The case was heard before a panel of judges comprising Amal Ranaraja, Namal Balalle and Aditya Patabendi on the 6th and the case will be taken up again on the 26th of January.