Mahendran and Punchihewa to be tried in absentia.

July 20, 2021

Former Minister Ravi Karunanayake and seven others were today ordered to be present before Colombo High Court Trial-at-Bar in connection with the second Central Bank bond issue that took place on March 29, 2016. However, former CB Governor LakshmanArjuna Mahendran and Ajahn GardiyePunchihewa were not present in Court. The Attorney General alleged that the accused could be charged, for conspiracy to commit criminal misappropriation of treasury bonds to the face value of Rs.36.98 billion and 15 billion respectively in March 2016. The Attorney General had filed indictments against ten accused, including Ravi Karunanayake, former Central Bank Governor Lakshman Arjuna Mahendran, PTL beneficiaries owner Arjun Joseph Aloysius, Palisena Appuhamilage Don Kasun OshadaPalisena and, Badugoda Hewa Indika SamanKumara. Indictments were filed against the accused under Section 56 of the Registered Securities and Exchange Ordinance for conspiracy, criminal misappropriation, cheating and market manipulation of the Bond auctions in March 2016.

Mahendran and Punchihewa to be tried in absentia.

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