The second Central Bank bond issuance case filed against ten accused, including former Central Bank Governor  Arjuna Mahendran and former Minister, Ravi Karunanayake was fixed today for October 25 by the Colombo High Court Trial-at-Bar.

The defence today sought further time to peruse the documents on the indictments.

The Trial-at-Bar bench comprising High Court Judges Damith Thotawatta, ManjulaTillekaratne and Mohammed Ishadeen had decided to proceed with this case in the absentia of Arjun Mahendran and Ajahn GardiyePunchihewa.

The Attorney General alleged that the accused could be charged for conspiracy to commit criminal misappropriation in respect 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 had been filed against the accused under Section 56 of the Registered Securities and Exchange Ordinance for conspiracy, criminal misappropriation, cheating and market manipulation in respect of the Bond auctions in March 2016.


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