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Wednesday, 16 August 2017 - 19:40
Bond commission orders Perpetual Treasuries to reveal profit details
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The Presidential Commission of Inquiry, probing the Central Bank bond scam informed Perpetual Treasuries Limited that it should inform the Commission as to what had happened to its profit of 712 million rupees.

Perpetual Treasuries was ordered to divulge information related to its profits in the next hearing day.

Testifying before the Commission, Perpetual Treasuries CEO, Kasun Palisena stated that the parent company of Perpetual Treasuries is Perpetual Capital and it is owned by Arjun Aloysius and his great grandfather Jeffry Aloysius.

Palisena also said that Perpetual Treasuries has earned profits of 712 million rupees in 2014 and 2015.

Then, Supreme Court Judge Prasanna Jayawardena questioned him what has happened to its profits.

When the witness said he do not know, the Judge reiterated that the witness will be held responsible to make the information available to the Commission.

The Commission had also informed the witness to submit the information of the recording system of the Bond issue room of Perpetual Treasuries, to the Commission.

Our reporter said the information was not submitted today and, Senior Additional Solicitor General and President Counsel Dappula de Livera cross-examined the witness in an aggressive manner in that regard.

The witness had also responded in the same manner.

At that juncture, the Judge also intervened in the cross examination and reminded the witness that providing false information could lead to a jail sentence.

He also said the information given by the witness will be verified with the company, which sold the system to Perpetual Treasuries.

The lawyers of Perpetual Treasuries further informed the Commission that they need more time to provide details of one of its subsidiaries, W.M. Mendis Ltd.

The Commission rejected their request and stated that a decision will be taken if the details are not provided during the course of the day.

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