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Arjuna+Mahendran+calls+for+a+separate+investigation+into+Ravi+K%E2%80%99s+instructions
Friday, 06 October 2017 - 19:06
Arjuna Mahendran calls for a separate investigation into Ravi K’s instructions
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Former Central Bank Governor Arjuna Mahendran told the Bond Commission today (06), that he found out about the instructions given by former Finance Minister Ravi Karunanayake to the heads of state banks from newspapers.

However, the State Counsel noted that Arjuna Mahendran cannot be exempted from responsibility, as he was serving as the Central Bank Governor when the incident occurred.

The State Counsel further stated that as a result of the instructions given to the state banks by former Finance Minister Ravi Karunanayke to place low biddings, Perpetual Treasuries Ltd. was able to gain sole ownership of the Treasury bond issuance.

At this instance, Arjuna Mahendran stated that if such an incident had occurred, an independent investigation should be launched to probe into the matter.

The State Counsel, meanwhile pointed out that according to the Monetary Law Act, the Minister in charge of the subject cannot dispense instructions to the Central Bank, to which former Central Bank Governor Arjuna Mahendran stated that he will present an answer after a thorough analysis of the incident.  

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