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Attorney+General+takes+PTL+to+courts+to+recover+losses+to+public+institutions
Thursday, 05 July 2018 - 9:57
Attorney General takes PTL to courts to recover losses to public institutions
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It was revealed at the Court of Appeal that five state institutions have incurred losses amounting to Rs. 8.5 billion owing to the unlawful gains made by Perpetual Treasuries Limited through two Central Bank bond auctions.
 
Additional Solicitor General Yasantha Kodagoda disclosed that the Attorney General has filed five civil cases against the PTL at the District Court in order to recover the losses.
 
The ASG Kodagoda disclosed this yesterday (Jul 04), making the submission when a revision petition filed by the owner of the PTL0 Arjun Aloysius and its CEO Kasun Palisena was taken up at the Court of Appeal.
 
The petition was considered before the President of the Court of Appeal, Justice Preethi Padman Surasena and Justice Shiran Gooneratne.
 
ASG Kodagoda making submissions on behalf of the AG noted that according to two judicial precedents, it was not possible to continue the petition, and no specific reasons have been produced to consider the bail application.
 
He added that what could be done, by considering the revision petition is that the High Court order could be cancelled and the petition could be directed to the High Court.
 
The ASG concluded his submissions and the Court of Appeal bench then postponed the hearing to 18th of July.
 
The petitioners in their appeal to the Court of Appeal stated that the Colombo Fort Magistrate has refused bail under the Public Property Act.
 
The Attorney General and the OIC of the FCID have been named as the respondent for this petition.
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