Five civil suits against PTL claiming Rs. 8.5 billion: ASG Kodagoda

4 July 2018 09:01 pm Views - 7241

During the submissions made by Additional Solicitor General Yasantha Kodagoda over the revision bail application filed by Arjun Aloysius and Kasun Palisena, it was revealed that the Attorney General had so far filed five civil cases in the District Court on behalf of five state institutes against Perpetual Treasuries Ltd (PTL).

These civil cases were on behalf of Employees Provident Fund, Employees Trust Fund, National Savings Bank, Insurance Corporation of Sri Lanka and the Pension Fund of the University Grants Commission.

The state in these lawsuits claimed a total of Rs. 8.5 billion from Perpetual Treasuries Ltd with regard to the unlawful profits gained by PTL in the Treasury Bond transactions which resulted in incurring huge losses to the above five entities. (Shehan Chamika Silva)