CIFL depositors protest

21 January 2014 03:55 am Views - 3384

The distressed depositors of Central Investments & Finance PLC (CIFL) yesterday staged a protest in front of the CIFL head office in Dharmapala Mawatha, demanding their moneys back.

By March 31, 2012, the company’s total assets amounted to Rs.3.6 billion, out of which, its deposit liabilities amounted to Rs.2.6 billion. The company ran into financial difficulties in early 2013 and subsequently, the restructuring plan brought forward by the Central Bank with the support of People’s Leasing & Finance PLC was rejected by the depositors. The matter is currently before the Court of Appeal. Pic by Samantha Perera