Controversial Lyca Group owner Subaskaran arrives in Sri Lanka

20 August 2023 11:37 am Views - {{hitsCtrl.values.hits}} 34 Bookmark

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Controversial British-Sri Lankan tycoon Allirajah Subaskaran, the owner of Lyca Group, arrived in Sri Lanka yesterday.

His arrival follows Minister Bandula Gunawardene's announcement last week that Channel Eye had been leased out to Lyca Mobile Group on a short-term agreement.

Subaskaran, who is the founder and chairman of the UK-based Lyca Group, has been expanding the group's businesses in the South Asian region, particularly in India and Sri Lanka. In 2021, he acquired the Jaffna franchise of the Lanka Premier League and has been an influential stakeholder in the league since then.

Minister of Mass Media Bandula Gunawardena earlier said that Channel Eye was leased out to Lyca Mobile Group on a short-term agreement, refuting claims that the Cabinet Paper regarding this matter had been rejected. He said during a Cabinet briefing that the decision to lease out the financially struggling Channel Eye was made by the Director Board with his approval as the subject minister.

The Minister further explained that only the airtime of the Channel has been leased out to Lyca Mobile Group for the purpose of broadcasting sports events, with a monthly payment of Rs. 25 million.

Comments - 34

Dakuneyaka Sunday, 20 August 2023 12:01 PM

Is it not the very same person who tried to take over Rupavahini some time earlier

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Sakya Sunday, 20 August 2023 12:14 PM

He is not controversial by any means but a very much a leading entrepreneur with roots in Sri Lanka. His business conglomerate with many leading establishments under his belt spread all over the developed countries. The high-end Lycamobile the cellular business is in more than sixty countries in the west and also in Australia providing an affordable service to everyone. Whatever he is Sri Lanka's pride unfortunately he is looked down upon by many for reasons better known to them

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Vernon Sunday, 20 August 2023 12:24 PM

Why can't our patriotic leaders like Wimal or channa Jayasumana make a complain to CID and arrest this person

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DJ Sunday, 20 August 2023 12:55 PM

He is willing to take over Channel Eye 'though it's been struggling in the past. He believed that he can make a change and profitable. Now who are gonna take over our politicians' jobs?...that's the only way we can make a change in this country.

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A Sunday, 20 August 2023 01:52 PM

What is wrong give these places and make more money...

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Saman Sunday, 20 August 2023 03:40 PM

What is a the use of maintaining ministers spending millions, if they sell or lease our properties rather than making them for the use of citizen. BTW, Lica is also looking for Sri Lanka Telecom. Who known that this man has come to ink this transaction.

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s paul Sunday, 20 August 2023 03:11 PM

Tamil doing well and investing, that is problem to the racist, if sinhala it would be great achievement.

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Sam Sunday, 20 August 2023 03:16 PM

Why not check his and ministers background and then do the talking. This will help the ordinary Sri Lankan's.

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Jaffna Tamil Lawyer Practicing in Britain Sunday, 20 August 2023 03:37 PM

America, Britain, and Australia are the only countries where the upper class Sri Lankan Tamils have made their homes. In none of these countries no such cultured Tamils have the financial strength to call themselves as millionaires. But this guy who owns the Lyca Mobile has neither the class nor proper education, yet from a very humble beginning he has “mysteriously” amassed so much wealth and has become one of the richest men in Britain. There are important questions that need answers.

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Mahila Tuesday, 22 August 2023 12:40 AM

"But this guy who owns the Lyca Mobile has NEITHER THE CLASS NOR PROPER EDUCATION!" As if you didn't know, most times Education and Money and wealth doesn't go hand in hand!!!??? Many a Millionaire aren't necessarily well educated but definitely excel in Entrepreneurship! Subaskaran has good, solid Primary and Secondary education, though not in either, ‘HIGH CLASS’ or even a “Panankottai” Jaffna Schools, but outside the Northern Province!!??

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Mahila Tuesday, 22 August 2023 01:02 AM

“In none of these countries no such CULTURED Tamils have the financial strength to call themselves as millionaires!!!” What do you mean CULTURED!!???? CASTE???? That MAY BE!!!??? Instead, they have in good measure, ENTREPRENEURSHIP AND/OR BUSINESS PRUDENCE!!!?? That’s what ‘maketh’ successful and Leading Businessman, not Caste, Culture even Education!? Many are the examples – KG, Anthony’s, et all!!!??? No Mystery INVOLVED??

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zoomer Monday, 21 August 2023 01:19 AM

lyca already owns Swarnawahini if the guy wants to invest as long as its coming from proper channels and vetted... whats the fuss?

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wickrama wijayasiri Monday, 21 August 2023 01:24 AM

He is also known to be a LTTE backer and financier. He also has not paid millions of BP in taxes and has many legal issues arising from it. RW is seeking his patronage for his election bid for presidency. (not re-election). Seeking to purchase SLT at a bargain basement price.

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Mahila Tuesday, 22 August 2023 04:44 AM

"He also has NOT PAID MILLIONS OF BP IN TAXES and has many legal issues ARISING from it." So what?? There are many more in SL without paying taxes and facing legal issues!!! That cannot be a burden on the Entity anyway???

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City Monday, 21 August 2023 05:49 AM

Controversial Businessman label suits for how many SL Businessman? Y only for one person...

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Sam C Monday, 21 August 2023 07:56 AM

Give him a stake in Sri Lankan airlines too to make it profitable!

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Bull Dog Monday, 21 August 2023 08:18 AM

We don't know what the percentage is for BG ?

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S.Siva Monday, 21 August 2023 08:30 AM

Money helps. I do not want to use the words money talks. He is coming in to help a failing venture and putting his money. It's much better than many others who still want to exploit others with their moth and bloodline connections and when they fail play if not anything else the raciel card. If he does not have a duel citizenship give him one before you get his money to fix a failing venture

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Manjula De Alwis [Attotney-at-Law] Monday, 21 August 2023 08:42 AM

First, they will come on short term contract later it will be the camel putting his head inside and thereafter put the entire body in to the tent. Bandula might get a good commission on this deal.

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K.A. Janz - Journalist Monday, 21 August 2023 08:45 AM

All the Ministers in this cabinet are rouges going after commission, Bandula is not exemptional. Channel Eye will be taken over 100% by Lyca Group India.

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M.H.M. Mohamed Anwer Monday, 21 August 2023 08:47 AM

Lyca will now start with Channel Eye and later inherit Rupawahini too. Wait and see... by then Bandula is no more the minister.

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Dhananjaya Monday, 21 August 2023 09:12 AM

We Sinhalese should learn from Tamils to work harder and efficiently rather than merely blaming Tamil entrepreneurs.

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S.Sivs Monday, 21 August 2023 11:01 AM

It's not about Sinhalese learning from Tamils or any other race. It's about doing an intelligent honest job and having an atmosphere where anyone can start a business and become a Millionaire or a Billionaire without visiting any politician . US ,Canada, all of Europe Australia and New Zealand are examples of such countries after someone becomes a Millionaire without seeing a politician the politicians visit them and offer more business opportunities and get this right Government money for them to expand their business. Compare it with the politicians controlling Sri Lanka where even Tsunami aid attracted bribes.

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Enlightened Monday, 21 August 2023 11:30 AM

Totally agree 100%

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sundar Monday, 21 August 2023 10:09 AM

This Jaffna Tamil Lawyers problem seems to be one of caste, of people of his caste not doing well. Jaffna Tamil you are contradicting yourself. While saying there is no Tamil millionaire, you accept Subhaskaran is a millionaire. May be not of your caste.

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Gamini Monday, 21 August 2023 10:09 AM

What is "controversial: about him. Is it his race?

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Nuwan Monday, 21 August 2023 10:40 AM

If i were him, I will not invest in this small market unless I have other ambitions like making it to politics. Why? because country is still failing to make laws friendly to investors.

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Manoj Monday, 21 August 2023 12:19 PM

He is controversial since he's involved in money laundering in several European countries and in fact he's banned from visiting few of these places.

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Buddhist Monday, 21 August 2023 04:57 PM

Lyca has been raided all over Europe for money laundering.

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Reza Monday, 21 August 2023 06:21 PM

He has climbed his ladder of life. He is (Lyca) main producer for block Buster Tamil leading movies. There was a rumor that Rajapakses stolen money from the country secretly invested on those above movies..He is not controversial but teh Rajapakse family

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VJ Monday, 21 August 2023 08:36 PM

It is quite possible he is laundering someone’s money. Whose money he has been laundering would be a good question. Some time ago a Tamil movie financed by LYCA met with some protest sighting reasons that the money LYCA used to finance the movie belonged to a leading political figure in Sri Lanka.

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S Paul Tuesday, 22 August 2023 02:17 AM

Reply to Wicrama LTTE war over in 2009, to some small brains Tamil means LTTE. Try to grow up, in developed countries it is only on merit that people are given a place. In paradise island we are not like that. That is why we are begging from everywhere.

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Commission for me? Tuesday, 22 August 2023 09:51 AM

I see two questions looming. Why do almost all comments are unanimously favorable to this man, as we have never seen? 2. When did Bandhula become a deal maker from his tuition master job? Is this like "Let any one's wife elope with any other, as long as there is commission for me???

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ANNECUNT Thursday, 24 August 2023 01:28 PM

let him be a minister in sri-lanka to get rid of corruption

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