By Lakmal Sooriyagoda   

The Attorney General yesterday raised preliminary objections challenging the maintainability of the writ petition filed against newly appointed Central Bank Governor Ajith Nivard Cabraal.   

Former Southern Province Governor Rajith Keerthi Thennakoon had filed this writ petition seeking an order preventing former State Minister Cabraal from functioning as the Governor of the Central Bank.   

Additional Solicitor General Nerin Pulle appearing for the Attorney General told Court that the Court of Appeal had no power to hear this case since the appointment for the post of Central Bank Governor had been made by the President. Therefore, he moved Court that this petition be dismissed in limine.   

However, President’s Counsel Maithri Gunaratne appearing for the petitioner submitted to Court that the petitioner’s main concern was regarding the failure on the part of law enforcement authorities to take legal action against Ajith Nivard Cabraal considering evidence available within the Forensic Audit Report.   

The Court of Appeal Justices Sobhitha Rajakaruna and Dhammika Ganepola directed the parties to file written submissions regarding the preliminary objections before October 12.   Through his petitioner, Rajith Keerthi Thennakoon is also seeking a Writ of Mandamus to compel the Attorney General and IGP to take legal action against Ajith Nivard Cabraal considering evidence available within the Forensic Audit Report.   
The petitioner had named Finance Minister Basil Rajapaksa, Central Bank Governor Cabraal, Secretary to the President P. B. Jayasundare, Inspector General of Police, Central Bank Deputy Governor T. M. J. Y. P. Fernando and Attorney General as respondents.   

The petitioner states that according to the forensic report about the review period of (“1 January 2002 to 28 February 2015”) calculated that the Central Bank of Sri Lanka had incurred losses between Rs. 10.4 – 10.6 Billion from 2005 to 2015 to the Sri Lanka Government, whilst Ajith Nivard Cabraal had been the head of the Central Bank.   

The Petitioner further states that whilst Ajith Nivard Cabraal was under so much scrutiny over his actions during his tenure at the CBSL for the period from 2006 to 2015, he being appointed as the Governor of Central Bank, might himself tamper the evidence against him.   The petitioner further said that Cabraal was single-handedly alleged to have made the following damages or losses to the Sri Lankan Republic including the taxpayers’ money.   
1. Entering into the ‘hedging deal’. According to reports, the Sri Lankan Government had reportedly lost over $ 200 million of rupees due to this infamous agreement.   

2. Greek Bond loss incurred, reportedly about 10-Billion of Rupees when Greece headed for economic ruin.   
President’s Counsel Maithri Gunaratne appeared for the petitioner. President’s Counsel Romesh de Silva with Palitha Kumarasiri and Counsel Niran Anketell under the instructions of Attorney-at-law Sanath Wijewardane appeared for the Governor and Deputy Governor of Central Bank. Additional Solicitor General Nerin Pulle appeared for the Attorney General.