Perpetual Treasuries suspension extended by further 6 months

The Monetary Board of the Central Bank for the second time extended the suspension on the controversial bond dealer Perpetual Treasuries from six months with effect from yesterday. 

“The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a primary dealer for a period of six months with effect from 05th July 2018, in order to continue the investigations being conducted by the Central Bank of Sri Lanka,” the Central Bank said.

The suspension on Perpetual Treasuries was first implemented on July 6, 2017 for a period of six months and then was extended by another six months on January 06, 2018.

A Presidential Commission of Inquiry, which probed the rigged bond auctions that benefitted Perpetual Treasuries, has recommended criminal action against those involved and profits to be recovered.

Perpetual Treasuries owner Arjun Aloysius and its Chief Executive Officer are currently in remand prison and former Central Bank Governor Arjun Mahendran, who happens to be the father-in-law of Aloysius is absconding court and has a red notice for his arrest.