Revoking license reissued to W. M. Mendis and Co. to repay due taxes Govt. cannot justify a company involved in bond scam to restart operations

By Kurulu Koojana Kariyakarawana   

Clarifying its stance on revoking the reissued liquor manufacturing license to W. M. Mendis & Co., the government said that they cannot justify letting a company, whose owners are involved in the infamous bond scam allegations to restart its operations.   

Co-Cabinet Spokesperson Ramesh Pathirana said on Tuesday that it was a unanimous decision taken by the Cabinet to revoke the license reissued to the company last week on the instructions given to Excise Commissioner General by the Secretary to the Ministry of Finance.   

Minister Pathirana responding to a query by a journalist at the media briefing to announce Cabinet decisions said although the license was reissued to W. M. Mendis & Co., to restart their production in a bid for them to repay the due taxes to the government, the Cabinet itself has decided the said action could not be ‘justified’, as the company was part of the conglomerate owned by chief suspects of the ‘infamous’ Central Bank bond scam.   

On the instructions of the President, the Cabinet of Ministers on Monday (05) decided to cancel the license issued to W. M. Mendis & Co. Ltd., owned by Arjun Aloysius, to produce alcohol and recommence operations.   
Earlier, the Excise Department granted liquor manufacturer W. M. Mendis & Co. Ltd. to resume operations after it agreed to settle all of its tax arrears.   

The said action could not be ‘justified’, as the company was part of the conglomerate owned by chief suspects of the ‘infamous’ Central Bank bond scam

It was earlier reported that W. M. Mendis & Co. Ltd. owned by Arjun Aloysius who is one of the main accused in the infamous Central Bank Treasury Bond Scam, had agreed to settle its tax areas in installments and to pay scheduled taxes every 15 days.