CIFL depositors commence hunger strike

CIFL depositors commence hunger strike

Written by Staff Writer

20 Jan, 2014 | 9:09 pm

Depositors of Central Investment and Finance PLC or CIFL commenced a hunger strike opposite the CIFL Head Office in Colombo on Monday demanding that their deposits be reimbursed.

They charge that they have not been paid the interest on their deposits or their deposits, since February last year. These protesters have engaged in various actions on several occasions over the past year, to bring their plight to the attention of the relevant authorities.

As a result of these actions not yielding satisfactory results, the depositors have now resorted to a hunger strike.

Asst. Treasurer of CIFL Depositors’ Association S. Abeyratne expressed this view on the ongoing issue: “We had several rounds of talks with the authorities. But, instead of inquiring into our views, they have taken steps to place 60 percent of the money deposited in the share market.”

They presented a proposal that we cannot accept under any circumstances. In the end we went to court and obtained an injunction against this proposal. The only thing we can do now is to meet with the President. We know that if the President intervenes, we will get a response.”

When Newsfirst made inquiries from the Central Bank of Sri Lanka, CBSL Deputy Governor B.D.W. Ananda Silva said that since legal action initiated by the depositors against the institutions is now in the courts, no steps can be taken. He added that a programme initiated by the Central Bank to rescue the company has also been halted as a result.

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