Public Debt Dept Former Superintendent gives evidence: Arjuna Mahendran provides statement

Public Debt Dept Former Superintendent gives evidence: Arjuna Mahendran provides statement

Written by Keshala Dias

14 Mar, 2017 | 8:27 pm

Former Superintendent of the Public Debt Department Dhammika Nanayakkara provided evidence before the Presidential Commission of Inquiry to Investigate and Inquire into the Issuance of Treasury Bonds, once again today, March 14.

Deputy Solicitor General Milinda Gunetilleke led the evidence before the Commission.

It was revealed at the Commission that during the tenure of former Superintendent of the Public Debt Department Dhammika Nanayakkara, there were four primary dealers  – and one of them was Perpetual Treasuries Private Limited.

It was also revealed that Ceylinco Shriram Securities Ltd was taken over by the Management of Entrust Securities PLC.

Dhammika Nanayakkara informed the Commission that on October 17, 2012, he received a letter from Union Bank expressing confidence in the financial strength of the group of companies of which Perpetual Treasuries Limited is a part of.

It was further revealed that although Arjun Aloysius resigned as Director of Perpetual Treasuries, he was a shareholder of Perpetual Capital Holdings.

When asked if a member of the Monetary Board having close relationships with a Director of Primary Dealer was unethical, the Former Superintendent of the Public Debt Department revealed that had he known of such a relationship, he would have taken it up with his top management.

Dhammika Nanayakkara is to appear before the Commission tomorrow, March 15, as well.

Meanwhile, former Governor of the Central Bank of Sri Lanka Arjuna Mahendran appeared before the detectives assisting the Presidential Commission of Inquiry to Investigate and Inquire into the Issuance of Treasury Bonds, to provide a statement for the third day.

A statement was recorded from Arjuna Mahendran for almost six hours by the detectives.

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