JUST IN: Perpetual Treasuries’ fundamental rights petition rejected by Supreme Court

JUST IN: Perpetual Treasuries’ fundamental rights petition rejected by Supreme Court

JUST IN: Perpetual Treasuries’ fundamental rights petition rejected by Supreme Court

Written by Lahiru Fernando

02 Nov, 2017 | 3:30 pm

The Supreme Court has rejected the ‘fundamental rights’ petition filed by Perpetual Treasuries Limited.

What was the petition for?

PTL’s  commercial licence to operate as a Primary Dealer of Central Bank was suspended for 6 months.

Arjun Aloysius filed in the petition, requesting that this decision taken by the Central Bank Monetary Board on July 6 be nullified.

The Attorney General’s objections were considered by the the Supreme Court bench, who then rejected the petition.

The bench consisted of:

  • Chief Justice Priyasath Dep
  • Chief Justice Buwaneka Aluwihare
  • Chief Justice Nalin perera

“There is no legal right for perpetual treasuries limited to file such a fundamental rights petition”, said the Attorney General’s Department.

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