PCoI on ETI Finance commences operations

Colombo (News 1st) - The 03-member Presidential Commission appointed to investigate ETI Finance met for the first time today. Retired Supreme Court Judge KT Chitrasiri is the Chairperson of the Presidential Commission which also comprises of Retired Solicitor General Suhanda Gamlath and Senior Banker D.M. Gunasekera. Delivering the opening statement, Additional Solicitor General President's Counsel Priyantha Nawana appearing for the Attorney General's Department said the objective of the Presidential Commission is to inquire into all offenses, irregularities, and malpractices alleged to have taken place at the ETI Finance. Priyantha Nawana informed the Presidential Commission of Inquiry, evidence would be recorded to ascertain the reasons for the collapse of ETI and if its assets were disposed in a proper manner thereafter. He added that the Central Bank Regulation would also be looked in to. Additional Solicitor General President's Counsel Priyantha Nawana requested the Presidential Commission to summon the Registrar of Companies as the first witness, in order to uncover the nature of incorporation of ETI. Attorney-at-Law Shavendra Fernando appearing for BEN Holdings, which procured the assets of ETI requested permission from the Presidential Commission to present fact. Interestingly, there was no appearance on behalf of ETI and further examination of evidence was fixed for the 23rd of March.