ETI Inquiry Report to be sent to AG to institute legal action

ETI Inquiry Report to be sent to AG to institute legal action

ETI Inquiry Report to be sent to AG to institute legal action

Written by Zulfick Farzan

13 Oct, 2020 | 11:16 am

Colombo (News 1st); The Cabinet of Ministers decided to direct the report of the inquiring committee appointed to investigate alleged irregularities at Edirisinghe Trust Investments or ETI, to the Attorney General to enforce the recommendations and to institute necessary legal action.

Joint-Cabinet Spokesperson & Minister Keheliya Rambukwella speaking to reporters on Tuesday (13) said the committee had pointed out multiple offenses were committed in violation of the Companies Act, Finance Business Act, Prevention of Money Laundering Act, Financial Transactions Reporting Act, Provisions relating to Acquisition of Land in Sri Lanka by Foreigners and the Penal Code of Sri Lanka.

Further, the Committee had recommended to completely restructure the Department of Supervision of Non-Bank Financial Institutions of the Central Bank of Sri Lanka.

The report had added multiple irregularities were committed by the Department of Supervision of Non-Bank Financial Institutions as well, and the Cabinet had decided to take immediate action with respect to the recommendations of the ETI Inquiry Committee.

Retired Supreme Court Judge K.T. Chitrasiri chaired the three-member committee. The other members were retired Solicitor General Suhada Gamlath and Senior Banker D.M. Gunasekara.

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