Sena Yaddehige charged with insider dealing by Sri Lanka regulator

ECONOMYNEXT – Sena Yaddehige, Chairman of publicly listed Sri Lanka based group Richard Pieris Plc, has been charged with insider dealing on stock of Kegalle Plantations Plc, another listed subsidiary of the group.

Sri Lanka’s Securities and Exchange Commission said he bought Kegalle Plantations stock on July 10, 2015 just before a 45 rupee dividend was declared.

Subramanium Thinamany, another official was also charged with aiding and abetting Yaddehige.

SEC said it filed action at Fort Magistrate’s Court and Yaddehige was asked to appear on March 28.

On March 21, 2019 Yaddehige had sought a writ as interim relief from the Court of Appeal seeking to halt the proceeding at the Magistrate’s Court.

Court of Appeal had not granted interim relief. (Colombo/Mar31/2019)
 

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