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Saturday May 15th, 2021
Legal

Sri Lanka top court dismisses Treasury bond case

COLOMBO (EconomyNext) –  Supreme Court has refused leave to proceed with a fundamental rights petition brought by public interest activists over a controversial bond auction where the son-in-law of  Sri Lanka’s Central Bank Governor was the key beneficiary, legal sources said.

The activists asked for an independent probe "by a competent panel of professionals well versed in the rules, systems, procedures and processes applicable to the public debt management" under court supervision.

A three-member committee appointed by Prime Minister Ranil Wickremasinghe has recommended further investigations to find out how the controversial bond auction was conducted, saying Governor Arjuna Mahendran was not directly involved.

The full report is yet to be presented to parliament as promised.

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