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Sri Lanka Equity Forum » Stock Market Talk » TBs worth Rs.14.2 bn issued to SriLankan in 2012

TBs worth Rs.14.2 bn issued to SriLankan in 2012

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Miss-Sangeetha

Miss-Sangeetha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Rs.14.2 billion worth of Treasury Bonds (TBs) were issued to SriLankan airlines by the Central Bank (CB) in 2012 without a Gazette notification as required by the Registered Stock and Security Ordinance (RSSO), CB Governor Indrajit Coomaraswamy today told the Commission of Inquiry into financial irregularities in SriLankan airlines.

He said this when Additional Solicitor General Neil Unamboowe PC asked about the particular clause in the Ordinance which directs that a gazette be issued for such a purpose.

Dr. Coomaraswamy said according to Article 4 (1) the Finance Minister should issue a gazette notification in respect of each loan issued under the RSSO.

He said the Ordinance specifies the mode of issuing a gazette notification when issuing registered stock, securities in the form of government promissory notes, the issue of securities in the form of bearer bonds and the issue of securities in the form of treasury bonds.

When ASG Unamboowe asked him how the then Finance Minister and the then Civil Aviation Minister had said about ‘issuing Treasury Bonds’ to SriLankan airlines, Dr. Coomaraswamy said the two ministers had not mentioned anything about Treasury Bonds either in a Cabinet Paper or in the 2012 budget speech.

He said the RSSO is now outdated and the CB is in the process of amending the Ordinance. Dr. Coomaraswamy said that the findings of the Commission would be beneficial to the CB since the amendment of the RSSO had been already started. 

ASG Neil Unamboowe together with State Counsel Sajith Bandara led the evidence. (Yoshitha Perera)

Source-

http://www.dailymirror.lk/article/TBs-worth-Rs-bn-issued-to-SriLankan-in--158497.html

Miss-Sangeetha

Miss-Sangeetha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Former Central Bank Governor Mr. Nivard Ajith Leslie Cabraal the brainy Child who initiated the high profile achievement in year 2012 for the sake of Mother Sri Lanka name Alibaba & Forty  before the Alosis or Arjuna Mahendran who followed him without proper skill in this high profile job, fallen on the trap and caught red handed  

Ryan Hudson


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The problem is that the people who came to power saying they would stop this has done 100 times more robbery than alibaba, also note this is another ranil media, these days ranils media group heavily attcking violating all basic media ethics, the desperation has brought true nature of everybody and I love that

I have noted even people who were showing like impartial have started to show true color, and see the western embassies my gosh shameless, they were like not in this world when the ranil and bond scam clan were postponing elections and doing all the damage to democracy now all come out for democracy

My request to USA and gang is if you have real concern about strategic locartion of sri lanka just say it and grab a piece without destabilizing the country with karu maya and ranna ponil

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Ryan Hudson wrote:The problem is that the people who came to power saying they would stop this has done 100 times more robbery than alibaba, also note this is another ranil media, these days ranils media group heavily attcking violating all basic media ethics, the desperation has brought true nature of everybody and I love that

I have noted even people who were showing like impartial have started to show true color, and see the western embassies my gosh shameless, they were like not in this world when the ranil and bond scam clan were postponing elections and doing all the damage to democracy now all come out for democracy

My request to USA and gang is if you have real concern about strategic locartion of sri lanka just say it and grab a piece without destabilizing the country with karu maya and ranna ponil

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