Home / Sectors/ Golden Key case

Golden Key case


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 2 March 2011 01:09


By S.S. Selvanayagam

The Supreme Court yesterday (1) listed for mention on 4 March the motion seeking to direct the Committee of Chartered Accountants, appointed by Court in respect of Golden Key matter, to tender forthwith Audited Statements of Accounts.

The Bench comprised Justices S.I. Imam and Suresh Chandra. The petitioner P.P. Anura Gunawardene in his motion is seeking the Court to direct the Committee of Chartered Accountants to disclose specific details of expenditure incurred by them in relation to their budgets.

He is also seeking the Court to direct all parties to maintain the status-quo (existing state of affairs) without any material change, including disposal of any asset for a short period of time, to enable independent experienced competent person/s to examine and report on the Business Plan including relevant matters connected therewith, taking into cognisance the observations made by the Court thereon.



He cited the Monetary Board of the Central Bank, President Mahinda Rajapaksa, Treasury Secretary Sumith Abeysinghe, Central Bank Governor Ajith Nivaard Cabraal and the Golden Key Credit Card Company Limited as well as Deshamanya Dr. Lalith Kotelawala, Khavan Perera, Sicille Kotelawala, Daniel Jegasothy, Padmini Karunanayake, Suramya Karunanayak, Bandula Ranaweera, Niranjan Fernando and Saradha Sumanasekara of Ceylinco Centre as well as Ceylinco Consolidated (Private) Ltd., and the Attorney General as Respondents.

The Committee of Chartered Accountants had been appointed on 18 May 2009 to function as Officers of Court, without incurring any personal liability, to:

(a) Examine the lists of assets and properties compiled by Officials of the Central Bank on the basis of the declarations made and any other information furnished by any of the parties to the Application and compile list of the (i) immediately realisable assets; (ii) assets that are realisable in the medium term; and (iii) assets that are realisable in the long term

(b) Prepare a scheme whereby these assets could be brought into a common account from which disbursements could be made to the depositors.

(c) Compile a list of the depositors and formulate a scheme of payment.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Victory over the oppressed

Tuesday, 19 November 2019

The Presidential Election is over and the new President has taken his oaths. Although there were opinions expressed that there can be a second count of preference votes of the candidates other than the first and second, it was an easy victory for Got


The mantra of attracting high-end tourists

Tuesday, 19 November 2019

“Easier said than done!” is what many veterans of the tourism industry say whenever the subject of enticing high spenders to Sri Lanka is debated. That being so, some boutique brands have fetched high prices in the past though the current situati


Adopt high-impact interventions to secure future of antibiotics and rollback the global AMR crisis

Tuesday, 19 November 2019

Antimicrobial resistance (AMR) is a global crisis that threatens the future of our most precious drugs: antibiotics. Across the world, AMR kills an estimated 700,000 people annually, including 230,000 from multi-drug resistant tuberculosis. By 2050,


A child’s guide to MCC Compact Sri Lanka

Monday, 18 November 2019

Intelligent children, unlike some of the adults, are curious, probing and questioning. They do not jump to conclusions until and unless they are convinced of facts that have been presented to them. Asani, a student in the Advanced Level class in a le


Columnists More