Home / TOP STORY/ Approval documents on Rs. 46.4 b of UL bonds missing: Official

Approval documents on Rs. 46.4 b of UL bonds missing: Official

Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 7 August 2018 00:10


  • Over Rs. 46.4 b bonds issued between 2011-2013
  • Crucial documents on issuance of bonds and approvals not found


By Maleesha Sulthanagoda 

SriLankan Airlines issued bonds worth over Rs. 46.4 billion from 2011 to 2013, but the documents pertaining to the issuer currently could not be found, the Presidential Commission of Inquiry (PCoI) to investigate and inquire into alleged irregularities in connection with SriLankan Airlines, SriLankan Catering, and Mihin Lanka heard 


SriLankan Airlines Company Secretary Dalrene Thirukumar, testifying before the PCoI, provided further documents pertaining to the purchase of shares under the reacquisition of the Airline from Emirates by SriLankan Airlines. Several irregularities of the deal and other matters were discussed at the PCoI. 

The documents presented by Secretary Thirukumar noted that, from 2011 to 2013, the national carrier had issued bonds worth over Rs. 46.4 billion, although correspondence pertaining to the issuer of the bonds or the approval taken to issue the bonds were not found. 

Thirukumar, presenting documents on the bond issue, said: “In 2011, Rs. 14.62 billion bonds were issued. In 2012, a total of Rs. 12.46 billion bonds were issued. In 2013, Rs. 19.5 billion worth of bonds were issued. A total of Rs. 46.4 billion worth of bonds were issued during the three years.” 

When the PCoI inquired whether there were any documents relating to the issuer of the bonds or the approval taken to issue them, Thirukumar failed to answer as the documents related to the matter were not found. The PCoI later gave the company’s Secretary time to produce any documents pertaining to the events. 

Share This Article


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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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


Today's Columnists

Constitutional paradox: There is no such thing called Election Commission

Wednesday, 14 November 2018

Our Constitution, which was certified by Parliament on 31 August 1978, has 19 amendments; the First Amendment to the Constitution was certified by the Speaker in the same year on 20 November. By the end of 1988, there had been 14 amendments made to t

‘So Sri Lanka’ – upgrade staff, processes, infrastructure at BIA arrivals to be world’s best!

Wednesday, 14 November 2018

24 October, time 12:47 p.m., place – my residence in Colombo My phone buzzes with a WhatsApp message from my old colleague Prasad Fernanado now with Saudi British Bank in Saudi. I am thrilled to see the message ‘Sri Lanka top country for travel i

Qatar crisis: From the Sri Lankans’ point of view

Wednesday, 14 November 2018

The aim of this article is to examine the Saudi blockade over Qatar and its impact in the past 17 months on the country. A special focus will be given to the Sri Lankan workers who have been living in Qatar for the past two decades. The reason why th

The reality of Sri Lanka – household end!

Wednesday, 14 November 2018

Whilst Sri Lanka is debating what is right and wrong on the governance of the country, the Sri Lankan household is falling part due to escalating costs, as per the latest data released by respected research agency Nielsen. For the seventh quarter in

Columnists More