Assets of PCH Holding Chairman Rishan sequestrated by Court

Wednesday, 6 August 2014 01:24 - - {{hitsCtrl.values.hits}}

DFCC Vardhana Bank on Thursday 31 July 2014 obtained orders from the District Court of Colombo against S.H.M. Ris-han and S.S. Rishan, seque-strating the shares of PCH Holdings PLC held in the name of Dynaris Holding Limited and sequestrating the funds payable to Dynaris Holding Ltd by its Stock Broker LOLC Securities Limited, excluding the funds to be utilised by the said LOLC Securities Limited in terms of the settlement entered in HC Civil 247/2013/MR on 22-07-2014 in respect of the sale of shares of Dynaris Holding Ltd in PCH Holdings PLC on the Colombo Stock Exchange on 25-07-2014 to secure any decree that may be entered in the District Court of Colombo Case bearing No. DDR 137/2014 for the payment of Rs. 87,538,561/34 and Rs. 7,666,923/97 to DFCC Vardhana Bank and a further order sequestrating the shares held in the name of S.H.M. Rishan. Having being satisfied of the facts placed before Court Additional District Judge Anawarathna delivered these orders. Nigel Hatch PC with Dilumi De Alwis and S. Illange instructed by M/s Julius & Creasy appeared for the Petitioner DFCC Vardhana Bank.

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