Bimputh to appeal against liquidation order

Saturday, 22 March 2025 00:19 - - {{hitsCtrl.values.hits}}

Bimputh Lanka Investments PLC has decided to appeal in the Supreme Court against the Commercial High Court order for liquidation.

The company said the case no. CHC/41/2024/CO filed by Housing Development Finance Corporation Bank (HDFC) for liquidation of the company was delivered by the Commercial High Court on 15 February for liquidation.

Bimputh Director D.D.K. Gamage in a filing to the Colombo Stock Exchange said the company has appealed against the liquidation order under case no. SC/HC/LA 12/2025 at the Supreme Court and is pending to be taken.

In the first nine month of FY25, Bimputh has reduced its losses to Rs. 81.6 million as against a loss of Rs. 655 million a year ago. However it retained a loss of Rs. 2.18 billion as at 31 December 2024.

The company was mainly engaged in the business of microfinance, SME, personal loans, leasing, gold loan advances along with term and savings mobilisation activities. The company also provided finance for cultivation of cash/other crops, micro, MSME and SME, self-employed individuals and groups.

All the activities were ceased after the Central Bank of Sri Lanka freezing order on accepting deposits from 15 October 2021 and on lending from 26 May 2022.

Daya Group Ltd., and related parties control over 50% stake whilst public holding is 16.67% held by 1,205 shareholders.