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Perpetual Treasuries Says Facing Risk Of Bankruptcy

Perpetual Treasuries Private Limited, which just last year recorded of profit of over Rs. 5 billion has said that it faces the risk of going bankrupt. The claim was made, when it filed a writ application in the Court of Appeal seeking an order restraining Central Bank against a decision taken to curtail operations of […]

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Central Bank Governor Directs IGP To Investigate Perpetual Treasuries

Governor of the Central Bank Dr. Indrajit Coomaraswamy has instructed Inspector General of Police to conduct an investigation into Perpetual Treasuries, the primary dealer of the Central Bank. The Monetary Board has meanwhile also decided to curtail operations of the company, with links to ex-Governor Arjuna Mahendran’s son in law Arjun Aloysius. Apart from the […]

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Seal Perpetual Treasuries: JO Tells Govt.

The Joint Opposition has called on the government to take steps to seal the highly controversial Perpetual Treasuries Limited, after it recorded an unlawful profit of over Rs. 5 billion this year. The call comes amidst an assurance by the Government that investigations are ongoing as to how the company, with links to Arjun Aloysius, […]

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Central Bank Admits Highly Confidential Document On Perpetual Treasuries Was Leaked; Hunts For Whistleblower

The Central Bank has admitted that the highly confidential document on an on-site examination of Perpetual Treasuries Limited which was published by the media including Colombo Telegraph was in fact a leaked document, and the bank has lodged a complaint with law enforcement authorities to inquire as to who was behind the unauthorized release of […]

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Whistle-Blowing On Perpetual Treasuries: Embarrassing But Vindication Of CB’s Supervisory Staff

By W.A Wijewardena – A whistle-blower in the Central Bank The market last week was livid with a leaked on-site examination report, claimed to have been prepared by Central Bank’s primary dealer supervision staff, on the controversial primary dealer, Perpetual Treasuries. It appeared that a good-intentioned whistle-blower from within the Bank had released it to […]

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Confidential Central Bank Document On An On-Site Examination Of Perpetual Treasuries Limited Leaked

A highly confidential document by the Department for the Supervision for Non-Bank Financial Institutions of the Central Bank has been leaked, with the report highlighting serious concerns against the manner in which the controversial Perpetual Treasuries Limited (PTL) had conducted itself, while also benefiting vastly in terms of borrowing billions of rupees under extremely low […]

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Infamous Perpetual Treasuries Makes Over 5 Billion Profit After Bond Scam

Perpetual Treasuries Limited, which is linked to Arjun Aloysius, son-in-law of ex-Central Bank Governor, Arjuna Mahendran has recorded a profit of Rs. 5.1 billion for the year ending March 2016. The firm has seen a staggering increase in its profits of up to 430 percent in comparison to the previous year. The company in an […]

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Bond Scam: The Price Of Perpetual Debt

By Sarath De Alwis – “A man always has two reasons for doing anything: a good reason and the real reason.” – J.P. Morgan The parliamentary brawl over the Bond Scam was a revealing event. It exposed the fragile nature of the Maithripala Presidency and the UNP administration. The coercive deep state has been replaced by […]

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In Defence Of The Auditor General: The Govt. Should Not Blind Its ‘Third Eye’

By W.A Wijewardena – An Auditor General under fire by political authorities The Auditor General of the Democratic Socialist Republic of Sri Lanka, a position created by its Constitution, has been of late at the receiving end from political authorities. It is reported that his performance has been subject to severe criticism by Finance Minister […]

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World Bank Distances Itself From Arjuna Mahendran’s Bond Scam

The World Bank has officially distanced itself from the controversial Central Bank bond scam committed by ex-Governor Arjuna Mahendran citing that they are not aware of the international best practices to accurately calculate the potential loss in the case of the past bond auction. In a letter addressed to M. S. B Ekanayake, Secretary to […]

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