18 October, 2017

I Got Just Rs 1000 For My Share, Says Rāvaya Founder Director And Deputy Editor Colambage

Contradicting Ravaya Chairman and the former editor Victor Ivan’s claim about Ravaya employees’ share value, a founder director and the former deputy editor Upali Colombage said he was given only Rs. 1000 for his total of 100 shares (Rs 10 per share), when he was asked how much he was paid for his shares.

Victor

Victor

With the controversy surrounding Victor Ivan’s fraudulent pocketing of Rs 5 million of Ravaya’s collected funds Ivan wrote last week; “When an employee is retired the money he/she get for his/her shares is lager than the accumulated value of his/her ETF and EPF.”

Upali Colombage is a founder member of Ravaya and has been involved since the time it was even attached to the Sarvodaya movement which was led by Dr A. T. Ariyaratne.

After its breakaway from the Sarvodaya, the group formed Ravaya publishers (Guarantee) Ltd. and until his retirement Colambage served as a director of the company as well as the deputy editor of the Ravaya newspaper. He was also a co signatory for signing of Ravaya cheques.

“As far as I remember, according to the memorandum of articles of Ravaya, if in the event they wish to dissolve the Ravaya guarantee limited, all assets have to then be donated to a university (or a similar not for profit organisation or a charity according to the Companies Act). Not a single table or chair even can be taken home by anyone” Colambage told Colombo Telegraph.

Victor Ivan has pocketed Rs 5 Million out of a total Rs 12.7 million that had been collected to ‘keep Rāvaya afloat’, claiming that Rs 5 million is his for selling of his 20% of shares. He claims he is willing to sell his shares of 40% to the value of Rs. 20 million.

“I read the Ravaya story as well as the CT stories with the comments. Ivan does not have a leg to stand on where the law is concerned. There are strict consequences that follow under Section 34 of the Companies Act. This will have an impact on Ravaya itself and not only Ivan at a personal level. I hope that Udan fernando, Gamini Viyangoda, Kusal Perera, Nirmal Ranjith Dewasiri are aware of this. This is a terrible situation. These are the very same guys who are preaching about good governance!” a Colombo based senior lawyer and a legal academic told Colombo Telegraph on the condition of anonymity as she did not want to get abusive emails and a defamatory attack from Victor Ivan.

Last week Ivan wrote in his Ravaya newspaper that all employees were paid EPF and ETF without delay. He claims his salary was Rs. 62,000. “Yes, Ravaya paid EPF and ETF for his salary, but others were not. Other staff members were under paid. Their EPF and ETF contributions were robbed according to Ivan’s plans. For instance when I joined Ravaya my salary was Rs 3900 and I was paid an allowance of Rs 2000 every month. In total I got paid Rs 5900 but my EPF/ETF was calculated on the sum of Rs 3900 only. I was cheated of my EPF/ETF contributions for the balance sum of Rs 2000. This is a fraud” said another employee.

“I also read Ivan’s venomous article last week where he states that all employees were paid bonuses. Yes, that is correct and employees were paid two months salary only in some years during the Sinhala/Tamil New Year. Whilst I was paid two salaries of Rs 3900, Ivan was given Rs 124,000 as his salary was Rs 62,000. This is the equality of the Ravaya newspaper. We campaigned that each and every employee get paid the same amount and distributed equally, but Ivan did not want to hear anything of that sort. Ivan portraits himself as a saint, but look at this story. Under Premadasa regime State media attacked Ravaya and Ivan as the editor. Ivan filed defamation cases against Lake House, all legal fees and expenses were paid by Ravaya. When Chandrika Kumaratunga came to power in 1994 she instructed Lake House chairman to settle all cases and pay compensation. What did Ivan do? He took all money home and not a single cent was paid to Ravaya” concluded the employee who urged Colombo Telegraph not to reveal his name as he went on to state “Ivan will attack me so please don’t write my name”.

Meanwhile the Fraud Bureau did launch an investigation today against abusing of the funds collected from public.

Related posts;

Victor Ivan Pocketed Half Of Rāvaya’s Rs 10 Million Fund

Rāvaya ‘Staff-Shareholders’ Clueless About Ivan’s Rs 5 Million Heist

Ivan Must Return The Bucks He Took: Supporters Including 73 Year Old Pensioner Demand

Ivan’s Rs 5 Million Heist Goes To Fraud Bureau

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Latest comments

  • 0
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    Ivan is a thief NO question

  • 1
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    OMG! Ivan Ivan, I thought you are a great man. Return the money please.

    • 2
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      Vax Silva

      “OMG! Ivan Ivan, I thought you are a great man. Return the money please.”

      Is he the notorious Ivan the Terrible?

  • 1
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    I told you this man is a crook. Thank you Mr Colambage and CT for this revelation.

  • 1
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    I think this person pretended to be a person with a high degree of honesty and integrity is well deserved to be dealt with according to law for deceiving the innocent people to make contributions to maintain the newspaper.

  • 2
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    It seems to me that CT at crucial times is trying to divert attention from more important issues. I am reminded of the Weliamuna saga when the main political issue at that time was the passing of the 19th amendment.Now, when the country’s attention is on the upcoming elections – specifically the re-entry of the Medamulana MARA – CT selects Ivan to vilify. Since CT states that an investigation has been launched by the company registrar on this matter I would wait for it to be completed before making my judgement on this. I hope this will not divert Ivan’s attention (which seems to me the purpose of bringing up this issue at THIS TIME) from dealing with more important issues (spending time and newspaper space to defend himself vs writing on more important and issues). Incidents such as this sometimes make me wonder whether CT is playing a double game.

    Sinha

  • 0
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    Supposing the JVP. OF 1971 captured power,when young Loku Athula[VictorIvan] was a leading member of that outfit,Rs 5M. etc.would have been petty cash for him.
    But,I must not be unfair to Victor Ivan.He has compiled several books on the Political History of this country.

  • 1
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    Sinha,

    We must understand the importance of this issue.

    I believe what CT doing is absolutely right. As usual it brings the attention of the readers to all the current important political or other events taking place in the country.

    The ‘Ravaya Crisis’ is one amongst many. The conduct of leading media personnel is also of public importance since they are the watchdogs for revealing the wrongdoings committed by others high profile pubic figures.

  • 0
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    victor ione[Edited out]

  • 0
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    Ivan [Edited out]

  • 0
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    A Thief

  • 0
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    What a thief and rogue. These are the do gooders we have in SL like the Mara family. Time to introduce public execution for thieves. First strip him of his assets.

  • 0
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    The man who wrote the “Chaura Ragina” could not write the “Chaura Raja of Medamulana” even when so much of swindling was no secret. Why didn’t his pen move the same way as on Chandrika and Sarath Silva when it came to MR. That shows that he has not been honest. A chalatan? !!!

  • 0
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    He cannot utter word against MARA and ungrateful to him.

    On MARA’s orders over 20 millions of Income Tax defaulted by Ravaya was frozen by the Commissioner General of Inland Revenue.

    Over to Ivan to deny if not correct, then I will come out with adequate evidence to prove the accusation.

  • 0
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    He is full of vengeance! When Chandrika dumped him he was fuming that resulted in his book! Uvindu worked for him and must be surely aware of the guy. I know of a doctor in Galle who missed the diagnosis of an urine infection in his son and operated him for appendicitis! He had no mercy from Ravaya!

  • 0
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    Victor ione [Edited out]

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    Ai victor [Edited out]

  • 0
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    [Edited out]

  • 0
    1

    [Edited out] We are sorry, the comment language is English – CT

  • 0
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    did victor ivan [Edited out]

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