Perpetual Treasuries Says Facing Risk Of Bankruptcy

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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.

Arjun

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 the company on the orders of the Monetary Board.

Perpetual Treasuries has cited the Central Bank of Sri Lanka, including its Governor Dr. Indrajit Coomaraswamy, and the Monetary Board as respondents in the petition.

The petition is scheduled to be taken up by the Court of Appeal on February 20.

In the petition, Perpetual Treasuries said that even though they have sought redress and clarifications, both the Central Bank and the Monetary Board have ignored the company’s request for clarification, and it is also facing the risk of bankruptcy due certain operation issues due to the Monetary Board’s decision

Last week, Coomaraswamy instructed Inspector General of Police to conduct an investigation into Perpetual Treasuries, the primary dealer of the Central Bank.

The Monetary Board also decided to curtail operations of the company, which has direct links to ex-Central Bank Governor Arjuna Mahendran’s son in law Arjun Aloysius.

Apart from the request to the police to probe the primary dealer, the Central Bank is also carrying out internal inquiries against Perpetual Treasuries.

Perpetual Treasuries which has been accused of having a direct link to the Central Bank Treasury bond scam, recorded a profit of Rs. 5.1 billion for the year ending March 2016, which was 430 percent increase in profits in comparison to the previous year.

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38 Responses to Perpetual Treasuries Says Facing Risk Of Bankruptcy

  1. 34
    0
    Have a proper investigation. Everyone involved should be investigated and they are: 1 CBSL governor and Deputy Governors 2 CBSL staff from Public Debt Department 3 BoC chairman and board members 4 BoC GM and staff 5 EPF staff 6 Perpetual Trasuries board members 7 Perpetual Treasuries staff 8 other banking institutions involved 9 Internal and external auditor of Perpetual Treasuries 10 Other regulators

    Jagath Fernando
    February 14, 2017 at 12:31 pm
    Reply

    • 33
      15
      The man directly behind this scam is non other than our “Mr Clean” Ranil Wickramasinghe. He is the man ordered the BoC chairman to give money to Perpetual Treasuries.

      Jayan
      February 14, 2017 at 1:47 pm
      Reply

      • 22
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        What nonsence you ve been adding here?. no any leaders directly involve in the kind of handlings. There should be factual background to end up all this way. I really dont think RW or any anyone may have supported since every one will know things would come up later. Please be patient, since the report from the appointed commission will reveal all the bits Now it is under investigation, unlike the billions being taken away by Rajapakshe for their own sakes. Even if the deposits are made in Dubai banks, not much is approached in that regard.

        Simon De Silva
        February 14, 2017 at 2:19 pm
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        • 14
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          Simon aiya, you eat your own stupid words! You save RW for this day light robber siting “nonsense” and alleged MR for “billions being taken away”, but still there’s no proper evidence! Is it because the lackey in you talking or the born UNPer syndrome you are suffering? Whatever it is, the bad smell cannot be stopped!

          max
          February 14, 2017 at 4:49 pm
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          • 13
            1
            If you say so MR is the mafia king, but he is still scot free. We and our hearts are very clear the gravity of crimes YOUR GOD FATHER perpetrated. You the flies found in their extrementa make every efforr tot defend him … sofar, but there will be a day sooner than later, you will nnot be able to continue it. That is my wish.. I am sitting onthe side of victimized families such as Thadjudeen or Ekanaligoda or… lanken state that lost billions of dollars … I want Rajapakshes to find their future in a lanken prison. .. basta

            Simon De Silva
            February 14, 2017 at 10:31 pm
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            • 3
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              God father and his family is getting a free run under MS & Mr Clean RW. Rajapaksa future is enshrined in gold life style as long as MS & RW at the helm.

              Leonard
              February 16, 2017 at 11:38 pm
              Reply

        • 9
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          Man!! what was you smoking? Simon Aiyaa? /HP

          Hunu Patiya
          February 14, 2017 at 11:05 pm
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          • 8
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            I am not that far to smoke the loads of drugs introduced by the drug traffickers like Negombo Lanza- whose business would not have been that progress if your god father failed to support him. We the people of this country are still aware of the facts that your god father Mahinda Jarapakshe abused state helicopters at the time Drug kin pin Lanza was about to be arrested by Police. Remember ? Very same people would NEVER forgether the cruel recent years, even if you guys would go on licking the asses of the high criminals. Today the tears shed by every mother in this country, not being able to nuture their sons and daughters due to the drug menace…… will sink this island in the next years. Rajaakshes will have to face all the punishments for all what they have done to this nation. I have no whatsoever respect to the idiots. Sure, his term found the stop eleminitation of LTTE terror – sorry that was a collective effort.. very same man to ruin the country by end of 2014 is becoming clear to all day to another by today.

            Simon De Silva
            February 15, 2017 at 1:33 am
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    • 10
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      RE: Perpetual Treasuries Perpetual Infallibles? Perpetual Liars? Perpetual Crooks? Perpetual Politicians? All are Perpetual? Make then non-Perpetual

      Amarasiri
      February 14, 2017 at 5:22 pm
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      • 6
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        ˂b˃CB, RW, AM, AA, PT, TI and POL˂/b˃ Please Amarasiri, don’t say that. I think PT deserves our sympathy. It is not easy to hold Rs 5.3 billion in your hand and see it go up in smoke the next moment. It stands to reason that Perpetual Treasuries is bankrupt. The 5.3 billion – the ‘something’ – they got has been extorted by the Tamil International Something, leaving PT with – NOTHING. This ‘something’ that the Tamil International Something got will in turn be used to give as ‘something’ to Western politicians like Hillary. Finally, the price will be paid by the ‘POL’ breakers and the ‘POL’ drinkers of Sri Lanka.

        EDWIN RODRIGO
        February 15, 2017 at 1:43 pm
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        • 4
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          Hi Edwin Appu, how have you been upto. Hope you had a great holiday back in SL. We really miss your walwataram. So enlighten us please with some of your own experiences in the Mathugama area this time. I hope you did not eat Jabara or the like field vegetables as you had been used to do so ? It is believed the cd contents of the veg are even 10 times more than those found in rice .. as we discussed here prior to your honeymoon trip to the country. .. lol.

          Sam Fernando
          February 16, 2017 at 2:36 am
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          • 3
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            Thanks for that. But Jabara? What is that. The lunch offered by the villagers and the priest was grand as usual. It was so good, I do not care about the toxic stuff that it may have contained. The konda kevun offered after lunch was heavenly. Lunch was followed by a discussion where the priest, me and the honoured guests (who shall remain unnamed) had a free discussion.

            EDWIN RODRIGO
            February 16, 2017 at 3:32 pm
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            • 3
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              Hey Mr. you were the one who was speaking loudly about all GODAYA VEGETABLES you would have been enjoying during your holidays.. Japan Jabara is one of the among….. Anyways, hope your ideas added to such discussions did nt make any permanent damage as RAJAPPAKSHEs did it all levels ? We are today very much worried of not seeing -Thadjudeen killers being not caught yet. All in all, we are fed up of not seeing any proper moves against former high criminals. Now with the name of bond scam issues, they make every efforts to be away from their high profile crimes.

              Sam Fernando
              February 16, 2017 at 4:58 pm
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              • 2
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                Crime and Punishment You say: “We are today very much worried of not seeing -Thadjudeen killers being not caught yet”. You are right. This heinous crime should not go unpunished. The situation reminds me of the John Grisham novel (I forget the title) where a group of judges, sickened by the way that obvious criminals escape justice due the inefficiencies of the justice system, try them in private and if found guilty are bumped off through contract killers. Of course the above is not what we should have but something drastic has to be done.

                EDWIN RODRIGO
                February 16, 2017 at 9:12 pm
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                • 1
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                  how come you add the kind of thoughts Edwin ? may have worked a tranquil pill ? Or කැරන්කොකු මැල්ලුම් during your vacation may have changed you a positive thinker ? Prior to your trip, if my memory is right, you were hell bent on to former leader and his wonder making tactics. or your trip to lost paradise having met with good ones – all changed your mind to stand against real murderers of Thadjudeen player ? See when thinking about the torment that his mother should have gone through… can you imagine the way the men in the country play with the innocient ? Last night I happened to watch what Dr.Dhambare Amila had to say about the current situation. https://www.youtube.com/watch?v=tyQN6p8b8qY&t=185s He is in the view, that the country is hugely lack of experienced professionals. And the reason why people loudly attack Prez and PM today are ölot more connected to duo s denials to anyone begging them as had been the case prior to 8th Jan 2015.

                  Sam Fernando
                  February 17, 2017 at 6:10 pm
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                  • 0
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                    A Mother’s love You say “See when thinking about the torment that his mother should have gone through… can you imagine the way the men in the country play with the innocent?” Buddha has said that the closest example to Metta that he can give is a Mother’s love for a child. I grieve for Thjudeen’s death as a father (and a brother). The fact that he was tortured in the most horrible way makes my anger a hatred. Just killing someone is bad enough but to torture the victim makes my blood boil. You are wrong in assuming that I supported a certain megalomaniac. NO! But I found some people supporting him despite all his crimes. I wondered why. And I wanted my companions to also see this phenomenon and ask themselves why. During the trip I found many who voted for MS+RW changing their minds.

                    EDWIN RODRIGO
                    February 17, 2017 at 9:43 pm
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                    • 0
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                      Edwin, thanks for your posts. I know it is srilanka. I thnk you may have understood it better than I do.. I did not have the chance to talk live to many even my last visit to the country is just 8 months ago. Reason why MY3 and RW has failed to fulfil all the pledges as promised is connected with a complex situation prevailing in the country. Evne if leaders got changed by last E, nothing was changed as had been before. Even in Trump s rule, they shifted almsot everyone after he came to power. https://www.youtube.com/watch?v=fX-bbKRjKTw&t=121s As I got to see in Diwulapitya illegal Soil Digging issue – anyone with a little brain would at once be ready to stand with Eco friendly people than with various criminal gangs, that only thought to dig the soil and become rich to be above in the area. The particular secretary of PS in Diwulapitiya to behave that indifferent was a shock to me and I believe to anyone with some knoweldge about SELF RESPONSIBLITIES being officers. Even if the lady at the place did a big mistake not being serious with the rallied people, there had been protest marchers to support her and what they called – stand against embarracement made to the state officers… can you imagine ? Even if you would publicly want to kill someone – there down you can find supportive masses in the country today. They rather supports culprits.. corruption friendly than the others… that is in their blood.. so dod you think even if RW and MY3 can change their nature ?

                      Sam Fernando
                      February 18, 2017 at 5:40 pm

                    • 0
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                      I think lankens in general more abuse Buddha teachings for their abusive agendas. if the country is that predominantwith buddhist philosopy, most in the country should be free from average crime friendly mind sets.. is that the case in the country ? No not at all.. be them in Safron robes or not, they are no means buddha followers. It is just a like book with an outer cover painted attractive but the contents are far from what the cover encouraged. Lanken situation is complex than anyone of us feels being out of the country. Gravity of the problem today being unable to control free media seem misleading masses. Dherana and Hira senders abuse it every minutes. For them what matters is the commercial gains. I think some sort of media ethics should be introduced before long, else, misleading can end up with all tragedies. Even on the west, calling theirs are free, but there are some restrictions strickly held for example in British, German, Dutch , French public media. So why not us the far poor folks allow idiots to abuse media freedom that way ?

                      Samuel Jayaweera
                      February 18, 2017 at 6:14 pm

    • 1
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      FORMER CBSL GOVERNOR MAHENDRAN, HIS SON IN LAW AND THE CONNECTED ALLEGED TRAITORS MUST BE JAILED AND THE PRIVATE PROPERTY CONFISCATED WHEN THE CASE IS PROVED. OUR SRI LANKA NATION WAS DESTROYED BY THEM. LAWYERS KNOW THAT BANKRUPTCY IS A DEFENCE FOR MANY FRAUDS. I HOPE OUR JUDGES ARE HONEST AND WILL REFUSE ALL RELIEF TO THOSE FRAUDS. WHY CANNOT THE PATRIOTS SO CALLED IN YELLOW ROBES GET HOLD OF THOSE WRONGDOERS AND QUESTION THEM…………………….AND FINISH THEIR POWER, MIGHT AND DO THE SAME TO THOSE WHO HARBOR THEM?

      KAUTILYA
      February 18, 2017 at 11:49 am
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    • 0
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      Dear Readers, Shall we ask Mahendran and Arjun (remember the frauds record holder of the past, Saundranayagam?) whether we could bring Reverend Gnana Sara to settle the matter ,if they do not agree to going to jail and reimbursing the CBofSL to every cent. If they do not go to jail, if their property is not confiscated to recover all damages + punitive damages, OUR JUDGES ARE NOT THOSE WHO FOLLOW THE RULE OF LAW. Rev. Gnana Sara can advice them too.

      Chandragupta W.
      February 18, 2017 at 12:09 pm
      Reply

    • 0
      0
      corruption in politics have to stop, all politicians have one goal to make as much as they can within that 5 year period. Though they debate in the parliament do you think they are serving the public, No No No they are bunch of crooks they share mutual benefits . They cheat the public in front of the camera complimenting each other cheers in the evening. ” Ooo mata gahanawa mama oota gahanawa , gahala thiyananney mata mai” He is punching me ,I am being punched by him. Oh I am the victim. My3 Ranil Mara are all bloody crooks ,nobody knows whats going on behind the screen.

      roy
      February 18, 2017 at 4:08 pm
      Reply

  2. 26
    6
    Insider dealing written all over. Even a school Raffel ticket states no person related to the teachers, PTA Is eligible for winning. But Son in law and father in law did a deal for billions swindling people’s funds. Shame. Jail them for 199years

    Jehan
    February 14, 2017 at 12:57 pm
    Reply

  3. 27
    5
    In a country where Law and justice work, Perpetual Treasuries should be sealed and their all assets should be frozen. In Sri lanka, politicians are behind every grand theft. So, they cry out loud.

    jim softy
    February 14, 2017 at 1:28 pm
    Reply

    • 3
      1
      jim softy dimwit “In Sri lanka, politicians are behind every grand theft. So, they cry out loud.” It is because in the 60 years or so since independence the country has been converted into a Sinhala/Buddhist state and ruled by the corrupt Sinhala/Buddhists. Wake up dimwit. Convert the people into Buddhism from Sinhala/Buddhism.

      Native Vedda
      February 15, 2017 at 4:39 pm
      Reply

  4. 8
    3
    The young guy looks a million bucks , but whether he sleeps well at night is another matter .

    The Oracle
    February 14, 2017 at 2:48 pm
    Reply

    • 9
      2
      The young guy looks a billion bucks alright. As for sleeping well at night there is no doubt about it. As for awaking up each morning fit as a fiddle there is doubt about it. When you rob and cheat openly with the arrogance that the law is powerless against you then there comes a day when you will be no longer sleeping well at all. That day likes all the days in the calendar of the years will gradually roll up to you and then its to late. ” THE MILL OF GOD GRINDS VERY SLOWLY BUT VERY SURELY ” ————————————//—————————————–

      Jackson
      February 14, 2017 at 4:56 pm
      Reply

  5. 9
    17
    Good one.. Batalanda Ranil’s UNP Elite, Anglican ,Vellala and the new addition, Diaspora Faction now has a TV Station, and Sunday Leader to supplement LankaeNews. It also has a big swag of Union Bank shares as a regular Income Stream. Even if Aloysious goes under by declaring Bankruptcy Family fortune which was paid by the Yahapalana suckers is safe. Plus the FIL is still on Yahapalana Payroll with First Class VIP travel to raise more money for Batalanda Ranil and his UNP.

    K A Sumanasekera
    February 14, 2017 at 2:55 pm
    Reply

  6. 14
    3
    Those who know the long standing relationship between RW and Mahendran will not believe that Mahendran would do something of this scale and daring without RW in the picture. It is only because of RW that Bank of Ceylon , EPF etc fell in line for Perpetual to make the billions. What about RWs all out defense of mahendran and perpetual ? Even the UNP was forced to defend a fraud ( remember Dr Harshas defence?) What nonsense that politicians are frightened of getting caught. What has happened in the cases of MR and Co? People like RW knows what a joke this country is !Otherwise how can such an unpopular and non performing man become the PM? How can he remain a leader of a political party having been a serial election loser? He even wanted us to vote for Sarath Fonseka as President ! The gods saved the country from that disaster,But one time RW appointed a taxi driver as mayor of Colombo, clever isin’t he ? How come people think RW is honest and capable? RW knows what fools the Sri Lankans are because he knows he is neither honest nor capable, only a bluff and a phoney ! What happened to the ECCTA he threatened to introduce before the end of 2016 ? Only hot air man ! Now even Australia is falling inline-they have made RW a Doctor !Why ? Ha ha, But this mahendran affair is the last prank RW will pull

    harry hatton
    February 14, 2017 at 6:56 pm
    Reply

    • 2
      3
      It is Sinhala baiyas with a bit of dough and think they are UMP, who buy Batalanda Ranil’s Bull Shit.. And some of the Mahanayakas who only take Alms from the Elite even if they are not Buddhists. My Elders tell me he even promised 22k Gold chains to Boys in Srilanka. That was when Batalanda was a bachelor I guess. The real Elite , Vellala and the Anglicans in Colombo never bought it. And they will never buy it. But they keep mum because what ever BS Batalanda spits out, are to serve the interests of the real Elite.

      K A Sumanasekera
      February 15, 2017 at 12:55 am
      Reply

    • 1
      4
      “RW appointed a taxi driver as mayor of Colombo, clever isin’t he?..” As I recall the 3-wheel driver became Colombo Mayor during MR’s time when cloak and dagger politics was the order of the day – controlled by Gotabs generously. The uniformed services were illegally used – when GR so ordered. In this operation, that scum Kudu Mervin played a lead role. I believe Ranil had no hand in this shameful episode. BTW, where is Kudu Mervin and his notoriously deranged son? If either are to escape the law despite several terrible criminal acts, not excluding murder brazenly committed by them, our Police, Courts, Justice System – that is to say our governance continue to become a laughing matter. Legal Lunumiris

      Legal Lunumiris
      February 16, 2017 at 2:46 am
      Reply

  7. 2
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    The CB officials who conducted the infamous Bonds Sale should have been interdicted, charge sheeted, and an inquiry held – as to, Why they sold a massive amount of bonds far in excess of the amounts advertised as on sale on that day, that too on interest rates far in excess of normal rates. and, Why they sold these massive amounts to a primary dealer who had originally borrowed massive amounts from the Central Bank itself. Mahendran had knowingly allowed this to happen. He should have been sent on compulsory leave till the inquiry was concluded. The audit queries on expenses incurred on his many trips too, should be inquired into.

    justice
    February 14, 2017 at 7:58 pm
    Reply

  8. 6
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    its funny how everyone assumes ranil doesnt steal. all these guys steal, some make it a law others just steal. no difference. public suffer.story of sri lanka. the loans given by west and china 50% goes for commissions and deals. no wonder taxes are so high.

    jehan
    February 15, 2017 at 1:06 am
    Reply

  9. 1
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    Perpetual Treasuries Says Facing Risk Of Bankruptcy” The published letter to Ranil from World Bank suggested, based on the market prices on that day, the bond sale could have been a lost opportunity for perpetual. That is, Perpetual could have under quoted below the market price. That mean the bond sales was a loss for Perpetual than it needed. (Quoting above market price is important for all average companies to not to make loss and go bankrupt). CB has to pay the perceptual any loss element.

    Mallaiyuran
    February 15, 2017 at 6:34 am
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  10. 5
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    This company that used EPF funds to make mega profits should not only allowed to be bankrupt but also the Directors at the time and all CB personnel and politicians who facilitated this transaction should face criminal charges. This is highway robbery of poor peoples money. The reason Ranil W is protecting Mahendran is not because he is a friend but if Mahendran is prosecuted he will spill the beans and Ranil & Co will get exposed.

    Gamarala
    February 15, 2017 at 8:16 am
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  11. 1
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    If Ranil is so honest how come the Wickramasinghe family purchased several houses in Colombo 7 (eg. in Guildford Crescent) in the past decades mostly in the name of the matriach

    Mrs Wadugodapitiya
    February 17, 2017 at 12:34 pm
    Reply

  12. 0
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    This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

    Judge Dehideniya
    February 17, 2017 at 1:25 pm
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  13. 1
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    Another soon to be unsolved mystery, all parties involved are politicians or politically influential people as such I feel its too early to celebrate. The injunction will be got and investigation forgotten. Such is life.

    SAM
    February 18, 2017 at 6:40 am
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  14. 0
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    This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

    Judge Dehideniya
    February 18, 2017 at 5:45 pm
    Reply

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