The founding editor of the Sinhala weekly newspaper ‘Rāvaya‘ and the chairman of the Ravaya Publishers (Guarantee) limited ‘ Victor Ivan has pocketed Rs 5 Million out of a total Rs 12.7 million that had been collected to ‘keep Rāvaya afloat’, Colombo Telegraph learns.
Victor Ivan
Supporters of the newspaper and the positions it had taken from all parts of Sri Lanka and even from overseas responded positively to the call of the financially strapped newspaper.
Responding to a query from Colombo Telegraph, Ivan acknowledged that he had in fact taken Rs 5 Million, but clarified that this was payment for the sale of his 20% stake in the newspaper.
Ravaya, which has been a strong advocate of accountability and transparency, never disclosed in its appeal to supporters that Rs 5 Million of the funds collected would be given to any individual.
Colombo Telegraph learns that Ivan had in fact demanded Rs 20 Million for 40% of his stake in the newspaper. The Rs 5 Million given to him was therefore a part payment.
However, Rāvaya being a Company limited by guarantee and operating as a not-for-profit organization, much like an NGO, does not and cannot have provision for Ivan or anyone else to claim monies that have been collected for a fund of this kind.
The relevant conditions are enshrined in Section 34 of the Companies Act:
“Where the Registrar is satisfied that an association about to be formed as a company limited by guarantee is to be formed for promoting commerce, art, science, religion, charity, sport, or any other useful object, and intends to apply its profits, if any, or other income in promoting its objects, and to prohibit the payment of any dividend to its members.”
Sections 32-34 are the applicable Sections. And here’s the Section that specifically exempts shares, debentures etc from companies limited by guarantee;
THIRD SCHEDULE [Section 35 (1)] PROVISIONS WHICH DO NOT APPLY TO COMPANIES LIMITED BY GUARANTEE
Part IV (Shares and Debentures)
Sections 93 to 98 (Minority buy-out rights)
Sections 99 to 101 (Interest groups)
Section 123(1)(b) and (c) (Company to maintain share register)
Section 124(1) and (3) (Place of share register)
Sections 198 to 200 (Disclosure of director’s interests in shares)
Section 220 (Duty of directors on serious loss of capital)
Colombo Telegraph has interviewed dozens of people associated with Rāvaya regarding this payment. We have Ivan’s contradictory statements on the issue as well as comments from founder members of the Rāvaya, Rāvaya Solidarity members, supporters of the newspaper and legal experts. We consider this is an ongoing investigation and such comments will be interjected as and when appropriate in our reports.
Colombo Telegraph believes that the majority of the Rāvaya Solidarity members desired to save Rāvaya so that it can remain a critical and independent newspaper. Colombo Telegraph also lent its weight to this effort.
Colombo Telegraph learns that a contributor who has not been given a receipt acknowledging contribution nor given a share certificate for the amount of Rs 100,000 is considering taking legal action against Rāvaya.
Vetmahadeva / June 26, 2015
Victor Ivan have to survive first to survive the Ravaya!
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Pinappu / June 26, 2015
This man who is doublestandard has two tongues…
This we noticed already long back.
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Rarityminds / June 26, 2015
Pinappuwo,
that is called – ape miniha priniciple.
Everything is under to that.
Ravaya editor Viktor ivon has cruped his hand not for anything than have written all crap to attack not the truthful people that abused the funds of the the poor, but just former president. This is not fair actually. Man went like clay eaten crocodile during the last 10 years until he though made clear that MR will be dfeated by MS.
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len / June 28, 2015
Transparency International Sri Lankan past chief Mr W. should be appointed to investigate this caper ASAP.
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Chandrika / June 26, 2015
“Chura Ivan” I have nothing to say! well done CT!
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Rarityminds / June 26, 2015
Very same man utters nothing towards MaRa WHY ?
If CBK was Chaura – MAHARAJA should have been thousands of more abusive or not ?
TOday, almost everyone is clear how Maharaja back the criminal minded, abusive minded, so what happened to the Ravaya man not to utter a single word against Mara ?
To the very same manner Mara protected Drug kin pin Lanza, he protected Ravaya editor or any others he thought need to do so for his political survivial.
Now Mara smeared all stinks on his white cloths – make a real struggle to protect his name RATHER than the image.
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Amarnath / June 26, 2015
This is not proper investigative piece. Even Company Act quoted is not about selling ownership. Prohibition is on dividends. Victor or anyone in Ravaya not taken dividends. Victor has sold part of his ownership. The section quoted is not prohibiting that.
So what’s the problem here? I don’t see any illegal work
Amarnath
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Insider / June 26, 2015
Has Ivan invested 20 million in Ravaya to take money? The answer is no.
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max / June 26, 2015
Thanks CT. Revealing this man was a necessity for a long time. This revelation has in fact given this so called “ambassador of good governance”, “champion of accountability” etc., etc., the due place he deserves. Thanks again CT.
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AVB / June 26, 2015
This country is struggling to find 3 decent civilians for independent commission..CT and others found all three well known intelligent civilians selected are nothing but crooks… Now we find even this old poor communist Victor iwan or even famous Karlo Fonsekas are similar crooks as MR, CJ, bla bla….. What a country, what this nation has become….. Sad…. 100% crooks,, Thakkadies… not easy to find a single decent civilian… who am I?
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Ammata Hudu / June 26, 2015
Ha Ha ! Here is the very same man who once called Chandrika “Chauwra Rajini” or ‘Bandit Queen”.
Perhaps we can now call him “Chauwra Ivan” now.
People funded this paper when they appealed saying they needed to keep it afloat. Now this is a classic case of getting caught with your hand in the cookie jar.
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max / June 26, 2015
Ammata udu, just because Ivan caught up in a financial scandal, that does not turn ‘chawra rejina’ or the bandit queen to a clean queen.
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Abu Mukarram / June 26, 2015
so the one who exposes corruptions is too exposed.
Hmm. I was wondering why he who wrote CHOWRA RAJINA did not want to write CHOWRA RAJA>
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dcn / June 26, 2015
Victor Ivan has toiled for a long period yo keep Ravaya afloat. He is in old age and nothing is wrong his taking some money as part payment for his stake in the company and this will help him to survive his latter years.
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Naga / June 26, 2015
Guys like Victor Ivan who take up the cause of accountability and transparency are not themselves accountable or transparent. There is a saying in Tamil “Oorrukadi upadesam unnaku alladi”( meaning the preaching is for the public and not for you my wife) They preach to the world and do not not follow these themselves Another shining example in this category is the transparency and rule of law fame Pakiyasothy Saravanamuthu.
Colombo Telegraph should be thanked for exposing guys like Victor Ivan and Pakiyasothy Saravanamuthu.
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Katmai / June 26, 2015
I don’t know why anyone would be surprised that a slime ball like this would do such a thing.
Don’t you wish we had a government that punishes people who violate laws? Most people obey the law not out of the goodness of their hearts (a small percentage does but not all) but because they are afraid of the repercussions.
If the likes of Victor Ivan or the Rajapaksas are not held accountable you can bet even the “Yahapalanaya” gang would throw up they their hands and go “to hell with it” and do even worse than them.
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KP / June 26, 2015
Hard hitting. good. Very glad I did not contribute!Wasthinking about it at that time!
I was asked then to contribute to that ravaya fund as a help to them Some help!
Good journalism, CT, mainstream media should be doing this stuff. Its a terrible situation here. no professionalism, all journos kowtowing to whatever govt to get benefits. lawyers, same. Disgusting.
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Hettiarachchi / June 26, 2015
Chura Ivan LOL
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Velusumana / June 26, 2015
Someone said Victor Ivon did write nothing against MR. Yes he did not but there is a valid reason for that. There was a huge tax fault by Ravaya over 11 million with Inland Revenue.
This man who talks about morality in public had the audacity to go before MR pleading mitigation, which MR did for him.
Since then, as some once correctly mentioned Victor Ivon did write nothing against MR.
If this is not the case Victor Ivon is free to counter this.
I am sure that he will never do it, because he knows that information of Ravaya tax file and the default payment and about the tax amnesty given by MR is known to all other print media institutions.
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Palitha Perera / June 26, 2015
Now this is the story from the point of view of CT. Considering his daring battles against judges, presidents and other powerful people, at least he should be given a chance to give a full explanation. Why don’t you invite him to explain this in writing to either CT or Ravaya? If he refuses or remain silent then we can give a judgement. Over to you CT & to you too VIctor.
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somasiri / June 26, 2015
Most people do not know the inner character of Victor Ivan.
When Chandrika was leading the opposition campaign for Presidency, Ivan was in forefront.
After elected to the office Chandriak rewarded Ivan with a handsome cash reward in several millions. He acknowledged it and took it to Ravaya office. Other senior journalists found fault with him for duplicity and compromising the media freedom.
What was his answer? He never denied accepting money in return of his campaign to bring Chandrika to power.
Ivan’s answer was simple. “Yes, I took it but did not take it home but brought it to office and declared it”.
Is this explanation acceptable after having compromised the integrity to the President.
Over to you Victor, people want your answer to this
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Marujuwana / June 26, 2015
Not only from Chandrika, but from Lalith Athuladamudali too. Until Athulathmudali died Ivan campaign for him, not to CBK. Athulathmudali paid one million in 1993. Ivan is a man who has no integrity. Taking money from politicians it self unethical.
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Pierre Bezukhov / June 26, 2015
Victor Ivan had toiled hard for Ravaya
In fact in some ways Victor Ivan IS THE RAVAYA –
today he’s old and without pension – so it’s OK if he sold his stake of Ravaya as the quoted section do not give any legal effect to the contrary
Rs 5 million would not buy him a lot in today’s middle class standards either
It seems to me once again CT got cross with Victor Ivan over some matter and subjecting him to media trial ?
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K.A Sumanasekera / June 26, 2015
If Ivan got 5 Mil LKR for his 20 % of Ravaya, just imagine [Edited out]
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Paul / June 26, 2015
The nation is run by thieves and men of straw without backbones.
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confucius tao / June 26, 2015
This guy should be locked up. If he has used the money to pay off for his share of the equity, it is fraud. The Companies Act is quite clear on this principle that monies raised to enable a particular shareholder or creditor to be paid off in preference to all the other shareholders or creditors is fraud and punishable under the law. Maximum jail sentence must be applied so that this sort of hypocrites get the punishment they deserve. Also assets must be confiscated.
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Sinhalaya / June 26, 2015
Majuwana Kankanamge Victor Ivan studied at St Aloysius College Galle. E[Edited out]
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Sujata / June 27, 2015
How do we sustain social entrepreneurs like AT Ariyaratne and Victor Ivan is the question we should ask. Throwing mud at these individuals is totally inappropriate, in my opinion.
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Nagananda / June 27, 2015
‘Throwing mud at them is totally inappropriate” – Sorry, I have to disagree with this statement.
If one plays a Machiavellian dual role in private life, one before the curtain and another behind it, then such people cannot seek refuge anywhere and they should be dealt with appropriately according to law.
I too believed this fund raising campaign to be a genuine effort launched to set up an uncompromising print media that would not sacrifice its integrity under whatever the circumstances – this is what the fund raisers promised to the general public. And according to the information delivered to me by the fund raisers the ‘campaign was a tremendous effort with over 10 million rupees collected from 220 people who had placed their trust and confidence in what Ravaya promised to them.
I too made a contribution of Rs 100,000/- and despite several reminders, not even a acknowledgement notice was sent as yet. This is surely an act of criminal misappropriation of pubic funds taking the contributors for a ride.
I will definitely take this matter very seriously and deal with the Ravaya Publishers Guarantee Ltd as required by law, as the law prohibits the use of such funds by any means either by way of income, profit or any other manner.
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Nagananda / June 27, 2015
Lew Kwan yew once told his Cabinet Ministers not to expect any mercy if found committed of abusing abusing public office for improper purposes.
One Minister was caught and the PM Yew gave him two options, one to go to jail for life or to commit suicide. And the Minister chose the second option and committed suicide.
I feel sorry about Mr Victor Ivan, but he should not expect any sympathy for the serious act of deceiving the general public under cover, for absolutely improper purpose.
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JULAMPITIYE AMARAYA / June 27, 2015
What happened to Victor Ivan’s new book Chaura Rajaa?????.
Or is he still writing that book????.
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Liswom / June 27, 2015
If Ravaya is registered as a private guaranteed company under the Companies Act, the members cannot sell any of their stakes for financial return. It is a non-profit making entity. How on earth Victor sells his stakes? The other stakeholders should sue him.
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Colo / June 27, 2015
Yes, this entity is registered as RAVAYA PUBLISHERS GUARANTEE LTD. and all contributions of over ten million was credited to its account No 8180047738, maintained at Commercial Bank, Maharagama Branch.
Company Law provides that dealing with any manner of funds belongs to a company registered as a GUARANTEE is a punishable offence.
As few correctly stated I too agree that this is a financial crime, abuse of public funds.
Why not Victor Ivon himself come of long hibernation and reply to these charges.
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Gunaya / June 27, 2015
When other founder members (Colombage and Gunasinghe) stepped down they were paid just 1000 rupees as a their shares.
When Ivan decided to step-down he got a cheat to value the property of the company over 10 million rupees of its true value. Deceived the public to contribute to match the inflated value and pocketed 5 millions out of it.
How fair is this.
We demand Victor Ivan to explain to the people, who were completely deceived by his “rouge fund raising campaign”.
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TokyoRose / June 27, 2015
“Chaurya Ivan” is in good company. Did you remember the way he attacked CBK and kept deadly silent about 10th grade drop out Basil maama and their blatant plunder and arrogance? People noticed it long ago.
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Arthur / June 27, 2015
The lone battle waged against the wicked Sarath Silva,Bandit Queen Chandrika and all other political villains was done by Victor Ivan when lesser mortals watched from sidelines frozen with fear and apathy.Victor kept the tempo high for others to follow suit in challenging the system against all odds.Those who criticize now should do well to remember that they do not now have to contend with more than 2000 strong PSD mercenaries of President Chandrika K’tunga (which unit was responsible for the assassination of Kumar Ponnambalam).Nor do they have to dread the draconian Contempt of Court provisions that Victor the journalist taunted and side stepped with contemptuous ease.He did all these effectively challenging the high and the mighty.He deserves not only this 5 million but much more for the courage he displayed at a critical stage in the nation’s history.
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Jim softy / June 27, 2015
JVP had a rebellion because they could not steal from the country.
See now two; Wimal Weerawansha and Victor Ivan.
Two big thieves.
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Professional Higanna / June 27, 2015
Was this a case of professional beggaring? First appeal to beg for funds and then pocket it on the pretext Ivan has shares. The beggar at the traffics lights near my home begs in a more decent manner. Over to you Victor, I am sure you have a better explanation for ‘professional beggaring’? “
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Vincent Gunasekera / June 28, 2015
I think Mr. Victor Ivan should explain his position on this issue in the next issue of Ravaya.
I am saddened by comments being made against him. His tsruggle against injustice has not received sufficient recognition in this country. Sri Lankans can read and write but they cannot understand. This is why we have been electing people like Mahinda Rajapaksa again and again.
Ravaya is the best newspaper in Sri Lanka now. It maintains very high standards. Even guest columnists have been providing excellent articles. I am sure majority of Sri Lankans may not be having intellectual capacity to understand what Ravaya tries to communicate. I am also not sure about the circulation (number of copies circulate in the entire country) of Ravaya.
If Ivan has done any wrongdoing then he must admit it. Nevertheless it is our duty to protect this newspaper simply because we do not have newspapers in our country. Instead we have weekend papers which carry loads of rubbish and and daily papers which sensationalize low quality gossip.
Hats off to Ravaya for its commendable service to the nation.
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