Event
Presidential Commission of Inquiry into the Central Bank bond issuance
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Details
- Mandate
- Inquire into bond issuances from 1 February 2015 to 31 March 2016
- Outcome
- Final report of 1,257 pages handed to President Maithripala Sirisena on 30 December 2017 and passed to the Attorney General; no verdict in any resulting case read
- Type
- Presidential commission of inquiry
Connections (8)
- Maithripala Sirisena / Appointed; received the final report, December 2017 / Presidential Commission of Inquiry into the Central Bank bond issuance
- In a statement of 3 January 2018 he said he appointed the commission after public concern over alleged corrupt practices in 2015 and 2016, and that the report was handed to him on 30 December 2017.3 Jan 2018 · Daily Mirror (Sri Lanka) · Bond Commission recommends legal action against Ravi
- Presidential Commission of Inquiry into the Central Bank bond issuance / Found he interfered in bond auctions and passed on internal information / Arjuna MahendranAllegation
- In the President’s statement summarising the report, it says he interfered in bond auctions through incorrect and unconventional methods and was responsible for providing internal information to outsiders, and that one party used it to obtain undue profit.3 Jan 2018 · Daily Mirror (Sri Lanka) · Bond Commission recommends legal action against Ravi
- Daily FT reports the commission found he gave an undue advantage to Perpetual Treasuries through insider trading, with a loss estimated at Rs. 11.5 billion.21 Apr 2018 · Daily FT · Interpol issues red notice for Arjuna Mahendran over bond sale
- Presidential Commission of Inquiry into the Central Bank bond issuance / Found it profited illegally with his involvement / Perpetual Treasuries LtdAllegation
- The President’s statement says the report found the company made profits by illegal means with the involvement of Arjuna Mahendran, bank officials and outside individuals: at least Rs. 688 million at the 27 February 2015 auction and an undue Rs. 11,145 million in the secondary market. It recommends legal action against the company, Arjun Aloysius and Kasun Palisena.3 Jan 2018 · Daily Mirror (Sri Lanka) · Bond Commission recommends legal action against Ravi
- Presidential Commission of Inquiry into the Central Bank bond issuance / Found it and other state bodies lost over Rs. 8.5 billion / Employees’ Provident FundAllegation
- The statement says that of the company’s secondary market profit, the Employees Provident Fund and other government institutions lost more than Rs. 8,524 million, and that the report recommends a forensic audit to establish the EPF’s losses.3 Jan 2018 · Daily Mirror (Sri Lanka) · Bond Commission recommends legal action against Ravi
- Presidential Commission of Inquiry into the Central Bank bond issuance / Recommended action over rent for a penthouse, December 2017 / Ravi KarunanayakeAllegation
- The statement says the report refers to the allegation about rent paid for a penthouse apartment belonging to the Aloysius family and their Walt and Rowe company, and recommends action under bribery and corruption law and under the Penal Code for giving false evidence to the commission. The article carries no response from him.3 Jan 2018 · Daily Mirror (Sri Lanka) · Bond Commission recommends legal action against Ravi
- Presidential Commission of Inquiry into the Central Bank bond issuance / Said his Parliament statement relied on Mahendran’s assurances / Ranil Wickremesinghe
- The statement says the report found the Prime Minister’s responsibility in appointing Mahendran as Governor was proper, that he made his statement in Parliament believing the facts presented by Mahendran and Samarasiri, and that he should not have done that.3 Jan 2018 · Daily Mirror (Sri Lanka) · Bond Commission recommends legal action against Ravi
- Presidential Commission of Inquiry into the Central Bank bond issuance / Found, per Daily FT, that he interfered in the auction and leaked insider information / Arjuna MahendranAllegation
- Daily FT reports that a Presidential Commission of Inquiry found he interfered in a bond auction and leaked insider information to benefit Perpetual Treasuries. The article carries no response from him.27 Nov 2024 · Daily FT · Arjuna Mahendran summoned over 2015 bond scam
- Daily FT reports that a Presidential Commission of Inquiry found he gave an undue advantage to Perpetual Treasuries, a company owned by his son-in-law, through insider trading. The article carries no response from him.21 Apr 2018 · Daily FT · Interpol issues red notice for Arjuna Mahendran over bond sale
- Presidential Commission of Inquiry into the Central Bank bond issuance / Found, per Daily FT, that it profited from the leaked information / Perpetual Treasuries LtdAllegation
- Daily FT reports that the investigation found the company made billions of rupees in profits from the information. The article carries no response from the company.27 Nov 2024 · Daily FT · Arjuna Mahendran summoned over 2015 bond scam