Perpetual Treasuries Ltd

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Details

Also known as: PTL, Perpetual Treasuries
Type: Primary dealer in government bonds; Company
Status: Named as an accused in the indictment before the Permanent High Court-at-Bar, served 19 July 2019; no verdict read
Owner: Arjun Aloysius, according to Daily FT
Appears on: Politicians and investigators
The Treasury bond cases
Last checked: 13 Oct 2026 (what this means)

Connections (13)

Perpetual Treasuries Ltd / Accused in, indictment served July 2019 / Central Bank bond transactions caseAllegation
- The Permanent High Court-at-Bar served indictments on eight accused, including Perpetual Treasuries Limited, on 19 July 2019 and granted them bail. The Attorney General had presented 23 counts under the Public Property Act and the Registered Stocks and Securities Ordinance. No verdict is reported.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
Arjun Aloysius / Owner of / Perpetual Treasuries Ltd
- Ada Derana calls him the owner of Perpetual Treasuries Limited.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
- Daily FT describes the company as owned by Aloysius, the former Governor’s son-in-law.21 Apr 2018 · Daily FT · Interpol issues red notice for Arjuna Mahendran over bond sale
Kasun Palisena / Chief executive of / Perpetual Treasuries Ltd
- Ada Derana lists him as the company’s CEO among the defendants.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
- Daily FT calls him the Perpetual Treasuries CEO and reports in April 2018 that he and Aloysius were remanded in custody.21 Apr 2018 · Daily FT · Interpol issues red notice for Arjuna Mahendran over bond sale
Geoffrey Aloysius / Chairman of / Perpetual Treasuries Ltd
- Ada Derana lists him as the chairman among the defendants.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
Pushyamithra Gunawardena / Director of / Perpetual Treasuries Ltd
- Ada Derana lists him among the directors named as defendants.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
Chitta Ranjan Hulugalle / Director of / Perpetual Treasuries Ltd
- Ada Derana lists him among the directors named as defendants.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
Muthuraja Surendran / Director of / Perpetual Treasuries Ltd
- Ada Derana lists him among the directors named as defendants.19 Jul 2019 · Ada Derana · Aloysius and 7 others served indictments; granted bail
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
Perpetual Treasuries Ltd / Said to have secured a Rs. 13 billion loan from / Bank of CeylonAllegation
- The writer says the primary dealer headed by the governor’s son-in-law secured a Rs. 13 billion loan from Bank of Ceylon within minutes, enabling it to bid for more than half the bonds sold. The writer cites no source for the claim.18 Feb 2025 · Daily Mirror (Sri Lanka) · The Great Bank Heist in Feb. 2015: Ten Years On - Part I
Arjun Aloysius / Owner of / Perpetual Treasuries Ltd
- Says Perpetual Treasuries is owned by Mahendran’s son-in-law, Arjun Aloysius.27 Nov 2024 · Daily FT · Arjuna Mahendran summoned over 2015 bond scam
- Lists him among the suspects as the owner of Perpetual Treasuries Limited.13 Oct 2021 · Ada Derana · AG wants bond scam case to proceed with two accused in absentia
Kasun Palisena / Chief executive of / Perpetual Treasuries Ltd
- Names Kasun Palisena as the chief executive of Perpetual Treasuries and reports him in remand custody.21 Apr 2018 · Daily FT · Interpol issues red notice for Arjuna Mahendran over bond sale
- Lists him among the suspects as the chief executive of Perpetual Treasuries Limited.13 Oct 2021 · Ada Derana · AG wants bond scam case to proceed with two accused in absentia
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
Treasury bond case, Supreme Court ruling, June 2026 / Accused company; Supreme Court held a company can be prosecuted / Perpetual Treasuries LtdAllegation
- Daily Mirror reports that the Supreme Court held there was no legal impediment to prosecuting a company under Section 5(1) of the Offences Against Public Property Act.1 Jun 2026 · Daily Mirror (Sri Lanka) · Supreme Court revives Treasury Bond charges against Perpetual Treasuries, others
- Daily FT reports that the Supreme Court held the charges could lawfully be maintained against the defendants, including the company.2 Jun 2026 · Daily FT · Supreme Court overturns Bond scam acquittal, orders trial against Ravi, Mahendran and others