Former Governor of the Central Bank Arjuna Mahendran arrived before the Presidential Commission of Inquiry (PCoI) investigating the Treasury bond issue this morning for the third time.

Mahendran is being questioned on the controversial bond auctions of 27 February 2015 and 29, 31 March 2016 at which Perpetual Treasuries Limited (PTL)  - owned by Mahendran’s son-in-law Arjun Aloysius – made unprecedented gains.

Arjuna Mahendran was notified to appear before the Commission on September 13 and appeared first before the Commission on Tuesday (September 19) and again on Wednesday (September 20).

At the last hearings, Mahendran said he agreed with the Central Bank's Tender Board decision to accept Rs. 10.5 billion bids at the 2015 auction. 

He also disagreed with the Auditor General that a loss was incurred to the government at the 2015 auction. 

Lawyers appearing for Mahendran also informed the tribunal that their client was not compelled to give evidence before the PCoI, being a citizen of Singapore, and noted that their client was cooperating voluntarily.