Court Of Appeal To Determine Whether To Allow Petition Against Cabral's Appointment As CB Governor On Nov 03

The Court of Appeal will determine whether to allow the petition seeking permission to issue an order nullifying the appointment of former Minister of State Ajith Nivard Cabraal as the Governor of the Central Bank of Sri Lanka, on November 03.

The petition was taken up before a bench of Justices of the Court of Appeal comprising Sobhitha Rajakaruna and Dhammika Ganepola today (12).

The lawyers of both parties informed that the written submissions related to the case have been handed over to the court.

Accordingly, will notice be issued to the respondents for further hearing of the petition? Isn't it The Court of Appeal directed that the decision be announced on November 03.

The petition was filed by Rajith Keerthi Tennakoon, a former Governor of the Southern Province.

The respondents were the Attorney General, the Inspector General of Police, former Minister Ajith Nivard Cabraal, Secretary to the President, Minister of Finance Basil Rajapaksa and Deputy Governor of the Central Bank of Sri Lanka TMJ. Y.P. Fernando has been named.

The petitioner has stated that the Central Bank of Sri Lanka conducted an in-depth audit on the recommendations of the Presidential Commission of Inquiry into the Central Bank Bond Fraud. The government has reported a loss of between 10.4 billion and 10.6 billion rupees.

In addition, the petitioner points out that the Government of Sri Lanka has incurred a loss of US $ 200 million through the hedging agreement headed by him.

The petitioner alleges that the Attorney General has not taken any legal action against Ajith Nivard Cabraal, even though the Central Bank of Sri Lanka had submitted a formal audit report on the losses incurred during his tenure as Governor.

Accordingly, the Court of Appeal has requested the IGP to issue a writ order to arrest and detain the respondent Ajith Nivard Cabraal and record his statement.

© 2019 Asian Mirror (pvt) Ltd