Arjuna Mahendran bond case returns before a Colombo High Court bench, with a pre-trial conference now fixed for November 2.
The Arjuna Mahendran bond case, which had remained stalled for nearly seven years, returned to court on Sept. 9 over an alleged Rs. 688 million government loss.
The Attorney General filed the case against former Central Bank Governor Arjuna Mahendran and several other accused over the controversial Central Bank bond issuance.
The Colombo three-member High Court bench ordered the matter to be called for a pre-trial conference on November 2.
The case came before High Court Judges Priyantha Liyanage, Viraj Weerasuriya and Thilakaratna Bandara.
Several accused appeared before court.
They included former Deputy Governor of the Central Bank of Sri Lanka Pattinige Samarasekara and Perpetual Treasuries directors Arjuna Aloysius, Jeffrey Aloysius, Kasun Palisena, Muthuraja Surendran, Chitha Ranjan Hulugalle and P. Gunawardena.
Arjuna Mahendran, who is named as the first accused, was absent.
The court had previously issued warrants for his arrest.
It had also earlier decided to proceed with the trial in his absence.
Perpetual Treasuries representation delays proceedings
When the Arjuna Mahendran bond case was called, President’s Counsel Naveen Marapana appeared for several of the accused.
He informed the three-member bench that Perpetual Treasuries had also been named as an accused in the case.
However, he said no representative was appearing on behalf of the company.
Marapana told court that the Central Bank of Sri Lanka had banned Perpetual Treasuries in 2018.
He added that the company was therefore no longer conducting business operations.
Deputy Solicitor General Janaka Bandara, appearing for the Attorney General, then addressed the court.
He requested that the pre-trial conference scheduled for Sept. 9 be postponed until a decision is made regarding who would represent Perpetual Treasuries.
Accordingly, the court postponed the pre-trial conference until November 2.
The Attorney General has filed charges under the Public Property Act against Mahendran and the other accused.
The charges relate to an alleged Rs. 688 million loss to the government arising from a Central Bank of Sri Lanka bond auction conducted on February 27, 2016.
The case has attracted significant controversy after remaining stalled for nearly seven years.
Its return to the three-member High Court bench now places renewed attention on the proceedings, including the absence of Mahendran and the unresolved question of representation for Perpetual Treasuries.
