Golden Key depositors' rights plea put off

Wasantha RAMANAYAKE

The Supreme Court yesterday put off for August 06, rights applications filed by depositors of the Golden Key Credit Card Company.

The rights applications were to be mentioned before the Supreme Court on June 18 which was declared a holiday.

The Bench comprised Justice Shiranee Thilakawardene, Justice P.A. Rathanyake PC and Justice S.I. Imam.

The petitioners, depositors of the Golden Key Company cited 17 respondents including the Monetary Board of the Central Bank, the Governor of the Central Bank, the Secretary to the Treasury, Golden Key Company, Lalith Kotelawala, Khavan Perera, Sicille Kotelawala, the Ceylinco Consolidated Pvt. Ltd. and the Attorney General. The petitioners complained that the respondent company first stopped the payment of interest on deposits and then the depositors were not allowed to withdraw their deposits, without giving any reason.

They stated that they have learnt that the company directors were involved in numerous illegal activities using depositors' money. They pointed out that the company had misappropriated around 26 billion rupees of the depositors.

The petitioners stated that the failure of the Monetary Board to supervise and control the activities of the respondent company were in violation of their rights.

M.A. Bastianz with Sudath Jayasundara appeared for the petitioners. Romesh de Silva PC appeared for Lalith Kotelawala.