Former NSB Chairman enlarged on Rs. 20 m bail

Siranjanee Kumarie and Jayantha de Silva

Colombo Chief Magistrate Rashmi Singappuli yesterday enlarged on a Rs 20 million surety bail the former chairman of the National Savings Bank (NSB) and the husband of the former Chief Justice, Pradeep Gamini Suraj Kariyawasam, produced before court in connection with the unlawful purchase of 7,863,362 shares of The Finance Company, knowing that the government stands to financially lose by such a transaction. There are four allegations against the suspect.

The Magistrate ordered that the suspect’s passport be impounded. The case will be taken up on April 26.

State Counsel Thusith Mudalige instructed by Deputy Solicitor General Suhada Gamlath submitted that subsequent to the case filed against the suspect on October 25 last year by the Commission to Investigate Bribery or Corruption the advice of the Attorney General was sought.

Accordingly, an amended complaint under Section 1361 (B) of the Criminal Procedure Code was lodged and submitted to court. The first allegation between March 1, 2012 and May 30 is that the former NSB chairman by virtue of being a government servant purchased shares of The Finance Company without following the prescribed procedure.

The second allegation is inducing the General Manager of the NSB and CEO Senanayake Mudiyanselage Bandara to invest money for the purchase of shares. The third allegation is in connection with the appointment of a member to the Board of Directors of the The Finance Company by way of using the powers vested to the suspect by virtue of his office. The fourth allegation is appointing one Shan Shanmuganathan to the Board of Directors of the said company. Attorney at Law Saliya Pieris appearing for the suspect submitted that the revised plaint is accepted after preliminary objections. He requested for a future date to be fixed for the hearings.

Deputy Director General of the Commission to Investigate Allegations of Bribery or Corruption Sunethra Jayasinghe, Director Legal Division Hasitha Anthony, PS Bandara , PS Chandrasiri prosecuted.