The Colombo High Court has rejected the bail application filed by the owner of Perpetual Treasuries Limited (PTL) Arjun Aloysius and CEO Kasun Palisena, Ada Derana reporter said.
The High Court today announced its decision whether to proceed with the revision applications filed by Perpetual Treasuries Limited owner Arjuna Aloysius and CEO Kasun Palisena.
The attorneys representing Aloysius and Palisena filed the revision applications seeking bail before the High Court on February 26.
The officer-in-charge of the CID’s financial crimes division, the director of the CID and the Attorney General were named as respondents in the petition.
The petitioners point out that their bail application was rejected by the Colombo Fort Magistrate’s Court, under the Public Property Act.
However, they request that the decision of the Magistrate’s Court be revised and bail granted as no crimes have been uncovered under the Public Property Act, in the reports presented by the Criminal Investigations Department (CID).
