The attorneys representing owner of Perpetual Treasuries Limited Arjun Aloysius and CEO Kasun Palisena filed revision applications today (21) seeking for bail before Appeal Court.

The officer-in-charge of the CID’s financial crimes division, the director of the CID and the Attorney General have been 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). 

They were arrested by the Criminal Investigations Department (CID) on February 04 following a complaint lodged by present Governor of the Central Bank of Sri Lanka Indrajit Coomaraswamy.

They were arrested by CID officers who arrived at their respective residences in Colombo.

The suspects have been charged of causing a loss of Rs.9147 million to the governmnet using confidential information of the former CBSL Governor Arjun Aloysius.

The Colombo Fort Magistrate’s Court named former Central Bank Governor Arjuna Mahendran, his son-in-law Arjun Aloysius and Perpetual Treasuries CEO Kasun Palisena as suspects in the CID’s investigation into the bond scam earlier this month. 

The Criminal Investigations Department (CID) filed its first ‘B Report’ in court over the investigation into the controversial issuance of treasury bonds and cited the aforementioned names as suspects.