Court of Appeal orders Perpetual Treasuries Limited Owner Arjun Aloysius and the CEO Kasun Palihena’s revision application seeking bail to be delivered on the 11th October.

The revision applications seeking for bail was taken up today (18), before a judge-bench comprising Appeals Court chairman Preethi Padman Surasena and Justice Shiran Gunaratne.

Accordingly, it was decided that the order on the revision applications will be passed on the 11th of October.

The petitioners pointed 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 government 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.