Former directors of Swarnamahal Financial Services PLC have withdrawn the anticipatory bail applications they had filed seeking the prevention of their imminent arrest.

Accordingly, Colombo Chief Magistrate Mohamed Mihal has ordered to dismiss the relevant applications.

When the matter was taken up yesterday (January 27), President’s Counsel Anuja Premaratne who appeared on behalf of the petitioners informed the court that his clients decided to withdraw the anticipatory bail applications, as the investigators have not launched a separate probe into the Swarnamahal Financial Services PLC.

He further told the court that his clients – Jeewaka Edirinsghe, Deepa Edirisinghe, Nalaka Edirisinghe and Asanka Edirisinghe – are willing to appear before the Criminal Investigation Department (CID) if they are required to record a statement pertaining to the ongoing probes.

Deputy Solicitor General Haripriya Jayasundara, who represented the Attorney General, meanwhile said an investigation into Swarnamahal will be launched if any information regarding misappropriations involving the company comes to light.

The four former directors were arrested on the 08th of January, however, the Colombo Chief Magistrate’s Court released them seven days later.

The Attorney General had directed the Inspector General of Police (IGP) to conduct a criminal investigation against the Directors of the ETI Finance and Swarnamahal Jewellers Ltd. over their involvement in operating an unauthorized finance business.

Investigations are being carried out over the unauthorized acceptance of deposits worth Rs 13.7 billion, misappropriation, and money laundering.