The Monetary Board of the Central Bank (CB) has thrown out the time-bound repayment plans submitted by two illegal Finance Companies to settle the depositor liabilities in full.
“The Monetary Board of the Central Bank of Sri Lanka at its meeting held on 21.10.2020 decided that the submitted repayment plan was not acceptable. Further, a report was sent to the Attorney General’s Department on 02.11.2020 by the Central Bank of Sri Lanka requesting to institute criminal proceedings in this regard under the provisions of the said Act on the advice of the Monetary Board,” the CB said in a notice to the public.
The CB in September determined that Atapattu Mudiyanselage Dammika Kumara Atapattu and Eyon Lanka Investment and Film Production International Company (Pvt) Limited both at ‘Saman Kekula’, Ambalawa, Demataluwa, Kurunagala have carried on or are carrying on finance business or have accepted or are accepting deposits in contravention of the provisions of the Finance Business Act No. 42 of 2011 Act, and ordered the said person/entity to submit a time-bound repayment plan to settle the depositors in full.
Further, theCentral Bank has already issued freezing orders prohibiting the above mentioned individual and the company soliciting and mobilizing deposits or any funds in any other forms, disposing / alienating assets, entering into any transaction in relation to any account, property or investment. The Colombo High Court has extended the freezing orders until 15.01.2021.