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Kalinga granted permission to represent Aloysius

Kalinga granted permission to represent Aloysius

The Presidential Commission of Inquiry investigating into the Treasury bond issue, yesterday (10) granted permission to President’s Counsel Kalinga Indratissa to represent Perpetual Treasuries Limited owner Arjun Aloysius at the proceedings.

Indratissa PC made an application yesterday morning at the Commission seeking permission.

Arjun Aloysius’s lawyer appeared before the Commission in the backdrop where evidence was led last Friday (07) regarding certain telephone calls initiated by Aloysius to the Deputy General Manager of the Pan Asia Bank Cooperation Richard Dias, who is a witness at the Commission.

According to Dias, Aloysius may have attempted to tamper with the statement he was giving before the CID team attached to the Commission. Justice Prasanna Jayawardena directed the Attorney General Office to look for legal provisions to take action against Aloysius and Former PABC Chairman Nimal Perera for interfering with witnesses of the Commission.

Application to represent Aloysisus was made under the section 16 of the Commission of Inquiry Act, which grants permission to represent persons whose conduct is the subject of inquiry or who is implicated or concerned in the matter under inquiry.

The panel representing Aloysius also includes lawyers Chaminda Atukorale, Chandrakumara Silva and Theruni Fernando.

Dias, appearing before the Commission for the third day, was questioned on the intermediary role played by the Pan Asia Banking Cooperation regarding the transactions which took place between the Perpetual Treasuries Limited and the Employee’s Provident Fund. PABC has bid on behalf of the PTL at the auction which took place on the 27 February 2015.

It has also acted as an intermediary to sell the treasury bonds purchased at the said auction by the PTL to the EPF. PABC has received commissions from those transactions.

Dias said generally the agreed rates in these transactions should have been mutually beneficial for all the parties involved in it, however in relation with the said transactions it was not the case.

Certain telephone call recordings which have taken place between PTL, PABC and EPF dealers were marked before the Commission by Deputy Solicitor General Milinda Gunatilake.

Dias said that it seemed the bond purchasing and sales between the PTL and the EPF seemed ‘pre-arranged’ and pointed out that the price and the volume regarding those transactions seemed decided by the PTL. He pointed out the telephone conversations also give rise to the same doubt. DSG Gunatilake and PTL lawyer Nihal Fernando PC led evidence for the day. Dias will be further examined by Fernando PC today (11). (Daily News)

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