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Aloysius and Palisena’s revision application AG objects to bail being allowed

The Attorney General (AG) yesterday (11) informed the Court of Appeal that there was no legal right or provisions for the incarcerated beneficiary owner of the primary dealer Perpetual Treasuries Limited (PTL) Arjun Aloysius and its Chief Executive Officer Kasun Palisena to file a revision bail application in the Court of Appeal.

Deputy Solicitor General Yasantha Kodagoda made this statement when the revision bail application, filed by Aloysius and Palisena, was taken for consideration by a 2-Judge Court of Appeal Bench comprising President of the Court Justice Preethi Padman Surasena and Justice Shiran Guneratne.

Kodagoda told the Court that for the suspects to file revision bail applications in Court, they should have significant reasons and that in the applications filed by the suspects, no such reasons had been discovered and therefore, there was no necessity for the Court of Appeal to entertain the bail application filed by the duo.

Kodagoda told the Court that based on the legal provisions, such applications can only be filed under special reasons, and that thus far no such special reasons had been uncovered by the prosecution to accept the case made by the defendants to be allowed bail in the case.

He informed the Court that evidence uncovered in the case thus far had proved that former Central Bank of Sri Lanka Governor Arjuna Mahendran had caused a loss of Rs 688 million to the State by allowing the sale of Treasury Bonds at extremely high interest rates to the PTL during the auction of bonds held on 27 February, 2015.

The petitioners, through their revision bail application have stated that Colombo Fort Chief Magistrate Lanka Jayaratne had refused to grant bail to them based on offences against Public Property Act.

They have also pointed out that based on details submitted against them, by the Criminal Investigation Department, to Court it was yet to be proved that they had committed any offence based on that Act.

The case was put off to 4 July.

(Ceylon Today)

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