Golden Key FR case: 41 PERCENT TO BE PAID

The Attorney General yesterday informed Supreme Court that the Cabinet had given its approval to repay 41 per cent of the deposits of the depositors at Golden Key Credit Card Company.

Deputy Solicitor General Viraj Dayaratna appearing on behalf of the AG made the remarks when the Fundamental Rights petition filed by Golden Key Credit Card Company depositors came up before Supreme Court’s five-judge-bench comprising Chief Justice K. Sripavan, Eva Wanasundara, Rohini Marasinghe, Sisira de Abrew and Buwaneka Aluvihare.

DSG Dayaratne told Court that the Cabinet approval had been received in this regard following a proposal submitted by Finance Minister Ravi Karunanayake. Accordingly, the Treasury would allocate Rs. 8.5 billion to repay 41 per cent of the deposits of the depositors with the Golden Key Credit Card Company and this amount is to be reimbursed from the assets of the company.

DSG Dayaratna stated that according to the proposal those who have deposited two million rupees or less would receive 41 per cent of the deposits within a period of one month.

Those who have deposited from two million rupees to ten million rupees would receive 41 per cent of their deposits within two months and to those who have deposited over 10 million rupees, within one year.

Mr. Dayaratne undertook to submit the relevant Cabinet paper before Court through a motion and further stated that the mode of repayment plan to be disclosed on next hearing date fixed for June 25. The Fundamental Rights petition filed by Golden Key Credit Card Company depositors had cited the Monetary Board, the Finance Minister, Ministry Secretary, the Central Bank Governor, the Golden Key Credit Card Company, Lalith Kotelawala, Khavan Perera, Sicille Kotelawala, and seven others and the Attorney General as respondents.