SC fixes FR petition for October 11

W. M. Mendis and Company Ltd.

Supreme Court yesterday (19) fixed for support on October 11 for granting of leave in respect of the fundamental rights petition filed by W. M. Mendis & Company Ltd.

The Bench comprised Justices Sisira J. de Abrew, Nalin Perera and Lalith Dehideniya.

One of the leading distillery company the W. M. Mendis and Company Ltd subsidiary of Perpetual Capital Holdings – has filed fundamental rights violation petition before the Supreme Court contesting the restriction on its Accounts by the Monetary Board of the Central Bank.

The petition was filed by it and its Chairman Arjun Joseph Aloysius, citing Monetary Board, Central Bank Governor Dr. Indrajith Coomaraswamy, Deputy Governor C. J. P. Siriwardana, Acting Director of the Department of Supervision of Non-bank Financial Institutions W. Ranaweera, Perpetual Treasuries Ltd and the Attorney General as Respondents.

1st Petitioner, Mendis and Company Ltd was established in 1947 and is engaged in the business of distilling, manufacturing, bottling, distributing and marketing a variety of spirits in the Country and is a 99% owned subsidiary of the Perpetual Capital Holdings (Pvt) Ltd.

Petitioners state that the accounts maintained in licenced banks and CDS accounts maintained in the Colombo Stock Exchange by the individuals and entities related to Perpetual Treasuries Limited have been restricted. They stated that the said “restriction” had been imposed on 24 Bank Accounts of the 1st Petitioner Company. President’s Counsel Gamini Marapana with Nalin Marapana appeared for the Petitioner W. M. Mendis and Company Ltd while Senior Additional Solicitor General Yasantha Kodagoda appeared for the Attorney General.

W. M. Mendis and Co. filed FR violation petition before the SC contesting restrictions on its Accounts by the Monetary Board of the Central Bank