In fairness to the depositors the entire activities of the CB with regard to the failed finance companies must be probed to punish the guilty.
finance companies and it is suspected that there may be some CB officials too who are involved in "deals". First and foremost there should be an impartial investigation into the alleged deals involved by the CB officials.
He indicated that there are no notes to accounts and no explanations as to why these assets were written off and the directors are responsible to take action on those who initially transferred these assets.
Some CB officials 'fooled us'
He explained as to how the CB has fooled them from ‘ left, right and centre’ firstly with plans to merge the failed finance companies with the banks and financial institutions that were running well which did not materialize. The CB has also informed the IMF and the World Bank about this proposed merger. Then they were asked to withdraw the Supreme Court case they have instituted against the CB and in return to settle the depositors; this too didn’t materialise.
In an October 2016 media release, the CB indicated that the depositors’ capital as well as the interest would be settled with a Rs. 20 billion investment and to commence settlements effective from January 2017, which died off with no results, he indicated.
While the CB utterly failed to keep to any of these promises, the banking regulator is now clamouring to liquidate these failed finance companies, he said.
He said that they suspect that all the fraudulent activities committed by Deepthi Perera and the couple, Roscoe and Swarna Maloney who allegedly removed chunks of funds from CIFL would have happened with the knowledge of some of the CB officials. In fairness to the depositors the entire activities of the CB with regard to the failed finance companies must be probed to punish the guilty.
“We are now uniting with the depositors of other failed finance companies to fight back to obtain relief,” he said and thanked the media for supporting their cause. He urged the media to be with them to rectify this callous injustice which has now become a fight between life and death as many of their members are dying.