Failed finance firm directors face indictment

The Supreme Court this week directed the Deputy Solicitor General ( DSG) Viraj Dayaratne to consider the filing of indictment against the directors of failed finance company Okanda Finance.

The three- member Bench comprising Chief Justice Mohan Pieris, Justices C. Ekanayake and Priyasath Dep directed the DSG to consider the action “if appropriate having regard to the material that is available as submitted for the Attorney General’s considera- tion.”

Around 800 depositors claim that the failed finance company owes them around Rs. 48 million.

Ms. Deepika Ratnayake, counsel appearing for the Liquidator, submitted to Court that efforts are being made to get at the money realised from the sale of assets of the company and its directors.

J. C. Weliamuna, counsel for the depositors told Court that no meaningful steps have been taken in this regard for a consider- able length of time.

Faisz Mustapha PC., said the matter is being handled in a meaningful way presently as directed by the Commercial High Court.

The Supreme Court Registrar was directed to communicate the SC order to the Judge of the Commercial High Court who is required to ensure that the liquidation takes place as expeditiously as possible.

The case is to be called again before the Chief Justice on December 6.