Court bars CIFL case accused from selling Homagama property

Colombo Chief Magistrate Lal Bandara on Thursday ordered Deepthi Perera alias Chulaka Gunawardena, former Chairman, CIFL and first accused in the case pertaining to the failed finance company not to resort to any transaction or sale of Park Lane Residencies, Homagama where Aspic Homes, a subsidiary of CIFL, is constructing houses for sale on land worth Rs 1.3 billion that belongs to the UDA.

This follows a motion filed by t he CIFL ( Central Investment and Finance Ltd) Depositors Associat i o n (CIFLDA). This case was insti- tuted by the CID on a complaint made by the Central Bank that three accused – Deepthi Perera, Jayantha C. Wi c k r a m a r a t n e and Samarakoon B. Kondadeniya had allegedly defrauded a sum of Rs. 800 million which belongs to the CIFL depositors. The CIFLDA was included in this case as an aggrieved party. Further hearing was postponed to January 18.

Another case filed by the CIFLDA in the Commercial High Courts is seeking an order against Aspic Homes to recover Rs. 1.3 billion plus accumulated interest – the total amounting to Rs. 3.9 billion - and to be transferred to depositors, the money which was given to Aspic Homes under a joint venture agreement. This case will come up for hearing on October 23.

According to CIFLDA, while Aspic Homes has obtained the land on lease the agreement is that once the apartments are constructed on plots of land the deed is written in the buyer’s name and then the buyer owns that plot of land. Once the building with the land is sold, Aspic Homes would settle with the UDA with regard to the transfer of the land.