Ten vital issues in warrant

The warrant issued to the Commission seeks a probe into alleged irregularities in: (a) Infusion of funds through share capital and borrowings including funding by the General Treasury, Bank of Ceylon, People’s Bank and any other financial institution or entity, and investment of such funds.

(b) Establishment, operations, and winding up

of Mihin Lanka.

(c) Termination of agreements between Sri Lankan Airlines and Emirates, the International Airline of the United Arab Emirates, including reasons and ramifications thereof.

(d) Entering into, extension, and cancellation of agreements pertaining to the purchase, sale, lease, sale and leaseback, transfer, exchange, release, and disposal of aircraft and any other assets.

(e) Procurement of goods and services and re-fleeting of aircraft, including purchase, sale, lease, sale and leaseback, transfer, exchange, release, and disposal of aircraft and any other assets, value of which exceeds Rs. 50 million.

(f) Hiring and appointment of agents, brokers, consultants, firms and any other individual or entity for the provision of goods, services or any other task.

(g) Opening, maintenance and discontinuation of

route network and offices in other countries. (h) Transactions between SriLankan Airlines,

SriLankan Catering and Mihin Lanka.

(i) Human resource management including recruitment, appointment, remuneration, promotion, transfer, retrenchment, and retirement of personnel, appointment of Boards of Directors, Chief Executive Officers, Chairmen, and other senior management.

(j) Financial reporting, compliance with applicable accounting and auditing standards, and financial and operational performance and condition.