CA stays execution of warrants to arrest Ravi K
The Court of Appeal (CA) on Monday ( 6) issued an interim order staying the execution of warrants issued by the Colombo Fort Magistrate to arrest former Finance Minister Ravi Karunanayake and five others over charges of criminal misappropriation of nearly Rs 52 billion in connection with the issuance of Central Bank treasury bonds in 2016. The order was issued in response to writ petitions filed by Mr Karunanayake and others.
The CA issued the interim order preventing the arrest and remand of the petitioners until a final determination is given regarding their petitions. The bench comprising Justices A H M D Nawaz ( President, CA), Shiran Gonaratne and Sobitha Rajakaruna however, emphasised that the order does not hinder the investigation into the incident from continuing.
The court ordered that any objections against the order should be filed within the next six weeks, and postponed the hearing until August 25.
The writ petitions had been filed by former Minister Ravi Karunanayake, Chairman of Perpetual Treasuries Limited ( PTL) Geoffrey Aloysius, its owner Arjun Aloysius, Chief Executive Officer Kasun Palisena, Director Chitta Ranjan Hulugalle and Central Bank officials Indika Saman Kumara and S Pathumananthan. All have been named suspects in the case.
Senior Deputy Solicitor General ( SDSG) Milinda Gunathilake, who appeared for the respondents, Acting Inspector General of Police, Director of the
Criminal Investigation Department and the Attorney General, told the court that investigations into the suspects have been conducted under the Public Property Act, and that police had powers to arrest the suspects even without a warrant.
SDSG Gunathilake also stated that investigations have uncovered that during the said treasury bond auction, former Minister Ravi Karunanayake had acted in a manner that was advantageous to PTL.
He claimed that the writ petitions had been filed with the aim of obstructing the ongoing investigation into the treasury bond auction and argued that the CA could not grant the relief prayed for by the petitioners.
Faiz Mustapha, PC, who appeared for the petitioners, contended that the manner in which police went about their investigation was highly unsatisfactory.