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Court approves payments to Golden Key depositors

Jun 29, 2011 11:27:40 AM - itnnews.lk

The Supreme Court has given its nod for the implementation of the plan to make payments to depositors of the Golden Key Company who were deprived of their deposits.

The Supreme Court reached this decision when a Fundamental rights petition presented by the Golden Key depositors was taken up for hearing today. The payment plan was crafted after several rounds of discussions between the Directors of the Golden Key Company and the depositors who lost their deposits. This new payment plan was presented to Courts and it was proposed to complete the payment of cash of the depositors within four years. It was mentioned that 30 percent should be paid within the first year. Fixing the next hearing date of the petition for the 29th of September, the Court ordered that the progress reports of the work should be presented to Courts on this day.