The Bond Issue Goes To Supreme Court – Full Text Of The Petition

A team of professional and experienced bankers and treasury managers and Good Governance activists Dr G. Usvatte-Aratchi, Dr. A.C. Visvalingam and Chandra Jayaratne yesterday have submitted a petition to the Supreme Court (SC FR 107/15) re the controversial Treasury Bond issue.

The Central Bank Governor – Arjuna Mahendran

The petitioners request;

(a) The Monetary Board to carry out an independent inquiry by a competent panel of professionals well versed in the rules, systems, procedures and processes applicable to the public debt management under the supervision of Court and to report thereon ; and

(b) Direct the Monetary Board and other associated Respondents, in consultation with stakeholders, to formulate new systems, processes, rules and regulatory frameworks which assure transparency and best good governance practices are in place in respect of future public debt issuance

This public interest petition has been filed through, Attorney at Law Ms. Lilanthi De Silva and has been settled and will be supported by Attorney at Law, Mr. Saliya Peiris and Attorney at Law, Mr. Pulasthi Hewamanne.

To read the petition click here