Bail condition on Perpetual Treasuries CEO relaxed

The Colombo Magistrate’s Court today (20) ordered to relax a bail condition imposed on the CEO of Perpetual Treasuries Limited (PTL) Kasun Palisena, who is named as one of the main suspects of the Bond Scam case.

When the case was taken up before the Colombo Magistrate, the defence attorneys representing Palisena requested the court to relax the bail condition on their client which mandated him to report to the Criminal Investigation Department (CID) on every Sunday.

Considering the submissions Chief Colombo Magistrate Lanka Jayaratne ordered the Perpetual Treasuries CEO to report to the CID on the last Sunday of every month.

The attorneys representing the Perpetual Treasuries Limited sought the court to void the order issued by the Central Bank suspending the company from investing money in its Real Time Gross Settlement System account to the permanent investment facility deposit account.

A Central Bank officer told the court that the relevant step was taken in accordance with the decision of the Monetary Board of the bank.

The chief magistrate ordered the Central Bank officer to present written submissions in this regard at the next hearing of the case.

Accordingly, the case will be taken up again on the 28th of October as per the chief magistrate’s orders.

Recommended For You

About the Author: Editor