Sep 02, 2019

Sinhaputhra's license to be revoked? Featured

The Monetary Board of the Central Bank of Sri Lanka has reportedly issued a warning to Sinhaputhra Finance PLC, a finance company listed in the Colombo Stock Exchange.

Issuing the warning the Monetary Board has informed that the license granted to engage in financial businesses will be revoked.

The warning is said to have been issued considering the company's financial condition.

In response Sinhaputhra Finance PLC has raised their objection.

Sinhaputhra Finance PLC has said that they are objecting the revocation of their license and are currently engaged in discussions with a new investor to improve their financial condition.