Aug 02, 2018

3 Banks given Emirates-held shares of SriLankan Featured

Going against a cabinet decision to grant, to the Bank of Ceylon, a 43.63 per cent stake, worth 53 million US dollars, of SriLankan Airlines being held by Emirates Airlines, the shares were also given to the People’s Bank, National Savings Bank and the Employee’s Provident Fund, it came to light yesterday (01).

The revelation was made by secretary of the airline Dalryn Tirukumar when she gave evidence before the presidential commission investigating the SriLankan, Mihin Lanka and SriLankan Catering.

Being cross-examined by additional solicitor general Neil Unambowa, the witness said that at the time of the handover of shares, Nishantha Wickremasinghe was the chairman of the airline.

Submitting documentary evidence, she said the BoC was given 12 m shares, PB four m shares, NSB four m shares and the EPF one million shares.

Cabinet decision

That is despite the cabinet decision that was made on 04 May 2010.

The commission ordered the witness to submit any further related documentary evidence on August 06.

She further said that she was appointed secretary of the airline only on 01 September 2013.