Mar 15, 2017

Cabraal’s sister was a directress at Perpetual Group Featured

There has been a conflict of interests between top officials of the Central Bank and the Perpetual Properties since the outset as former two governors of the bank are related to two directors of the Perpetual Treasuries Group, the presidential commission probing the CB bond sales was told yesterday (14).

Ex-governor Arjun Mahendran’s son-in-law Arjun Aloysius is managing director of the Group, which also had Srima Wickramasinghe, a sister of former governor Ajith Nivard Cabraal, as a directress at Perpetual Investment Holdings.

This transpired as a result of an inquiry made by commission member P.S. Jayawardena, Supreme Court judge.

The commission, which has K.T. Chitrasiri, Supreme Court judge, as chairman and retired deputy auditor general V. Kandasamy as member, will resume sittings this morning at Hulftsdorp in Colombo.