Nov 07, 2016

Govt. suspects Aloysius’ assets! Featured

There are internal discussions within the government to demand a prompt investigation into the assets and earnings of Perpetual Treasuries Ltd, owned by Arjun Aloysius, son-in-law of former Central Bank governor Arjun Mahendran.

Parties to these discussions have become concerned by Aloysius’ being cleared of the charges arising from the CB bond issue and the company’s having increased its shares in financial companies.

Of special note were Perpetual Treasuries’ having invested Rs. 1.6 billion in Central Finance and having bought a 10 per cent stake of NDB.

Parties to these discussions have decided to raise the matter with the president.

They are due to meet financial consultants and lawyers to obtain advice on the legal aspects of the issues under their scrutiny.

Also, they have discussed a possible challenge emanating to them from the plans by Aloysius to start a major media network.

Meanwhile, the president is of the view that the government should get cleared from the matter following a proper investigation, government sources say.

Speaking at a party function in Maharagama, he has stressed the need for such a step.

Not illegal, continues to deal with CB

When contacted, financial experts said that as a primary dealer, Perpetual Treasuries’ having sold the bonds it had bought to earn profits was not an illegal activity.

The CB bond issue appears to be legal, and if any technical issue has arisen that relates to the government, and not to the company that had made the investment.

A statement issued by the CB is proof that Perpetual Treasuries continues deal with the bank.