Perpetual Capital Holdings CEO Arjun Aloysius was requested to provide information including audited accounts, bank statements and other relevant documentation from 2013 to 2017, of the W. M. Mendis and Company to the Treasury Bond Commission, it was revealed yesterday.
The letter seeking the aforesaid information had been sent on August 8,2017.
The legal representative of Arjun Aloysius, President’s Counsel Anuja Premaratne yesterday sought a time extension to submit the necessary documentation. “We received this letter yesterday. It requests to provide the information on or before August 10, which would be tomorrow. It is not possible for us comply with the letter due to several difficulties.”
Premaratne PC pointed out that W. M. Mendis and Company is a separate legal entity from the Perpetual Capital Holdings. “Subjected to the company’s objection, we will try to provide the necessary information by August 16,2017,” he said.
Deputy Solicitor General Milinda Gunatilake informed the PCoI that they have not yet received details on Free Lanka Group, while pointing out the importance of getting the web of companies owned by Arjun Aloysius and Geoffrey Aloysius out in the open.
A reference was made to a letter dated July 27,2017 sent by the Treasury Bond Commission to the Perpetual Capital Holdings requesting information on its transactions from January 2015.
Chairman Justice K.T. Chitrasiri observed that Free Lanka Group has not sent a legal representative to the PCoI.
Counsel for PTL Nihal Fernando said the matter does not fall under his purview. Lawyer representing Perpetual Capital Holdings informed the PCoI that Free Lanka Group is a separate company which should disclose its details on its own.
Commission’s Chairman K.T. Chitrasiri said the PCoI will issue a summon to Free Lanka Group in necessity arise.
Meanwhile, Commissioner Supreme Court Justice P.S. Jayawardena yesterday questioned Perpetual Treasuries Limited CEO Kasun Palisena on PTL’s frequent trading partners.
Palisena was questioned by Justice Jayawardena while he was testifying before the Presidential Commission of Inquiry investigating and inquiring into the Treasury bond issue, for the second consecutive day. Evidence was led by PTL lawyer President’s Counsel Nihal Fernando.
Justice Jayawardena observed that some traders have shown interest in doing deals with PTL. He also noted that there was number of internal trading going on between Perpetual Asset Management, Perpetual Capital Holdings, Walt and Rows and PTL.
Justice Jayawardena requested Palisena to list out other traders who frequently trade with his company.
Palisena told WealthTrust securities, First Capital Holdings, Natwealth Group, Capital Alliance, Bank of Ceylon and Acuity Group are PTL’s frequent trading partners.
Justice Jayawardena asked Palisena “There were only few deals with Employee’s Provident Fund by PTL from 28 March 2014 up until February 27,2015,” Palisena replied, “Most probably yes. The EPF was not a frequent trading partner of our company.”
Palisena told the Commission that due to allegations all over the media of a possible Treasury bond scam where PTL was involved, it lost some traders such as the Bank of Ceylon.
“Almost all the other traders want to carry out business with us. Some are even coming after us!” PTL CEO Palisena said.
“Who are these dealers coming after you?” Fernando PC asked. However, Fernando PC did not receive a reply from Palisena. Then Fernando PC went on to say “maybe I should receive instructions on the topic.”