SriLankan Airlines Internal Auditor Mahesh Shirantha Nanayakkara said Kuma Stickers had been given the contract ignoring instructions of SriLankan Airlines pertaining to insurance policies on advertising hoardings.
The approved policy on insurance was was for Rs 10 million. However it was given to Kuma Stickers for an insurance policy of Rs 600,000.
Nanayakkara giving evidence at the Presidential Commission to inquire into allegations of large scale frauds and malpractices in SriLankan Airlines said according to instructions given by the Sri Lankan Airlines, an insurance policy of Rs 10 million had to be given to advertisement hoarding agencies.
He said there was no consideration given to the tickets issued to Carlton Sports in 2013 and added that the profits earned through these transactions had to be examined.
He said SriLankan Airlines received government auditing in 2017 and there was no such procedure before that.
“Vital information and documents from 2007 to 2014 were found during the auditing process and these will be submitted to the higher officials in writing,” he said.