http://www.amarasara.info/amnews/ This is an XML content feed of; News Portal from Sri Lanka : Last 10 News Bulletins Copyright (c) 2006-2007 Web Wiz NewsPad - All Rights Reserved. Wed, 08 Sep 2010 07:42:58 +0000 Sun, 18 Apr 2010 22:08:35 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz NewsPad 1.02 30 www.amarasara.info/amnews/RSS_news_feed.asphttp://www.amarasara.info/amnews/images/amarasara-news1.jpghttp://www.amarasara.info/amnews/http://www.amarasara.info/amnews/rss_view_newsletter.asp?article=665Golden Key scam : While Central Bank struggles to raise liquid cash - Kotelawala and directors told "they cannot take it easy"
(18.04.2010 - Sunday Island, SL)

As the inadequacy of liquid cash continued to impede moves to repay Golden Key depositors, the Supreme Court appointed Committee of Chartered Accountants summoned Ceylinco Chairman Lalith Kotelawala and other directors for a discussion focusing largely on a more proactive role they should play to resolve this long-drawn crisis.

Kotelawala and the Directors/CEOs of Golden Key and its subsidiary companies were specifically told during the two-hour meeting at the Central Bank on Tuesday (April 6) that "they cannot relax and take it easy" while the Committee struggled to raise funds to settle investors who have been denied their capital plus interest for the past 15 months, officials said.
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]]>Sun, 18 Apr 2010 22:08:35 +0000http://www.amarasara.info/amnews/newsletter.asp?article=6652010-04-18 22:08:35 http://www.amarasara.info/amnews/rss_view_newsletter.asp?article=58414 months gone, AG yet to file indictment in Ceylinco cases
- by Bandula Sirimanna
(04.04.2010 - Sunday Times, SL)

The Attorney General is yet to file indictment against Ceylinco chief Lalith Kotelawala and other directors of Golden Key (GK) and two other subsidiaries despite the crisis exploding 14 months back in December 2008. Kotelawala and his co-directors are all out on bail after a period in remand.

AG’s department sources said that indictment was being prepared to charge the accused under the Penal Code but pointed out that the delay in filing indictment was due to the collection of evidence process which is still going on.
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]]>Sun, 04 Apr 2010 04:47:01 +0000http://www.amarasara.info/amnews/newsletter.asp?article=5842010-04-04 04:47:01 http://www.amarasara.info/amnews/rss_view_newsletter.asp?article=362Unfair to blame Central Bank : Lack of clear assets biggest hurdle to repay Golden Key depositors – CB Governor tells depositor representatives
(07.03.2010 - Sunday Island, SL)

The biggest hurdle in repaying Golden Key depositors is the difficulty in raising liquid cash as there are diverse complications in the assets declared by Ceylinco Chairman Lalith Kotelawala, Central Bank Governor Ajith Nivard Cabraal told representatives of Golden Key depositors’ associations last week.

The Central Bank has found that the assets declared by Kotelawala in terms of the Supreme Court directive are encumbered and there is no way they could be disposed of immediately to raise funds, he had said.
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]]>Sun, 07 Mar 2010 21:06:59 +0000http://www.amarasara.info/amnews/newsletter.asp?article=3622010-03-07 21:06:59 http://www.amarasara.info/amnews/rss_view_newsletter.asp?article=308Sham demo opposite Lake House
(04.03.2010 - Daily News, SL)

A group of people calling themselves depositors in a Ceylinco Group finance company shouted slogans against Lake House for reporting they were to be refunded their deposits but they are yet to receive the money. The protesters shouting slogans also alleged that Lake House newspapers had written untruth about their deposits.
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]]>Wed, 03 Mar 2010 20:30:11 +0000http://www.amarasara.info/amnews/newsletter.asp?article=3082010-03-03 20:30:11 http://www.amarasara.info/amnews/rss_view_newsletter.asp?article=183Golden Key depositors should not panic
(21.02.2010 - Sunday Observer, SL)

Depositors of the now defunct Golden Key Credit Card Company (GKCCC) are sceptical about the delay in receiving the full repayment of their deposits.

When contacted the Head of the Committee of Chartered Accountants, Prof. Lakshman R. Watawala said the repayment schedule is going ahead as planned according to money available and the sale of assets would take time due to the elections.
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]]>Mon, 22 Feb 2010 19:56:03 +0000http://www.amarasara.info/amnews/newsletter.asp?article=1832010-02-22 19:56:03 http://www.amarasara.info/amnews/rss_view_newsletter.asp?article=21Golden Key protest in Colombo
(14.02.2010 - Sunday Island, SL)

The Golden Key Depositors’ Society will stage a protest in Colombo at 10 am on March 3.

"We are badly disappointed as the Central Bank has so far not sold any of the assets of Ceylinco Chairman Lalith Kotelawala or those of the other directors", says Ms. Anusha Emmert, President of the Society.
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