The case was instituted by the Attorney General against Perpetual Treasuries Ltd., former Central Bank Governor Arjuna Mahendran, former Finance Minister Ravi Karunanayake and several others over allegations relating to the misappropriation of state funds during a Treasury bond auction conducted by the Central Bank in March 2016.
The judgment was delivered following an appeal filed by the Attorney General challenging the High Court’s earlier determination.
The Supreme Court ruling was delivered by Justice Mahinda Samayawardhena, with the concurrence of Chief Justice Preethi Padman Surasena and Justices Shiran Gunaratne, Achala Wengappuli and Arjuna Obeyesekere.
Accordingly, the Supreme Court’s decision removes the legal barrier imposed by the High Court, allowing the Public Property Act charges against the accused parties to proceed.
