Colombo Chief Magistrate Prasanna Alwis refused bail for two fertilizer company directors due to potential arrest risk in a government fund fraud investigation related to fertilizer subsidies for farmers.
The magistrate instructed the defendants to cooperate with investigations into alleged misuse of fertilizer subsidies intended for farmers.
The Criminal Investigation Department is probing the alleged misappropriation, focusing on the sale of imported fertilizer at Rs 2,500 to farmers when it was purchased for Rs 1,100 and later sold for Rs 3,500.
The investigation pertains to the fertilizer subsidy program initiated by the National Fertilizer Secretariat in 2018.
