The FCID has unearthed staggering evidence and is currently investigating Bettans group of companies defaulting on 299 million borrowed from Lankaputhra bank !! and that fades in comparison to the 581 million given to Tri Star apparels!! oh.. by the way laska.asia found out the loan was provided interest free ..
it is public knowledge that Bettans chairman Chandralal De Silva and deceased Tristar chairman Kumar devapura were very close associates of the former regime but to give them such amounts of loans through Lankaputhra bank which was started with the Tax payers money is broad day light robbery
Bettans had reportedly applied for a loan of 300 million and after much deliberation the amount was reduced and 299 million was paid of that bettans had manged to pay 70 million which is truly praise worthy but they simply forgot the balance ! the chairman chandralal was a member of the COYLE at that time.
according to statements gathered they were dispersed due to political influence without proper collateral and had failed to recover the funds, a probe by the Financial Crimes Investigation Division (FCID) has revealed.
The investigations were carried out on the Lankaputhra Development Bank Limited, a licensed specialised bank fully owned by the Government. This was done on a complaint by the Finance Ministry.
As the bank lacked funds to release the loan, the funds were released through the Treasury to the bank and then to the exporter under the influence of a former Treasury official, the FCID found.
In another case, Rs. 75 million had been disbursed to a fisheries organisation in Trincomalee at an interest rate of 14 per cent in 2007. The money had not been paid back and now the capital and interest have accumulated to Rs. 136 million.
In another case, the bank had released a loan of Rs. 3 million at an interest rate of 10 per cent after keeping 42 perch land owned by a Rajamaha Viharaya as security, though temple land cannot be sold or mortgaged.
A separate investigation regarding these transactions is being carried out by the Finance Ministry on over 1 billion rupees of potical loans
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