Bail decision on Ravi & other bond scam accused tomorrow

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Seven suspects including former Minister Ravi Karunanayake, who were taken into custody over the Central Bank bond scam, have been further remanded until tomorrow (April 01).

They are accused of criminal misappropriation of bonds valued at Rs. 1.5 billion during Central Bank’s 2016 bond auction.

The suspects were produced before a Trial-at-Bar hearing the legal matters on Central Bank Treasury Bond auctions held between March 29 and March 31, 2016.

The bench consisting of Judges Amal Ranaraja, Namal Balalle and Aditya Patabendige is expected to deliver a decision tomorrow with regard to granting bail to the suspects.

On March 26, the judge bench ruled that the approval of the Attorney General is not required to grant bail to the accused.

Deputy Solicitor General Priyantha Navana who appeared on behalf of the Attorney General today sought the judge bench to reconsider its ruling.

However, following a lengthy presentation of submissions, the chair of the judge bench Judge Amal Ranaraja dismissing the request, stressed that the relevant decision was delivered after a thorough study of the Code of Criminal Procedure and Judicature Act.

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