The Court of Appeal has issued a writ order stating that two cases filed by the Attorney General against former Finance Minister Ravi Karunanayake at the Colombo Permanent High Court Trial at Bar under the Public Property Act cannot be sustained. The two cases were filed to allege criminal misappropriation of public funds at two bond auctions conducted by the Central Bank of Sri Lanka on the 29th and 31st of March 2016. The writ order was issued by Justices Sobhitha Rajakaruna and Dhammika Ganepola on Tuesday, with the two cases being taken up on the 28.
He further said in his petition that the Central Bank was at that time a subject gazetted under then Prime Minister Ranil Wickremesinghe and three State Banks were gazetted as a subject under the Ministry of State Enterprises under Kabir Hashim, and hence, Karunanayake was not vested with powers to provide legally binding instructions to the three State Banks or assurances on behalf of the Central Bank as alleged in the conclusions of the Commission of Inquiry.
Pointing out that the Commission of Inquiry has failed to consider the legal position, Karunanayake said the decision made by the Attorney General based on the information pertaining to the alleged meeting held on 28th March 2016 is ultra vires.
Former Finance Minister Ravi Karunanayake had named the Attorney General, the Registrar of Colombo High Court, the Member of the Commission of Inquiry and several others as respondents in the petition.
