Aloysius Mahendran Poised to Invest in Press, TV Electronic Media and Car Manufacturing?

Aloysius Mahendran, son in law of Former CB Governor Arjuna Mahendran, figured in Central Bank bond scam reported to have planned to invest in the press and electronic Media along with a car manufacturing complex.

Srilanka press and Social Media revealed his plan to the public. As a prelude, he has invited Mawbima Editor and his Senior Staff to join his new media venture. In addition he has initiated negotiations to acquire an operating TV station.

Sale or transfer of a media station requires prior approval of the defence cum media ministry approval along with the approval of Telecommunication Regulatory Commission (TRC) of Srilanka to continue to use same frequency. This regulation was introduced by the previous Government to prevent selling of a media station to the then opposition party.

  Aloysius Mahendran has already purchased a land at Boralesgamuwa to establish a car manufacturing company in collaboration with FUJI heavy duty Car Company, a leading car manufacturer. This project will take off the ground in the 1^st quarter of 2017.

 However, steps said to have been taken by the Government to make use of the regulations in force to prevent either purchase or lease of an electronic media station by Aloysius Mahendran, Government sources said.