New investor will repay depositors’ money – ETI

(FASTNEWS|COLOMBO) – The ETI Finance Company will be restructured under a new investor and necessary arrangements will be taken to repay the depositors’ money accordingly, ETI Finance Ltd informed the Supreme Court yesterday.

President’s Counsel Geoffrey Alagaratnam appearing for the directors of the ETI Finance made this revelation pursuant to a Fundamental Rights petition filed by ETI depositors’ association seeking an order directing the Central Bank to seize all the immovable and movable assets belonging to ETI Finance Ltd and its directors.

Alagaratnam further stated that ETI Finance Ltd will be restructured under the supervision of the Central Bank of Sri Lanka.