Amending Law to Recover Losses in CB Bond Scam

The  government  is ready  to amend existing law if required,  to unable  recovery of losses in the controversial  sale of Central Bank Bond , the Deputy Minister,  Eran Wickramaratne said,  in a news conference held yesterday.  He further said,  in case the existing laws do not have provisions  to recover the losses incurred,  the Government is all out to amend the law. he said .   JVP MP, Sunil Handunnetti,   who is the chairman of COPE could refer the bond scam to the CID , FCID, or the Bribery Commission. We will support him on this matter, he said. Adding  that further investigation might disclose how perpetual treasury   had carried out  its activities.

Responding  to the statement  by the former COPE Chairman D E W Gunasekera,   that  Ranil Wickramasinghe is also responsible for the scam, the Deputy Minister said , PM was in no way  responsible for the act  of the Former Central Bank Governor,  though he had appointed him to the post.

 Observers say,  there is provision in our laws to recover losses under ” Unjust enrichment”   provision.   But under this provision  only  Taxes on capital goods  could be recovered. Other than this  recovery  under Civil Law  is very remote.