The Central Bank of Sri Lanka (CBSL) has imposed freezing orders under the Finance Business Act, No. 42 of 2011, preventing six companies and their directors from disposing of, transferring or otherwise dealing with their assets and other properties.
The orders have been issued in accordance with Section 44 of the Finance Business Act by the Director of the Department of Non-Bank Financial Institution Supervision of the Central Bank. The Colombo High Court has confirmed and extended the freezing orders in respect of the companies listed in the notice.
The six companies are Kasagala Green Plantations (Private) Limited, Ceylon Green Life Plantation (Private) Limited, Singhe Capital Investment Limited, Pro Shop Adverticing Holdings (Private) Limited, Athans International Education Centre (Private) Limited, and Iyon Lanka Investment and Film Production International Company (Private) Limited.
The Central Bank has urged the public to deposit money only with institutions legally authorised to accept deposits. It also stated that investigations are currently being conducted into several companies and individuals based on complaints regarding the conduct of finance business and/or acceptance of deposits in violation of the Finance Business Act.
The public has been requested to inform the Central Bank if they become aware of entities or individuals accepting deposits in violation of the Act.
