March 23, Colombo (LNW): Legal proceedings have been initiated against former minister Arjuna Ranatunga and former Ceylon Petroleum Corporation chairman Dhammika Ranatunga, who were formally served indictments before the Colombo High Court on charges linked to alleged corruption.
Following their appearance in court, both defendants were granted bail under two sureties of Rs. 5 million each. The matter has been scheduled for a pre-trial conference on May 15, where further legal proceedings are expected to be outlined.
Prosecutors allege that the accused were involved in decisions that resulted in substantial financial losses to the state-run petroleum body. The case centres on the cancellation of several long-term fuel procurement contracts during the 2017–2018 period, which were reportedly intended to secure supplies over a six-month duration.
Instead, authorities claim that a series of short-term purchases were arranged at significantly higher prices, leading to an estimated loss running into hundreds of millions of rupees. The charges include accusations of facilitating and supporting these transactions in a manner deemed detrimental to public finances.