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Court granted Leave to Proceed in SCFR 195/2022 and 212/2022

In SCFR 212/2022, leave was granted against former president Gotabhaya Rajapakse, former Finance Ministers Mahinda Rajapakse and Basil Rajapakse, former Governors of the Central Bank, Professor W.D Lakshman and Ajith Nivard Cabraal, the Monetary Board of Sri Lanka and Former Secretary to the treasury S.R Attygala.

In SCFR 195/2022

Leave was granted against former president Gotabhaya Rajapakse, Former Finance Ministers Mahinda Rajapakse and Basil Rajapakse, the Cabinet of Ministers, the Monetary Board of Sri Lanka, Former Governors of the Central Bank, Professor W.D Lakshman and Ajith Nivard Cabraal, Former Secretary to the treasury S.R Attygala, Former Secretary to the President P.B. Jayasundere, Former Finance Minister Ali Sabry P.C., present members of the Monetary Board S.S.W. Kumarasinghe. Court also directed that present members of the Monetary Board who served on the Monetary Board during the matters in question, namely Sanjeeva Jayawardena, P.C., and Dr. Ranee Jayamaha be added as Respondents in this Application.

Court also made the following orders:

  1. The Auditor General to conduct an audit and submit a report by the 30th of November, in respect of:

a. The decision made by the Monetary Board to set the value of the Sri Lankan rupee at Rs. 203 against the US Dollar and all matters connected thereto.

b. The delay in seeking assistance from the IMF and all matters connected thereto.

c. All matters relating to the settlement of the sovereign bond of US Dollars 500 million on 18th January 2022, using foreign reserves

d. An audit on the loss caused to the Central Bank by such payments.

  1. The Court also directed that Dr. Nandalal Weerasinghe, governor of the Central Bank produce copies of all communications and recommendations given to the former president Gotabhaya Rajapakse, Former Finance Ministers Mahinda Rajapakse and Basil Rajapakse, the Cabinet of Ministers, the Monetary Board of Sri Lanka, Former Governors of the Central Bank, Professor W.D Lakshman and Ajith Nivard Cabraal, Former Secretary to the treasury S.R Attygala, by the Central Bank on or before the 30th of November 2022.
  2. The court also directed the Monetary Board to produce copies of all reports given to Former Ministers Mahinda Rajapakse and Basil Rajapakse, as per Section 64 and 68 of the Monetary Law Act, on or before 30th of November 2022.

Matters to be mentioned on 9th of January 2023.

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