A Sri Lankan court today granted bail to the former Chairman of the National Savings Bank (NSB), Pradeep Kariyawasam, who is the husband of impeached chief justice Dr. Shirani Bandaranayake.
Colombo Chief Magistrate Rashmi Singappuli released Kariyawasam on two personal bails of Rs. 10 million each.
The former Chairman of National Savings Bank is charged of illegally and intentionally causing loses to the bank when NSB purchased The Finance Company shares.
The Bribery Commission has filed legal action against Kariyawasam for alleged corruption in a transaction where the NSB purchased The Finance Company shares at an inflated price in April 2012.
The charges against Kariyawasam involve acquiring over 7.86 million shares of The Finance Company for over Rs 391million. The NSB has purchased 13.02 percent stake of The Finance Company at Rs. 49.74 a share when the market price was around Rs.30-31 a share.
Following the controversy over the share transaction, Kariyawasam resigned from the chairman post at NSB.
The courts permitted the Deputy Solicitor General Suhada Gamlath to amend the charge sheet against Kariyawasam.
The court ordered Kariyawasam to surrender his passport and the case was postponed to April 26.
Attorneys at Law Saliya Peiris and Upul Kuamarapperuma appeared for the accused.
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