The cash-strapped Sri Lankan government has directed the Inland Revenue Department (IRD) to recover all taxes payable by the Golden Credit card company and its depositors numbering around 7,200, a move that would dismay depositors. This money will be recovered from the sales of assets of the company and its directors including Ceylinco Chief Lalith Kotelawala before making repayments to depositors, informed sources told the Sunday Times FT.
A fresh fundamental rights petition was filed on the oil hedging crisis this Thursday seeking an interim order from the Supreme Court to restrain the Ceylon Petroleum Corporation (CPC) and the Treasury Secretary from participating in any arbitration proceedings or litigation with any of the banks involved in the hedging contracts until a final determination is made on the application.
The cash-strapped Sri Lankan government has directed the Inland Revenue Department (IRD) to recover all taxes payable by the Golden Credit card company and its depositors numbering around 7,200, a move that would dismay depositors.