The failed Golden Key Credit Card Company has so far failed to bring in Rs. 1 billion as a threshold payment to commence repayment to depositors on sums below Rs 1 million based on a formula prepared by a court-approved committee.
The Chairman and Directors of the Company have not responded to the directive issued by the Supreme Court last month, the Mt. Lavinia Magistrate, Harsha Setunga was informed by State Counsel Damith Thotawatte when the GK fraud case was taken up on Thursday. The assurance given by them to submit the balance payment a scheme of payment within a period of four weeks has not been fulfilled, he said. The company has no funds at the moment, the State Counsel added.
All the suspects including Lalith Kotelawala were further remanded and court was informed that the 16th suspect, V.Nallan Tuwan had died due to health reasons. Court was informed that he was granted bail on medical grounds and was undergoing treatment before his death.
Meanwhile a massive protest demonstration was held at the Fort railway station on Friday with the participation of hundreds of depositors of GK, F&G and Ceylinco Shriram urging the authorities to find an immediate redress to their financial crisis. They displaced placards and banners condemning the directors of Ceylinco for misusing their money. They also brought a coffin in a procession to Colombo Fort symbolizing the plight of seven depositors who died under tragic circumstances, one of them having committed suicide. |
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