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Banks scandal: Big names owe billions to state banks
By Chandani Kirinde
More than 100 companies - including some big names - owe billions of rupees to state banks, parliament was told. A motion introduced by Kandy District PA parliamentarian Thilina Bandara Tennekoon and taken up for an adjournment debate provided a list of the companies which owe huge sums plus interest to the Bank of Ceylon and the People's Bank.

The list includes: Yasodha Holdings Rs. 3027 million, Hingurana Sugar Corporation Rs.1068 million, Grayline Apparels (Pvt) Ltd Rs.811 million, Good Fellow (Pvt.) Ltd. Rs. 582 million, S.D. Gunadasa Rs. 521 million, Rekan Lanka (Pvt) Ltd. Rs. 422 million, Sheik Industries Rs. 304 million, Pelwatta Sugar Corporation Ltd. Rs. 271 million, Duro Synthetic Textiles Mills Ltd. Rs. 269 million and United Spinning and Weaving Mills Ltd. Rs. 212 million.

Responding to the MP's plea for these huge sums to be recovered forthwith, Deputy Finance Minister Bandula Gunawardena said the government would introduce new legislation for the recovery of bank loans shortly. He assured the government had no intention of writing off the loans of any of the defaulters.

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