New company to acquire Golden Key assets
Reference to the news that a new company is to acquire the Golden Key assets, most depositors are completely upset and appear to be between the devil and the deep blue sea. Our deposit which should have been returned in December 2008, is stilll not given. Even the monthly interest paid had been denied from December 2008. We only received Rs 100,000 some months ago but not the two lakhs which should have been paid to us last month (September).
The Watawala team entrusted to settle our problems appear to have spent Rs. 25 million as expenses-according to the President of one union Ms. Dushanthi Hapugoda. We are also made to understand that the expenditure is somewhere in the range of Rs. 45 million. Such expenditure, we depositors are unable to afford.
President of the other association Ms. Anusha Emmert has already appealed to Court against the appointment of this company whose assets available now is stated to be Rs. 2.2 billion whereas liabilities are estimated at Rs. 26 billion. Most depositors believe that this company may well end up as another liability to us. Who are the competent members of depositors with knowledge and experience, with time to spare, who could devote time and what will be their cost? How long will they take to finally settle our dues?
It’s time that the Central Bank directly assist us in this issue to grant us due relief, early.
Jeoffrey Gunasekera,
Colombo 5.
CB role of regulating finance companies
The Governor, Central Bank recently told the media that the Central Bank will never allow a single bank or a registered finance company to crash. Surely he is aware that already one finance company has ‘crashed’. The Industrial Finance Ltd. a company regulated by the Central Bank has not repaid the depositors the capital of matured deposits and no interest payments have been made for the past one year or so.
To make matters worse the man who is in charge relates various stories to various depositors when approached, but nothing has happened to resolve the issue. The depositors are totally kept in the dark as to the status of the company. However the biggest concern is the deadly silence maintained by the Central Bank on this matter.
Srilal de Silva
Colombo |
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