Professional Independence of SEC Investigations ?
Friday, 22 February 2013
How does new SEC Chairman, Nalaka Godahewa, former Chairman, Divasa Finance, with his close business dealings with Dilith Jayaweera controlling Divasa Finance and other companies deal with SEC investigations that were pending against the following companies –
1. Colombo Land & Development Co. PLC, controlled also by Dilith Jayaweera and on which Nalaka Godahewa is Chairman ?
2. Citrus Leisure, formerly known as Hotel Reefcomber PLC, controlled by Dilith Jayaweera ?
Were not Nalaka Godahewa and Dilith Jayaweera in Singapore recently as at end of February 2013 together for a Board Meeting of Colombo Land & Development Co. PLC with the Singapore Directors of Colombo Land & Development Co. PLC ? Did they not stay at the same Hotel in Singapore ?
Attached are pages from the Report submitted to COPE by the SEC last August, giving the positions of the SEC investigations into Colombo Land & Development Co. PLC and Hotel Reefcomber PLC, later named changed to Citrus Leisure PLC.
With such cozy business dealings and overseas travel , how can one expect independent investigations into the above ? What had happened to these investigations ?
Did not Nalaka Godahewa as CEO of Sri Lanka Insurance give a very big advertising contract of Sri Lanka Insurance to Dilith Jayaweera’s Triad ?
Did Nalaka Godahewa make large deposits in Divasa Finance of Dilith Jayaweera to have become its Chairman ? Otherwise, what was his competence in the financial services sector ?
Did Nalaka Godahewa and Dilith Jayaweera working together with the help of Damian Fernando fix the Sale of a large volume of Shares of Lanka Hospitals PLC to an Indian company above the market price ? Was not the Seller a company of business magnate Harry Jayawardena ? Was it not reported that the Board of the Seller's company had approved the payment of about Rs. 125 Mn. as Commission for this Sale of its Shares of Lanka Hospitals PLC ? Whom was such Commission paid to ?
Should not the SEC investigate the above independently and deeply to protect the investing public and to enforce the law ?
Annexes
Don’t make scholars do the job of money collectors – VAC
FRIDAY, 22 FEBRUARY 2013
The government has made scholars in the education sector money collectors says the convener of ‘Voice Against Corruption’ (VAC) Wasantha Samarasinghe.
Mr. Samarasinghe said this speaking at a media conference held at Hotel Nippon today (22nd) to apprise the media regarding complaints received by VAC on collection of funds in the education sector.
He said VAC received 2616 complaints from masses in response to the request made to inform the organization regarding collections from school children and asked whether the government could continue to say no money is collected from school children.
Mr. Samarasinghe said complaints have been received on various types of collections from schools including that of admissions, paying of electricity and water bills, fixing gates, repairing chairs and desks, repairing official residences and added there were teachers, parents and past pupil associations among the complainants.
He charged that the 2008/38 circular has given legality to such collections by school managements committees and called upon principals and teachers not to be intimidated by circulars or threats from the government. He said a common broad opposition for such injustices should be garnered against the moves of the government instead of isolated protests and called upon the aggrieved sections to come forward.
