Arjun Aloysius and Kasun Palisena granted bail

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After spending nearly a year in remand custody, Perpetual Treasuries Limited owner Arjun Aloysius and its CEO Kasun Palisena have been granted bail by the Colombo Chief Magistrate’s Court,

Aloysius and Palisena were arrested by Criminal Investigations Department in February, in connection with the Central Bank treasury bond scam, and have since been in remand custody, with their bail applications repeatedly rejected by the Court. However, when the case was taken up today, they were ordered released on bail under strict conditions, by Colombo Chief Magistrate: Lanka Jayaratne.

The suspects were ordered released on a cash bail of 1 million rupees each, and four surety bails of 20 million rupees each, while they were banned from traveling overseas.

The magistrate also ordered, two of the four co-signers of the bail should be close relatives of the accused.
The co-signers of the bail were instructed to present Grama Sevaka Certificates and copies of their NICs to the Court.

The Chief Magistrate, issuing the order stated, since Arjuna Mahendran who is the chief suspect in the bond scam is still at large, retaining these suspects in remand custody is not justifiable.

The duo were granted bail with regard to the case in which they had provided distorted CDs to the Presidential Commission inquiring into the Bond Scam.

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