First Director board for Mihin appointed without approval

The Presidential Commission investigating allegations surrounding SriLankan Airlines, Mihin Lanka and SriLankan Catering, has found that the first board of Directors for Mihin Lanka was appointed without written approval from the Government.

The Presidential Commission appointed to investigate financial irregularities at SriLankan Airlines, SriLankan Catering (Pvt.) Limited and Mihin Lanka, commenced recording evidence last week.

Retired Supreme Court Judge Anil Gunarathna, Court of Appeal Judge Gamini Rohan Amarasekara, Retired High Court Judge Piyasena Ranasinghe, Retired Deputy Auditor General Mallawa Arachchige Don  Anthony Harald, the Director General of the Sri Lanka Accounting and Auditing Standards Monitoring Board Mrs.Wasantha Jayaseeli Kapugama had been appointed as the members of the Commission.

Accordingly, the new Commission will look into the monetary allocations, loans, shares, investments and other finances from the Treasury, Central Bank, People’s Bank, Bank of Ceylon or any other financial institution for the three institutions.

It will also look into the establishment, operation and cessation of Mihin Lanka (Pvt) Ltd, the reasons for the termination of the agreement entered between the SriLankan Airlines and Emirates Airlines, which is the international Airlines Company of the U.A.E. and its complex results, entering, extending and termination of agreements to purchase of aircrafts and other assets, selling, leasing, selling and re- renting, conveyance, exchange, releasing and disposal, purchase, hire, lease, charter, sale, and transfer of aircraft or any assets valued more than Rs 50 million, consigning and appointing of sub agents, brokers and consultants, companies, individuals or entity to supply goods, services or any other function, opening, maintenance and suspension of networks and offices in other countries, the interactions between SriLankan Airlines, SriLankan Catering and Mihin Lanka, Human Resource Management including selection, appointment, remuneration, promotions, transfers, employee restructuring and retirement of the Board of Directors, CEOs, Chairman and other senior management and financial reporting, compliance with relevant accounting and auditing standards, and financial and operational performance and standards. (Colombo Gazette)

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