Stay order issued on warrant to arrest Ravi

The Court of Appeal today issued an interim order suspending the enforcement of warrants issued on former Minister of Finance Ravi Karunanayake and six others over the Central Bank bond scam in 2016.

The Fort Magistrate’s Court had in March issued an arrest warrant on 10 suspects, including Karunanayake, on the Central Bank treasury bond scam.

The Court issued the arrest warrants after taking into consideration the representations made by the Attorney General.

The Attorney General (AG) had directed the Inspector General of Police to obtain arrest warrants for Karunanayake, former Central Bank Governor Arjuna Mahendran, Director of Perpetual Treasuries Limited (PTL) Arjun Aloysius, CEO of PTL Kasun Palisena, former Director of the Public Debt Department of CBSL Sarathchandra and several others.

The warrant has been sought on charges of conspiracy, criminal misappropriation, cheating and market manipulation in respect of bond auctions of March 2016.

The Fort Magistrate’s Court had further imposed a travel ban on the suspects, including former Minister Karunanayake and Mahendren. (Colombo Gazette)


  1. What a Drama ! Warrants issued, Then withdrawn, I bet nothing will happen to these culprits. Ideal TV drama for the public.

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