The Court of Appeal today informed that the decision on whether or not the petition filed calling for the appointment of Ajith Nivard Cabraal as the Governor of the Central Bank to be made invalid will be taken up for consideration, will be announced on the 3rd of November.
The petition was called before an Appeals Court bench comprising Justices Sobhitha Rajakaruna and Dhammika Ganepola.
Attorneys representing both parties informed that written statements for the case have been submitted to Court.
The Appeals Court bench said accordingly the decision on whether or not to issue notices to respondents, in order to hear the case further will be announced on the 3rd.
The petition was filed by former Governor of the Southern Province Rajith Keerthi Tennakoon.
The Attorney General, the Inspector General of Police, former State Minister Ajith Nivard Cabraal, the Secretary to the President PB Jayasundara, Minister of Finance Basil Rajapaksa and several others have been cited as respondents.
The petitioners state it was confirmed that the government incurred a loss of between Rs.10.4-10.6 billion during Ajith Nivard Cabraal’s term as the Governor of the Central Bank, between 2005 and 2015.
Additionally the petitioners state the government incurred a loss of USD 200 million through the Hedging agreement which was led by Ajith Nivard Cabraal.