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Ceylinco boss seeks to quash Monetary Board regulation
Wednesday, 12 December 2007 - 9:34 AM SL Time
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Dr. Lalith Kotelawala and the Seylan Bank have filed a writ application in the Court of Appeal, seeking to quash the `Mandatory Code Corporate for Governance` issued by the Monetary Board of Sri Lanka in respect of the licensing of private banks.
The petition said that the Code Corporate was imposed in October, 2007 and is to be effective from January 2008. The recommendations submitted by the Seylan Bank have not been considered in formulating the final draft of this statute which the Seylan Bank said affects the stability of private commercial banks.
The new regulation is arbitrary and in violation of natural justice and hence should be quashed by the Court, the petition said.
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justman
Joined: Mar 2006
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 12 Dec 2007 10:07:11 GMT Report for Abuse
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| What ever Lalith suggests or acts must be considered good for his company and country.He is a true and honest person. |
Magnum357
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 12 Dec 2007 10:25:13 GMT Report for Abuse
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justman
He is a true and honest person.
Can't the same be said about His Excellency Mahinda Rajapaksa? He is the Minister of Finance and the Monetary Board functions under him and these regulations are with his authority.
Of the two who knows what's best in this instance?
Edited By - Magnum357 - 12 Dec 2007 10:26:48 GMT |
alwaysalion
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 12 Dec 2007 10:49:14 GMT Report for Abuse
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Was not this guy who supported the LTTE somewhere last
year?
Is he having a problems with the TRO funds been frozen?
Edited By - alwaysalion - 12 Dec 2007 14:22:54 GM |
raigamakolla
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 12 Dec 2007 11:31:43 GMT Report for Abuse
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Dr Kotalawala is a national hero and a national asset who has helped the national economy grow in all possible ways. He had given over 10,000 jobs to talented Slankans, some of them were very poor. He is the undisputed corporate leader in Slanka unlike Harry J he had been tarnished by political affliation. DR.LK should be our President some day. He could turn the country around and bring much more prosperity to the nation. He has a vision.
DR LK is a no nonsense man. He is serious and sincere. He does not like to see fellow countrymen suffer and die.
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justman
Joined: Mar 2006
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12 Dec 2007 13:11:48 GMT Report for Abuse
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Alwaysalion
Lalith is a serious business man with one of the biggest companies in the country,employing thousands of people and he is absolutely right,not to get involved in communal politics and it is right for him to trade in rebel areas,just as the gosl have its administration in the vanni areas.His company has to trade with the people in all areas of the island and not to do so is to tell the world that the country is divided.What he and his company is not doing is to enhance the military potential of the rebels.He is a very generous and a honest man,unlike our leaders,who are out there to fill their boots with the country's wealth.He is a wealth creator and all that b***s*** that is said in the past about him is just BS. |
cwanigas
Joined: Dec 2007
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 12 Dec 2007 13:16:29 GMT Report for Abuse
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Who says Lalith is a patriotic Sri Lankan. He is just another businessman who funds both major political parties and henchmen of other powerful men. He has his hidden agenda. If he is clean, will the finger be poited at him for killing of Rev. Gangodawila Soma Thro. He is another one who has accepted the demands of LTTE terrorists. He wants the country to ruin and get his personal agenda upheld. Most people are supporting him for few thousand rupees he donates. It was a joke that he was settling problems on one of the tv channels by donating some money by bringing in his supporters to the studio.
So definitely, Lalith is trying to safeguard his interest by protecting Seylan Bank. |
justman
Joined: Mar 2006
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12 Dec 2007 13:54:45 GMT Report for Abuse
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| There nothing wrong protecting the interests of Seylan bank or any company he runs,as is obliged to protect the intrests of the shareholders of his company.I suppose some like a lawless country where people do what they like?good luck to Lalith and we need more like him in the country. |
alwaysalion
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12 Dec 2007 14:19:26 GMT Report for Abuse
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Justman, everybody talks or knows only the good part of a
person.You may have read or heard the good so let's not
debate about the bad.Get more info on people before saying
that person employed so much or donated so much and so on.
Try to hear the voices of the victims who were forced to
sell lands for his financial gains!He is an insult to Late
Sir John!
Money doesn't make a man, but manners make a man! |
ajaw
Joined: Oct 2006
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12 Dec 2007 15:59:55 GMT Report for Abuse
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Lalith Kotelawala has revived several finance companies that were going through bad times.
And Seylan bank is at least profitable. This is more than could be said of the SME Bank and the Lankaputhra bank that the government created recently.
You need strong banks with accountable shareholders. In some banks there are no visible shareholders, no direction and no one is responsible. This is what will happen if people are allowed to have only small amounts of shares. It becomes a nobody's baby.
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alwaysalion
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12 Dec 2007 17:15:15 GMT Report for Abuse
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Ajaw it sounds like that just because he pulls people out of ruts that he ahs to be recongnized.Then why the heck are
some you not recognizing Velu's efforts although barberic
for a separate state!It may look like two differnt things
but don't you think they are doing it for themselves?
One for money (no matter how he gets it) and the other killing his own people for his dream! |
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