Our attention has been drawn to several newspaper articles and articles on social media that convey false, inaccurate, unjustifiable, and malicious statements that relate to the Nation Lanka Finance PLC and its’ chairman Mr. Victor Ramanan and the Board of Directors.
Some of the articles refer to the two pending cases in the Magistrate’s Court of Negombo and the Magistrate’s Court of Colombo, namely, Magistrate’s Court of Negombo Case No. 560/25 and Magistrate’s Court of Colombo Case No. 53896/1/25.
We vehemently deny such allegations, and this press release is issued to correct the false, inaccurate, unjustifiable, and maliciously published newspaper reports, social media reports, etc.
The first case, namely, Magistrate’s Court of Negombo Case No. 560/25, was instituted on or around 10th January 2025, based on several complaints that had been made to the Miscellaneous Offences Branch of Negombo Police, regarding the acceptance of deposits by the some of the employees attached to the Negombo Brach office of Nation Lanka Finance PLC on behalf of Singhe Capital Investment Limited.
Moreover, in every instance, the funds accepted as deposits had gone to the bank of Singhe Capital Investment Ltd, and no money had been deposited with Nation Lanka Finance PLC. Accordingly, six suspects involved in the said fraudulent mechanism were named as suspects in the MC Negombo case. The facts that emanate from the proceedings of the Negombo Magistrate’s Court affirm the above.
Since, some of employees of the, Nation Lanka Finance PLC has involved in these tractions, Nation Lanka Finance PLC made a complain to the Criminal Investigation Department and the Central Bank of Sri Lanka.
By reason of the aforesaid complaint to the CID, the CID had decided to take over the investigation since several other complaints had been received by the CID pertaining to officials of Singhe Capital Investments Ltd accepting such deposits in different parts of Sri Lanka, adopting the same mechanism, and misusing officers of Nation Lanka Finance PLC.
Subsequently, the Negombo Magistrate’s Court Case No. B 560/25 was transferred to the Colombo Chief Magistrate’s Court under Case No.53896/1/25, following a formal request by the Criminal Investigation Department and the Attorney General’s Department.
The proceedings in the Colombo Magistrate’s Court also confirm the above matters, which came to light in the MC Negombo case. Further, it is relevant to note that eleven suspects were named in the MC Colombo case bearing No. 53896/1/25, including the six suspects named in the Negombo Magistrate’s Court Case No. B560/25.
All in all, the above demonstrates the following in light of the pending Magistrate’s Court proceedings;
a. That the deposits of the depositors had been accepted by officials of the Singhe Capital Investments Ltd, misusing the office premises of the Nation Lanka Finance PLC in Negombo.
b. That the deposits have been received by the officials of Singhe Capital Investments Ltd, and all the promissory notes issued to the depositors had been issued by Singhe Capital Investments Ltd and not by Nation Lanka Finance PLC.
c. The money received by officials of Singhe Capital Investments Ltd had been deposited into the bank accounts of Singhe Capital Investments Ltd, which clearly demonstrates that the above deposits were accepted for and on behalf of Singhe Capital Investments Ltd, and the money derived from the deposits has gone into the accounts of Singhe Capital Investments Ltd.
The purpose of this press release is to indicate to the general public and the depositors of Nation Lanka Finance PLC, the correct factual position relating to the aforesaid two cases,
Accordingly, the contents of the said media article and social media articles are false and inaccurate.
– Board of Directors of Nation Lanka Finance PLC
