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 CapitalInvestment 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. B
560/25.
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
theaforesaid two cases,
Accordingly, the contents of the said media article and social media articles are false
and inaccurate.
Press Release – Board of Directors of Nation Lanka Finance PLC
Image Caption : Victor Ramanan, Chairman- Nation Lanka Finance PLC
