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POSTED AT 05:18 PM 01-01-2019

Arjun Aloysius and Kasun Palisena granted bail

Perpetual Treasuries Limited (PTL) owner Arjun Aloysius and Kasun Palisena have been granted bail by the Colombo Chief Magistrate’s Court, after spending nearly a year in remand custody.

Aloysius and Palisena were arrested by Criminal Investigations Department (CID) officers on February 04 in connection with the Central Bank treasury bond scam and have been in remand custody ever since with their bail applications repeatedly rejected by the court.

However, when the case was taken up today they were ordered released on bail under strict conditions by the Chief Magistrate Lanka Jayaratne.

The suspects were ordered released on a cash bail of Rs 1 million each and four surety bails of Rs 2 million each while they were banned from traveling overseas.

The magistrate also ordered that two of the four co-signers of the bail should be close relatives of the accused. The co-signers of the bail were instructed to present Grama Sevaka certificates and copies of their NICs to the court.

The defendants were barred from leaving the country while they were ordered to hand over their passports to the court.

They were also ordered to appear before the Criminal Investigations Department (CID) between 9.00 a.m. and 12 noon on every Sunday.

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