Perpetual Treasuries Limited director Arjun Aloysius and CEO Kasun Palisena, who are in remand custody in connection with the Central Bank bond scam, have filed a revision petition at the Court of Appeal.
The Officer-In-Charge of the Financial Crimes Investigation Division (FCID), Director of the Criminal Investigation department (CID) and Attorney General have been cited as respondents in the petition.
The petitioners in their appeal to the Appellate Court stated that the Colombo Fort Magistrate has refused bail for them stating that the court has no power to grant bail since the suspects have been charged under the Public Property Act.
The petitioners state that however, the CID report submitted to the courts against them has not revealed any offense under the Public Property Act and therefore, the decision taken by the Colombo Fort Magistrate to refuse to grant bail was illegal.
The petitioners state although a revision petition was filed in the Colombo High Court against the lower court ruling the Colombo High also rejected the petition without further consideration
Therefore, the petitioners in the revision application have requested the Court of Appeal to set aside the ruling by the Colombo High Court and Fort Magistrate’s Court and grant bail.
