Perpetual Treasuries’ fundamental rights petition rejected by Supreme Court

The Supreme Court has rejected the ‘fundamental rights’ petition filed by Perpetual Treasuries Limited.

What was the petition for?

PTL’s  commercial licence to operate as a Primary Dealer of Central Bank was suspended for 6 months.

Arjun Aloysius filed in the petition, requesting that this decision taken by the Central Bank Monetary Board on July 6 be nullified.

The Attorney General’s objections were considered by the the Supreme Court bench, who then rejected the petition.

The bench consisted of:

  • Chief Justice Priyasath Dep
  • Chief Justice Buwaneka Aluwihare
  • Chief Justice Nalin perera

“There is no legal right for perpetual treasuries limited to file such a fundamental rights petition”, said the Attorney General’s Department.