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]Given below facts and figures for your information not criticizing or give opinion on the supreme court decision
In 2002 .DIST bought Sri Lanka Insurance corporation to the highest bid.
This move was challenge in supreme court in 2007 and decision was given in 2009
The case was filed by Parliamentarian Vasudeva Nanayakkara (Government).
according to court verdict originally bought amount should have been given to DIST through Treasury bill at the prevailing rates (It was 17% for 5 year TB ).
But treasury delaying the payment more than a year gave cash to DIST (on 31-12-2010)
It is widely remoured that DIST didn't get the full thing which they were supposed to get but part was missing.(may be correct and may not be ).
So far Treasury has not given a decision on earned profit during 2002 to 2009 which DIST is entitled as per court decision.
(Mind DIST only stared investing in heavily in CSE through its LIFE and GENERAL funds and the profits (Rs 15 Bn )recorded in 2010 was mainly invested by DIST )
That is Finish.
Please try to compare same incident with Chinese aeroplane manufacturing company who came for an investment in Galle Face .their monies will be reimbursed with interest.
Compare SUGA (Pellwatte ) with Embilipitiya Paper factory.after 3-5 years time same SUGA will be sold to a foreigner after making losses.
I can discuss a lot but I will keep myself limited , letting you to decide
I took a part of the above article since I was an investor of the above shares like many of us.
THAT IS WHY I BELIEVE INVESTOR SENTIMENT IS GOING DOWN AND THAT WILL AFFECT THE MARKET IN THE LONG RUN.
