How Did Rajendra Theagarajah got the CEO seat at NDB

rainmaker wrote:
Personally I find this info a bit hard to believe as NDBs top shareholder is the govt and not Pathirage. This particular person along with Rienzie are not in favour.

Barren Wuffete wrote:

Redbulls wrote:We don't need these type of gossip in the talk section.
Should be in the prison.

This is not gossip..These are true facts so far what ever I have posted.It seems this forum is not the forum that used it to be anymore.

Gossip is what people talk without facts.Go find out talk to top CEOs,Chairman in the country and businessmen in the country.You will know what it is.

Dear Redbulls I do not know who you are but if you actually know who I am you will end up in a surprise!

But I am only another member for this forum.

I used to be a only a viewer in this forum since a long time ago.That is why only 10 posts so far.This forum revealed most of the best stories in the stock market long time ago when started.Such as Galadari Debt conversion,Janashakthi brothers buying Orient finance,CDIC selling Aviva,Asia Capital selling Asian Alliance even before news broke it.They were only facts that time nobody talked about those as gossip.

Even you were not there in this forum.Not even admins of this forum who come and post regularly.

I was there..only as a viewer! And I made lots of profit from this forum thanks to the topics that had exclusive content...unlike now.

Even you were not there in this forum.Not even admins of this forum who come and post regularly.

Barren Wuffete wrote:Do you wish to become a Banking Dealmaker in Sri Lanka by arranging Leverage Buyout Deals that earns you a CEO post when you loose a Job!

The Story. Read Below!

HNB is a leading Licensed Commercial Bank of Sri Lanka
Somewhere before 2008 as far back in 2007 their MD/CEO Rajendra Theagarajah led management offered a bigger loan as big as Rs.1.4 billion to an entrepreneur from Galle -Ashok Pathirage - to buy Asiri Hospital Holdings...

(HNB hadn't offered such big loans to anybody in history as per bankers...except for government of Sri Lanka. Also wheny you go to HNB it is very difficult to get a loan for people.Don't know how Pathirage's software company that time went for such a big loan.)

After that he started building a Platinum conglomerate with many hospitals,insurance company and a finance company,stock brokering company and a stake in a top Investment and a development bank - NDB - in the country while also helping a Malaysian Pastor -Vijay - the founder of Gold Quest to pull out Sri Lankan investments little by little.

Today when Theagarajah loose his job when he asked for 5 year extension from Ranee Jayamaha and when she refuses giving only 2 years extension Theagarajah quickly gives his resignation from HNB and Theagarajah gets a quick job at NDB Bank as its CEO.Thanks to Ashok Pathirage from Galle who owns a majority of NDB!

Is this our banking industry. Once Raj Rajaratnam told if he was in Sri Lanka he can easily invite the Judge for Dinner and give a Rs.50,000 cheque and withdraw the case by getting away away from Insider Trading.

Some say similarly in some banks in Sri Lanka if you offer a Bird to the CEO,or Chairman or offered some great gifts and couple of lunches,dinner at exclusive places you can easily get a loan without going for a background check on credit risk and exposure.

References Link for Softlogic IPO Prospectus -Page 6 -

http://www.softlogic.lk/ipo/ipo-docs/Softlogic%20Prospectus%20Final%20File.pdf

Content - Hatton National Bank PLC Rs.1,400 million (Rs.1.4 billion) Loan with AWPLR+1.5% to Softlogic
Holdings Ltd for the Acquisition of 153,362,050 Asiri Hospitals Holdings PLC Shares (Mandatory offer)