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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » HNB Grand Tax Evasion......

HNB Grand Tax Evasion......

+4
girihell
K.Haputantri
worthiness
traderathome
8 posters

Go down  Message [Page 1 of 1]

1HNB Grand Tax Evasion...... Empty HNB Grand Tax Evasion...... Thu Oct 24, 2013 9:06 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hatton National Bank has been involved in a large scale tax evasion where it has not paid mandatory company taxation to the government, reports say.

The tax advisor to the bank Charted Accountant R .Gajendran’s GAJMA & CO is said to be a main partner in this fraud.

Meanwhile, reports say that in order to thoroughly investigate the complaints received against the particular company the Central Bank has taken steps to direct the investigations to the Finance Ministry.

HNB has been engaged in the tax evasion process for the past 5 to 6 years with the assistance of the officers attached to Inland Revenue Department, reports say.

The bank has allegedly evaded around Rs 600 million of company tax, reports add.

In its preliminary investigations, the Central Bank has revealed that half of the evaded tax has been divided between the tax advising company and the officers at the Revenue Department involved.

The current chairman of the bank Rani Jayamaha has also been able to identify the wrongdoing through an internal probe, reports further say.

According to field sources, GAJMA & CO has been previously alleged of tax irregularities, which occurred in connection with National Lottery Board.

More information on this fraud will be revealed soon.
http://www.srilankamirror.lk/news/11319-hnb-s-grand-tax-evasion


If this is true there will be more selling from today......

2HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Thu Oct 24, 2013 12:17 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If Yes..selling pressure would be effective from tomorrow onward once the news are delivered throughout.

3HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Thu Oct 24, 2013 12:25 pm

K.Haputantri

K.Haputantri
Co-Admin
I think former CEO was not granted extensions of service due to such issues when Rani assumed as chairman.

4HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Fri Oct 25, 2013 11:02 am

girihell


Senior Equity Analytic
Senior Equity Analytic
original link (http://www.srilankamirror.lk/news/11319-hnb-s-grand-tax-evasion) doesn't have the article now
they have removed it ...Suspect  but why?Question 

5HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Fri Oct 25, 2013 11:06 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@girihell wrote:original link (http://www.srilankamirror.lk/news/11319-hnb-s-grand-tax-evasion) doesn't have the article now
they have removed it ...Suspect  but why?Question 
True ....mata nang pissu wage Razz 

6HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Fri Oct 25, 2013 11:51 am

suddera

suddera
Manager - Equity Analytics
Manager - Equity Analytics
@girihell wrote:original link (http://www.srilankamirror.lk/news/11319-hnb-s-grand-tax-evasion) doesn't have the article now
they have removed it ...Suspect  but why?Question 
Here is the Sinhala version



Last edited by smallville on Fri Oct 25, 2013 4:29 pm; edited 3 times in total (Reason for editing : inappropriate site)

7HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Fri Oct 25, 2013 4:31 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
sudera, we dont tolerate free advertising to competitor sites.. pls refrain from publishin news from competitor site..

8HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Fri Oct 25, 2013 4:33 pm

Zaiban


Senior Equity Analytic
Senior Equity Analytic
@smallville wrote:sudera, we dont tolerate free advertising to competitor sites..   pls refrain from publishin news from competitor site..  
what are the competitor sites??

9HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Sat Oct 26, 2013 8:17 am

Leon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@traderathome wrote:Hatton National Bank has been involved in a large scale tax evasion where it has not paid mandatory company taxation to the government, reports say.

The tax advisor to the bank Charted Accountant R .Gajendran’s GAJMA & CO is said to be a main partner in this fraud.

Meanwhile, reports say that in order to thoroughly investigate the complaints received against the particular company the Central Bank has taken steps to direct the investigations to the Finance Ministry.

HNB has been engaged in the tax evasion process for the past 5 to 6 years with the assistance of the officers attached to Inland Revenue Department, reports say.

The bank has allegedly evaded around Rs 600 million of company tax, reports add.

In its preliminary investigations, the Central Bank has revealed that half of the evaded tax has been divided between the tax advising company and the officers at the Revenue Department involved.

The current chairman of the bank Rani Jayamaha has also been able to identify the wrongdoing through an internal probe, reports further say.

According to field sources, GAJMA & CO has been previously alleged of tax irregularities, which occurred in connection with National Lottery Board.

More information on this fraud will be revealed soon.
http://www.srilankamirror.lk/news/11319-hnb-s-grand-tax-evasion


If this is true there will be more selling from today......
No high selling pressure witnessed. And also we can't expect a clarification from HNB also when we asses the quality of the news site...

10HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Sat Oct 26, 2013 10:33 am

Zaiban


Senior Equity Analytic
Senior Equity Analytic
errrrrrrm smallwille u have eidted my post.... and not ur own post.... thts a bit unethical.... because i didnt say any of those stuff.... and u shudnt be abusing ur power as an admin/ moderator ..

11HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Sat Oct 26, 2013 3:17 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Zaiban wrote:
@smallville wrote:sudera, we dont tolerate free advertising to competitor sites..   pls refrain from publishin news from competitor site..  
what are the competitor sites??

The sites that do the things we do.. Analysis, opinions....

Plus I must add sites that publish controversial news on markets, businesses, unproved opinions.

Basically there are few sites with gossip and controversial news which we dont approve to be published here.. Time to time we've advised our members to refrain from advertising goldengate and other gossip sites here, still continuing..

12HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Sat Oct 26, 2013 3:18 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Zaiban wrote:errrrrrrm smallwille u have eidted my post.... and not ur own post.... thts a bit unethical.... because i didnt say any of those stuff.... and u shudnt be abusing ur power as an admin/ moderator ..
Apologies.. I've made a small mistake back there.. Instead of using 'quote' I've used 'edit' function..

13HNB Grand Tax Evasion...... Empty Re: HNB Grand Tax Evasion...... Sat Oct 26, 2013 4:52 pm

Zaiban


Senior Equity Analytic
Senior Equity Analytic
@smallville wrote:
@Zaiban wrote:errrrrrrm smallwille u have eidted my post.... and not ur own post.... thts a bit unethical.... because i didnt say any of those stuff.... and u shudnt be abusing ur power as an admin/ moderator ..
Apologies.. I've made a small mistake back there.. Instead of using 'quote' I've used 'edit' function..
apology accepted.. no probs... i was a bit confused as to why what I had said had changed

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