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Central Bank looks for investor to bail out CIFL
By Quintus Perera
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The Central Bank (CB) has told a group of depositors from the failed Central Investments and Finance Ltd (CIFL) loan that a matching Rs. 1 billion would be given provided an investor is willing to plough in Rs. 1 billion in the company. This assurance was given to Wijaya Gunawardena, President, CIFL Depositors Association by CB Assistant Governor C.J.P. Siriwardena during a recent meeting.
The depositors were told that the CB is trying to find an investor who is prepared to invest in the company and resurrect it and if this is possible, the CB has promised a ‘matching’ loan at a concessionary rate from the Deposit Insurance and liquidity Support Scheme.
According to Mr. Gunawardena, this is a silver lining in the lives of many depositors who have faced shock, despair and inability to meet medical expenses. But, he said the CB wanted an assurance from the depositors that they desist from (if the deal works) any further litigation against the CB.
He said that they are prepared to provide all support to help the CB amicably resolve the financial crisis.
He said that there were also discussions on how to reclaim the money stolen from the company by the former Chairman, CIFL, Deepthi Perera. He said that Mr. Siriwardena has stated that they have already consulted the Attorney General regarding this stolen money and the movable and immoveable property of the CIFL.
By Quintus Perera
View(s):
The Central Bank (CB) has told a group of depositors from the failed Central Investments and Finance Ltd (CIFL) loan that a matching Rs. 1 billion would be given provided an investor is willing to plough in Rs. 1 billion in the company. This assurance was given to Wijaya Gunawardena, President, CIFL Depositors Association by CB Assistant Governor C.J.P. Siriwardena during a recent meeting.
The depositors were told that the CB is trying to find an investor who is prepared to invest in the company and resurrect it and if this is possible, the CB has promised a ‘matching’ loan at a concessionary rate from the Deposit Insurance and liquidity Support Scheme.
According to Mr. Gunawardena, this is a silver lining in the lives of many depositors who have faced shock, despair and inability to meet medical expenses. But, he said the CB wanted an assurance from the depositors that they desist from (if the deal works) any further litigation against the CB.
He said that they are prepared to provide all support to help the CB amicably resolve the financial crisis.
He said that there were also discussions on how to reclaim the money stolen from the company by the former Chairman, CIFL, Deepthi Perera. He said that Mr. Siriwardena has stated that they have already consulted the Attorney General regarding this stolen money and the movable and immoveable property of the CIFL.
