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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Inside Update: Touchwood Liquidator G.K.S. Kumar trying to do underhand and under-table business with Touchwood Local Plantations?

Inside Update: Touchwood Liquidator G.K.S. Kumar trying to do underhand and under-table business with Touchwood Local Plantations?

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StockGuru

StockGuru
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Touchwood investors who have invested in local plantations are said to be not in trouble as they have invested in local plantations that has a value and legal deeds.

However it is only a handful of over 100 investors who have invested in Touchwood Cambodia and Touchwood Thailand Agarwood plantations that are in trouble and who filed for bankruptcy because their files were stolen by Roscoe Maloney and Swarna Maloney when they escaped from Sri Lanka.

As a result now a company that has large local plantation base is banned from trading coz of few investors who got carried away by mistaking Touchwood Investments PLC for Touchwood Investments Ltd abroad that was parallely marketed by Maloney couple to do a fraud.

The new Chairman Lanka Wijendra Kiwlegedara seem to have invested over Rs.100 million in plantations as a investor and continuing with management of the company and legal issues to sort out the matter whilst Insiders from regulator says that Sri Lanka's Stock Market Regulator seem to be helping the company go bankruptcy allowing G.K.S. Kumar - the Liquidator to be credited with few millions under the hand in an under-table deal where G.K.S. Kumar is trying to manage plantations and sell them to various others 'In the Name of Liquidation'.

Now local investors who invested in Touchwood local plantations are fighting back to bring Touchwood shares to trade again asking court to remove liquidator Kumar who is trying to underhand business like Professor.Lakshman R. Watawala the accountant who earned millions by saying he is trying to value fallen Golden Key Assets and Goden Key Credit Company's business.

Chanuque

Chanuque
Manager - Equity Analytics
Manager - Equity Analytics

@StockGuru | This is somewhat the same scenario as GK led Ceylinco Group. Asset valuation is being done for peanut and henchmen are attempting to steal from TWOD PLC to repay a few handful of investors. Another white collar crime is being executed in a broad daylight. RM and SM, the couple who robbed TWOD PLC fled the island with the business deeds of Touchwood Investments Limited in which Sri Lanka has no direct jurisdiction .. The liquidator wants to kill TWOD PLC so the caucus will be divided for peanut money to pay those debts of its limited liability subsidiary ..

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