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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lanka: Did Central Bank request Banks & Financial Institutions to control their Directors Behaviour at Board Meetings after Harry J's Daughter scold HNB CEO Jonathan Alles for rejecting Dinesh Weerakkody to Board? - Sources

Sri Lanka: Did Central Bank request Banks & Financial Institutions to control their Directors Behaviour at Board Meetings after Harry J's Daughter scold HNB CEO Jonathan Alles for rejecting Dinesh Weerakkody to Board? - Sources

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Mark Levin


Stock Analytic
Stock Analytic
Sources close to Sri Lanka's Financial Circles and Bankers note that a recent move by Harry Jayawardena to appoint Sri Lanka's Tourism Minister John Amaratunga's eldest Son-In-Law Dinesh Weerakkody had been a failure in March 2017 and as a result Harry J's Eldest Daughter Ms. Sanjivani Jayawardena had ended up openly shouting using 'Filth' to reputed banker Jonathan Alles at a Board meeting for not allowing Dinesh Stephen Weerakkody to become a Director of HNB, a bank that is largely controlled by and (over 17% ownership) via Sanjivani Jayawardena's father Harry Jayawardena's businesses including Milford Exports (Ceylon) Limited, Stassen Exports Limited and Distilleries Company of Sri Lanka. 

Upon hearing this Non-Corporate Ja-Ela Thug 'John Bass' culture behaviour of Harry J's eldest daughter at country's second largest private bank - HNB and its CEO Jonathan Alles, Sri Lanka's Banking Regulator that has over 65 years old Central Banker - World's Oldest Central Banker (World's Largest Stock Market Manipulator, US Jailed Raj Rajaratnam's former Galleon Research Head) -Indrajit Coomaraswamy managed Central bank of Sri Lanka had warned all Bankers in the country and the entire banking Sector Director boards to control the behaviour of Directors of all banks and finacial institutions.

Sources close to Harry J also notes that switching of Finance Minister Ravi Karunanayake has shattered the Dream of Harry Jayawardena's motive of reversing Sri Lanka's Banking Act to take the control of key Sri Lankan Commercial Banks such as DFCC and Commercial Bank of Ceylon under his family control and ownership since Ravi's suggestion to reverse the private ownership of Licensed Commercial Banks to over 20%; is now seems not a plan under this government. 

One time during 1994-2005 Chandrika Bandaranaike Regime of Sri Lanka Harry Jayawardena started controlling country's entire private sector commercial banks and Sri Lanka's largest insurance company - SLIC - since he was favoured by then Lady President Chandrika as Harry J largely financed her Presidential Political Campaign with over Rs. 50 million in 1994 Presidential Elections.

Sources also note that Harry J has political stooges appointed to his companies especially from Sri Lanka's Tourism Minister's family including another Son-In-Law of 'Ja-Ela Thug John Bass' to Harry J's Heritance Hotel group where the other Son-In-Law holds key managerial position. 

In Mid March 2017, Hatton National Bank said that a scheduled Extra-Ordinary General Meeting (EGM) for March 27, will not be held.

The EGM was called in order to adopt a resolution to appoint Dinesh Stephen Weerakkody (Eldest Son-In-Law of Tourism Minister John Amaratunga) as a director of the bank.

“Hatton National Bank PLC (the “Bank”) on March 7, 2017, called for an Extra-Ordinary General Meeting (EGM) on 27th March 2017, pursuant to a requisition made under section 134 of the Companies Act No 7 of 2007, by the Distilleries Company of Sri Lanka PLC, Stassen Export Limited and Milford Export (Private) Limited (“the Requisitioning Shareholders”),” the bank said in a stock exchange filling.

“Subsequently, the bank has received a letter dated March 15, 2017 from the requisitioning shareholders, withdrawing the above-mentioned resolution.”

*Pursuant to the provisions of the Banking Act Directions No. 1 of 2007, the total collective voting rights in the HNB Bank, of Milford Exports (Ceylon) Limited, Stassen Exports Limited and Distilleries Company of Sri Lanka (who collectively hold 17.90% of the voting shares of the Bank) are limited to 10% of the total voting rights of the Bank with effect from 15th March 2012 as the voting rights in excess of such percentage is deemed invalid from that date.

reyaz

reyaz
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Adding to this, since I also am an insider I can tell you how dirty and cunning Cabraal is. One wedding I was also in vited to, Cabraal and Mr. Lalith Kotalawala was also invited. It was in 2007 Somewhere around August, Kotalawala was talking to Cabraal and all of a sudden the face of Cabraal changed. Kotalawala was getting intimidated by the look of his face. It was a sillent war if you will, but it was just after that seylan bank got into liquidity crisis

reyaz

reyaz
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Seylan went down after golden key credit card company.

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