The SEC in the early parts of this month issued a “Notice of Action” against ERI indicating that it will take legal action against the firm for not adhering to certain disclosure rules set by the regulator.
A source familiar with the issue said regulators will sit to discuss the “ERI appeal” in due course.
Meanwhile Harshanee Deshapriya, the Manager Legal and Corporate Affairs of ERI speaking to us about the “Notice of Action” said, the company has taken necessary steps to deal with it.
She added, “We have sent all the required documents and information to the SEC to make a decision”.
Deshapriya says, this issue has to be settled down soon for the best interest of the company and the well being of the shareholders.
Environmental Resources Investment PLC formerly known as Walker & Greig Limited was incorporated in Sri Lanka almost a century ago in the year 1910 and became a listed firm in the 1970’
Ceylon Leather products, Dankotuwa Porcelain, The Colombo Pharmacy, and South Asia Textiles Industries Lanka are some of the firms coming under the group.