Actions will be taken against them under the Central Bank guidelines on good governance and Fit and Proper.
It has been reported that the Central Bank is considering the possibility of taking legal actions against the firms of chartered accountants and the chartered accountants attached to the company.
The Central Bank is also to implement new regulations against the heads that paves way to the collapse of financial companies.
The regulations in relations to it will be spelled out in Central Bank Road Map for year 2014, which is to be announced on January 2.
It is to include the regulations on reducing the number of financial and leasing companies in the island to 25, which are currently 58.
https://www.srilankamirror.com/news/12484-legal-action-against-cifl-authorities