The PCoI yesterday wanted to find out information relating to the purchases of the Perpetual Capital Holdings Pvt Ltd or its subsidiaries since February 1, 2015 in order to ascertain how the money circulated in the secondary market transactions had been generated.
SC Justice Prasanna Jayawardena pointing few company names requested the President’s counsel Kalinga Indatissa who appeared on behalf of the Perpetual Capital Holdings to provide the dates and costs relating to the purchases of those companies.
The companies named by the Justice were W.M.Mendis & Co. Ltd, Voice of Asia Network associated with the Siyatha TV network, Integrated Media Networks Pvt Ltd and the Janayugaya newspaper.
The Commission also required the particulars in respect of the Companies controlled and owned by the Free Lanka Group and the Perpetual Capital Holdings.
In determining the ownership of the companies, the commission wanted details of any substantial share holding companies or subsidiaries of the Free Lanka Group and the Perpetual Capital Holdings.
The President’s Counsel also undertook to provide the required details by August 2 through an affidavit. (Shehan Chamika Silva)