High Court ruling on bond case revived: Case against Karunanayake to proceed

The Supreme Court today overturned a previous ruling by a three-judge High Court bench which had stated that charges filed under the Public Property Act against former Finance Minister Ravi Karunanayake, former Central Bank Governor Arjuna Mahendran, and Perpetual Treasuries Limited officials Arjun Aloysius and Kasun Palisena over the 2016 Central Bank bond scam could not proceed.

The earlier High Court determination, which had blocked the continuation of cases under the Public Property Act against the accused, has now been set aside by the Supreme Court.

As a result, legal proceedings against the accused under those charges will now be allowed to continue.