Arjuna Ranatunga and Brother Indicted For Causing Rs. 800 Mn Loss To CPC

COLOMBO (News 1st) : Former Minister Arjuna Ranatunga and his brother Dhammika Ranatunga was indicted at the Colombo High Court for allegedly causing nearly Rs 800 million in losses to the Ceylon Petroleum Corporation.

The case was heard before High Court Judge Rashantha Godawela.

According to the charges, during the period between 2017 and 2018, the Ceylon Petroleum Corporation (CPC) cancelled three long-term six-month tenders that were meant for fuel procurement. 

Instead, 27 spot tenders were awarded at higher prices, resulting in an estimated loss of 800 Million Rupees to CPC.

The charges which was filed under the Bribery Act also included abetting this loss. 

Both accused were released on two separate cash bail bonds of 5 Mn Rupees each.

The pre-trial conference is scheduled for May 15.