Oct 11, Colombo: Sri Lanka's Court of Appeal today rejected the bail applications filed by the former Perpetual Treasuries Limited director Arjun Aloysius and CEO Kasun Palisena, who are in remand custody over the bond scam charges.
When the revision petition filed by Arjun Aloysius and Kasun Palisena with the Court of Appeals seeking bail was considered today, the two-judge bench of Justices Preethi Padman Surasena and Shiran Gunaratne rejected granting bail to the suspects.
Declaring the verdict, Judge Preethi Padman Surasena, the President of the Court of Appeal, said that there were no special points on which the suspects could be granted bail.
Accordingly the bench rejecting bail said that there will be no need to revise the two orders issued by the Colombo Fort Magistrate's Court and the Colombo High Court.
The petitioners in their appeal to the Appellate Court stated that the Colombo Fort Magistrate has refused bail for them stating that the court has no power to grant bail since the suspects have been charged under the Public Property Act.
The petitioners state that however, the CID report submitted to the courts against them has not revealed any offense under the Public Property Act and therefore, the decision taken by the Colombo Fort Magistrate to refuse to grant bail was illegal.
The petitioners state although a revision petition was filed in the Colombo High Court against the lower court ruling the Colombo High Court also rejected the petition without further consideration.
Therefore, the petitioners in the revision application have requested the Court of Appeal to set aside the ruling by the Colombo High Court and Fort Magistrate's Court and grant bail.