The top 10 institutions that have defaulted on massive loans they have taken from the People’s Bank have been revealed. Among them are four political racketeers directly linked to the current government and the previous government.
This information was revealed in a document submitted by the People’s Bank to the COPE Committee. Among the racketeering companies directly linked to politics are Mihin Lanka, which was started by Arjun Aloysius, Daya Gamage and Mahinda Rajapaksa and went bankrupt.
Meanwhile, Mendis & Company owned by Arjuna Aloysius owes Rs. 3240 million, Daya Apparel Group owned by Daya Gamage Rs. 2650 million and Mihin Lanka Rs. 2560 million. The Yashoda Group has the highest amount of debts at Rs. 24770 million.
The total amount of non-performing loans taken from the People’s Bank is Rs. 54.52 million. Among the companies involved in the racket was Arjun Aloysius’ Mendis Company, owned by Arjun Aloysius, which had secured a loan of nearly Rs.7000 million from state banks People’s Bank and Bank of Ceylon keeping the same property as security. Ranil Wickremesinghe, who was instrumental in making a huge profit for Arjun Aloysius through the bond robbery, has now become the Minister of Finance.
