FINANCIAL CHRONICLE – The Central Bank of Sri Lanka has initiated an inquiry into the operations of Kasagala Green Plantation (Private) Limited following a claim made by one of its officials regarding the company’s regulation by the bank on a state-run television channel.
In an official statement, the Central Bank announced that it is currently investigating Kasagala Green Plantation (Private) Limited under the Finance Business Act, No. 42 of 2011 (FBA). The investigation aims to determine whether the company has engaged in finance-related activities or accepted public deposits in violation of section 2 of the FBA.
On June 8, Malwattage Ranjith Nandana Pieris, the Director of Kasagala Green Plantation, asserted during the “Pini Viyana” program aired on Independent Television Network (ITN) that the firm operates under the oversight of the Central Bank. He mentioned that the company regularly provides necessary documentation to the Central Bank every six months, and should any concerns arise, the bank would reach out to Kasagala Green Plantation for clarification.
In response, the Central Bank strongly refuted Pieris’s claims, stating, “The CBSL wishes to inform the public that the information presented is factually inaccurate, misleading, and lacks any legal foundation.”
The regulator expressed concern that such statements could potentially mislead the public who watch the program through various media outlets, emphasizing the seriousness of the misinformation. (Colombo/Jun13/2026)
