Former STC Chairman granted bail
October 31, 2025 04:33 pm
The Colombo Magistrate’s Court has ordered the release on bail of the former Chairman of the Sri Lanka State Trading (General) Corporation (STC), Hussain Ahamed Bhaila, who was arrested by the Bribery Commission on corruption charges.
Colombo Chief Magistrate Asanga S. Bodaragama issued the order after considering the facts presented by the Bribery Commission officials and the suspect’s legal counsel, said Ada Derana reporter.
He has been arrested over allegations of importing 50 temporary storage units (Cocoon) to the Corporation in 2015 without necessity, and in violation of the prescribed procurement procedures, thereby causing a loss of Rs. 99,679,799.70 to the corporation and an equivalent gain to external parties.
