The Former Chairman of the Ceylon Petroleum Corporation (CEYPETCO), Dammika Ranatunga, who was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) earlier today (15) has been granted bail.

The order was issued by Colombo Chief Magistrate Asanga S. Bodaragama after considering submissions made by the officials of the Bribery Commission and the counsels representing lawyers Dammika Ranatunga, Ada Derana reporter said.

Accordingly, the Magistrate ordered Dammika Ranatunga be released on two surety bails of Rs. 1 million each.

He has also been advised to refrain from influencing witnesses.

Meanwhile, the Magistrate barred the suspect from traveling abroad and ruled that, since he holds dual citizenship, his American and Sri Lankan travel documents must be surrendered to court.

Meanwhile, the Bribery Commission informed the Magistrate that it intends to arrest and present former Minister of Petroleum Resources Development Arjuna Ranatunga in court as a suspect in connection with the case.

Former Chairman of the Ceylon Petroleum Corporation (CEYPETCO), Dammika Ranatunga was arrested by CIABOC this morning.

Ranatunga was arrested on charges of causing a loss of nearly Rs. 800 million to the Ceylon Petroleum Corporation by cancelling three long-term tenders that were scheduled for fuel purchases for the years 2017–2018, and instead proceeding with spot tenders at higher prices.