The Colombo High Court says that the decision whether to proceed with the revision applications filed by Perpetual Treasuries Limited owner Arjuna Aloysius and CEO Kasun Palisena, will be announced on March 09.
The attorneys representing Aloysius and Palisena filed the revision applications seeking bail before the High Court on Monday (26).
The officer-in-charge of the CID’s financial crimes division, the director of the CID and the Attorney General are named as respondents in the petition.
The petitioners point out that their bail application was rejected by the Colombo Fort Magistrate’s Court, under the Public Property Act.
However, they request that the decision of the Magistrate’s Court be revised and bail granted as no crimes have been uncovered under the Public Property Act, in the reports presented by the Criminal Investigations Department (CID).
