CB told to grant relief to Translanka depositors

COLOMBO: Translanka Investments Depositors' Association Chairman M.A. Stanley Perera made an urgent appeal to President Mahinda Rajapaksa that Translanka Investments Ltd. carried out an outstanding deposit of Rs. 80 million taken from 1,500 depositors.

Most of the depositors had invested their life long savings such as ETF money, gratuity, commuted pensions, foreign job earnings, compensations etc. in order to earn higher interest rates offered by Translanka Investments Ltd.

At the moment the said depositors are suffering mentally and physically. Translanka Investments at the Rotunda Gardens, Colombo has been liquidated and is presently defunct.

It had collected a massive sum of money and no money was left to pay for the 1,500 depositors.

The Depositors' Association is grateful to President Mahinda Rajapaksa for urging the Governor of the Central Bank to take action to grant relief to depositors.