The Supreme Court yesterday directed the State and the Central bank to appoint Laxman R. Watawala, Nelson Nagasinghe and Mahinda Panditha (Chartered Accountants), as members of the committee to value the assets, so far known, affiliated to the Golden Key Credit Card Company Limited.

These known assets were estimated as Rs. 6 billion in an interim report submitted to the Court by the Attorney General Mohan Peiris PC. The Committee of Chartered Accountants is to function in consultation with the Director Bank Supervision of the Monetary Board, who will supply the necessary facilities. An interim report is to be submitted to the Court in two weeks.

Counsel for the petitioner depositors M. A. Bastianz told the Court that Ceylinco Limited held 839,000 shares of the GK Credit Card Company and the G. K. Holding Limited held 757,000 shares of the GK Credit Card Co. Limited.

Court directed that, the profile of these two companies should be investigated by the Director Supervision of then Non-Banking Financial Institute of the Central Bank. This may reveal, the disbursement of the assets of the G.K. Credit Card Co. and Limited Lalith Kotalawala could be questioned on this issue.

The matter is to be mentioned on June 1, 2009.

M. A. Bastianz, appeared with Sudath Jayasundera for the petitioners who had complained of a denial of their deposits amounting upto Rs. 26 billion deposited with G. K. Credit Card Co. Limited.

The Bench comprised the Chief Justice Sarath N. Silva, Justice Shirani Tilakawardene and Justice K. Sripavan. The Attorney General Mohan Peiris, PC appeared for the Central Bank.

The persons for the committee were chosen from among, names suggested by the Attorney General, and the counsel for the petitioner