The Supreme Court while, approving the list of seven prospective directors for the Sri Lanka Insurance Corporation, which was re-vested in the State consequent to the Supreme Court Judgement of June 4, 2009, yesterday said that the Bribery and Corruption Commission has statutory powers to investigate any malpractices pointed out by Nihal Sri Amerasekera, in his recent motion.

The Deputy Solicitor General, Sanjay Rajaratnam, on behalf of the Treasury Secretary, submitted the seven names to Court. They were: Pradeep Kariyawasam, Anura Muddegoda, R. A. Jayatissa Chithral Amaratunga, Nalaka Godahewa, Ravi Abeysuriya, and A. S. Lekamge, who were professionally and academically qualified persons with experience.

The profits and losses of the SLIC will be audited by the Auditor General, from the date of privatisation on April 11, 2003, upto the delivery of the Supreme Court Judgement on June 4, 2009. This time period was directed by the Court.

The Court said that the operation of the Data base of the SLIC, by a private company, is an issue to be investigated by the new Directors.

Justice N. G. Amaratunge: It is a robbery of public funds for the SLIC to pay a private company to obtain the data of the SLIC.

Meanwhile, the Deputy Solicitor General told the Court that the officers of the Slave Island police station had informed him that the files recently removed from the SLIC, in a lorry, belonged to a private company called ‘formula world’, and that they may be released on a Magisterial order.

Viran Corea appeared for Nihal Sri Amerasekera, who had filed a motion stating that new directors should be appointed to the SLIC, as scheduled in the SLIC.

The Bench comprised, Justice N. G. Amaratunga, Justice N. G. Amaratunga, Justice K. Sripavan and Justice P. A. Ratnayake.