The Attorney General, Mohan Peiris PC, yesterday, told the Supreme Court that the Chairman and the Directors of Golden Key Credit Card Company Pvt. Ltd, should within two weeks make a threshold payment of Rs. one Billion to the credit of the depositors. The GK Chairman and Directors had not credited any money in favour of the aggrieved depositors who had complained to the Supreme Court. After making the threshold payment the Chairman and Directors should make further payments to the Central Bank in favour of the depositors, he said.

If the State is convinced that the Chairman and Directors have performed satisfactorily at that point the State may consider the issues pertaining to granting them bail.

The Attorney General also said that the Chairman and Directors may be represented at the committee meetings of the Central Bank, which will value their known assets.

The CB Committee comprises Chartered Accountants, whose nomination had been approved by the Supreme Court.

The counsel for the Chairman and Directors at the outset told the Court that the issue of recovering the 26 billion rupees due to the depositors is difficult to be settled while the Chairman and the Directors are in custody.

The Attorney General appeared with the Deputy Solicitor General Sarath Jayamanne and Senior State Counsel, Janak de Silva for the respondent Central Bank.

The Bench comprised, Justice Shirani Tilakawardene, Justice K. Sripavan and Justice Chandra Ekanayake.