Golden Key on progress of repayments to depositors



Golden Key, which is in the process of releasing cheques in the Rs. 3 to 4 million range, have already submitted them to the auditors for clearance, the company’s CEO Dinesh Perera said in a statement last week.


Mailing these cheques will be completed no sooner the green light is received from the auditors, he said.


Under the ongoing second phase, around 95% of the total depositors would receive 41% of their holdings in terms of the repayment plan, the statement noted.


As the high value category has now been reached, the audit processes have been strengthened to ensure zero tolerance in errors, it said.


The reimbursements are being made to depositors by way of ‘Account Payee’ cheques being drawn in their respective names and mailed under registered cover to their addresses, it added.


Payments in the Rs. 2 to 3 million range has already been completed. The number of depositors under this segment was 1,030. However, a few cheques were held back by the auditors due to data mismatches, but will be cleared soon by obtaining the necessary documents from the depositors concerned, the statement said.


More than 2,700 depositors in the Rs. 2 to 10 million range will receive 41% of their holdings under the continuing second stage, for which the Finance Ministry provided Rs. 3.945 billion for reimbursements.


In the final phase, depositors with holdings over and above Rs. 10 million will be repaid under the Supreme Court approved formula within a period of one year.


 


 
 
 
 
 
 
 
 
 
 
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