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Order regarding liquidation fixed for October 6

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The order regarding the liquidation of ETI Finance was yesterday fixed for October 6 by the Colombo Commercial High Court. When the case was yesterday taken up before the Colombo Commercial High Court, a group of depositors and the Board of Directors objected to the Central Bank’s request to issue an order to wind up ETI Finance, while another group of depositors sought from the Colombo High Court to wind it up and hand over their deposited money.

The petition was filed by the Director of the Non-Banking Financial Institutions Supervision Department of the Central Bank.

Additional Solicitor General Viraj Dayaratne appearing for the prosecution informed the Court that the liquidation newspaper notices on ETI Finance were published on July 27 and nearly Rs. 6 billion has been repaid to the depositors and another Rs.8 billion has to be paid to the depositors.

However the counsels who appeared for the depositors and the directors and other parties raised objections to that.

After considering the submissions made by both parties, the Colombo Commercial High Court judge ordered that the relevant objections be filed before September 25.

The High Court Judge also fixed the order regarding liquidation of the ETI Finance for October 6.

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