Sri Lanka: EPF Defaulter Lakshaman Bandaranayake to sell LBO for EPF-Bond Deal Maker Perpetual Ranjan Hulugalle

Stock Broker Ranjan Hulugalle to Bailout EPF Defaulter cum Sarvodaya SEEDS Chairman Lakshaman Bandaranayake 'Before Bond Deals' with Arjun Aloysius

Sri Lanka’s foremost leak site Colombo Stock Exchange Leaks – CSE Leaks now have come to reveal another ‘Deal in the Offing’.

Lakshaman Bandaranayake

Accordingly Sri Lanka’s so called ‘Philanthropist’ Sarvodaya Founder Dr. A.T. Ariyaratne owned unregistered Microfinance financial arm Sarvodaya SEEDS’ Chairman turned former Vanguard Founder Lakshaman Bandaranayake who was scouting to sell his Vanguard 4 websites including LBO, LBR, Vimasuma and ColomboSpirit for over Rs.500 million in ‘An Unworthy’ deal thinking LBO is a 'Sri Lankan Social Media Icon' has now come to a negotiation to sign a ‘Deal’ to sell the Vanguard for First Guardian Equities – Director Equities Ranjan Hulugalle who is also a shareholder of the First Guardian Equities. Ranjan Hulugalle had recently joined 'Perpetual Group' of Companies of Sri Lanka's emerging 'Bond King' Arjun Aloysius - the Grand Son of Sri Lanka's Kattar Aloysius - and Arjun Aloysius had committed the largest 'Bond Fraud Deal' with his Father-In-Law Sri Lanka's present Central Bank Governor - Arjuna Mahendran on 27th February 2015 which will come to light soon. 

Prof. Rohan Samarajiva

Dr. Harsha De Silva

According to Employees and Insiders of Vanguard, and Officials of EPF; Lakshaman Bandaranayake the Founder of Vanguard has defaulted over Rs.5 million to Sri Lanka’s Private Sector Worker’s Savings Fund - Employees Provident Fund (EPF) without paying his employees dues for EPF and over Rs.20 million as Employees salaries; in which he fired several employees of Vanguard and let employees leave without paying their salaries from 2010 onwards. These EPF defaults had been committed by Lakshaman Banadaranayake despite Lakshaman Bandaranayake heavily promoting ‘So titled Not So Transparent- EPF Stock Market Deals’ on his Vanguard owned LBO, LBR and Vimasuma where his Chief Editor (who was mainly paid by United States New York Former Mayor Michael Bloomberg owned Bloomberg operations in Sri Lanka) heavily promoted UNP Member of Parliament Dr. Harsha De Silva who was then an Independent Economist at LIRNE Asia. By promoting Dr. Harsha De Silva on LBO,LBR and Vimasuma Lakshaman Bandaranayake the EPF Defaulter brought and articulated Dr. Harsha to become an UNP Politician after his not so Economical career at DFCC Bank and LIRNE Asia and as a gift Lakshaman Bandaranayake  the EPF Defaulter got a Director post at LIRNE Asia from Dr. Harsha De Silva and LIRNE Asia Founder Prof.Rohan Samarajiva fame. Lakshaman Bandaranayake presently is the Chairman of Sarvodaya SEEDS (Sarvodaya Economic Enterprise Development Services (Guarantee) Ltd) that owns Deshodaya Development Finance Company (DDFC) that seeks a listing through its merger and acquisition of George Stuart Finance PLC (which was concluded late last year).

First Guardian Equities (FGE) is one of the premier stockbrokers in Sri Lanka. A licensed trading member of the Colombo Stock Exchange, FGE focuses on a sound synergy between finely honed market research and avant-garde financial consulting in providing customized solutions to address clients imperative financial and investment needs. First Guardian Equities is the only Stock Brokering firm operating on the Colombo Stock Exchange with an International Certification for Systems Standardisation - ISO 9001-2008 from Moody International - UK.

Ranajn Hulugalle

A US-based Sri Lankan lawyer and President of Hulugalle Capital, a Las Vegas based fund management company, Ranjan Hulugalle is a Registered Investment Advisor, advising clients on wealth management, estate planning, and wealth transfer services in the United States. He has a Bachelor of Science degree with a concentration in Biology from Loyola Marymount University, as well as a Juris Doctorate and MBA from Georgetown University. Being a lawyer by profession he is a member of the Washington DC Bar. Hulugalle Capital is housed at 2487, Emerald Avenue Las Vegas, NV 89120, Phone: (702) 987-4607.

Accordingly market analysts stresses this as a more ‘Inside Deal’ that gives Win-Win Situation mostly to Lakshaman Bandaranayake where he will back Arjun Aloysius's 'Bond Frauds' by 'White-Washing' articles written by his LBO.lk editor Chamath Ariyadasa whilst EPF Department Insiders says that Dr. Harsha De Silva has promised to remove Lakshaman Bandaranayake’s name from EPF Black Listed ‘Big Black Book’ that lists EPF Defaulters and remove Lakshaman Bandaranayake’s name from Credit Information Bureau of Sri Lanka (CRIB) where Lakshaman had been listed as bank loan defaulter. These effects will take place before Lakshaman is eyeing to list Deshodaya Finance Company (DDFC) shares under George Stuart Finance PLC name in which case Ranjan Hulugalle has promised Lakshaman Bandaranayake to manipulate the share price of Deshodaya Development Finance Company (DDFC that appears as GSF or George Stuart Finance after listing) via First Guardian Equities and LBO, LBR, Vimasuma articles.

Further analysts note that Ranjan Hulugallle will soon do a deal with Colombo Stock Exchange to change the website via Ranjan Hulugalle's related company EFutures where EFutures will introduce a new Colombo Stock Exchange App soon for share trading to manipulate the market via a 'Mobile App' and 'Trading Algorithms Changing' to help Arjun Aloysius's manipulative trading in which case later Arjun Aloysius will buy the shares of EFutures to manipulate the country's only capital market and mislead the 22 million population of Sri Lanka.

Thilak Karunanaratne

Further, analysts and insiders at First Guardian Equities highlights that Ranjan Hulugalle has been scouting to sell his nearly 30% stake of First Guardian Equities with the new Deal Lakshaman Bandaranayake has agreed to finder a buyer or buy the Ranjan Hulugalle’s stake of First Guardian Equities under Deshodaya Development Finance Company or Sarvodaya SEEDS in which Lakshaman Bandaranayake the EPF Defaulter lead Deshodaya Development Finance will own a Stock Brokering company. 

Daya Muthukumarana 

In another development Sri Lanka's Central Bank and Financial Market Investigators pointed out that Sarvodaya SEEDS and Deshodaya Development Finance former Chairman Dayananda Muthukumarana has submitted a 'Fraud' Audit report in 2011-2012 era to receive the official Non-Banking Finance License for Sarvodaya SEEDS lead Deshodaya Development Finance whilst former Director General at the Stock Market Regulator's house -Securities and Exchange Commission (SEC) Channa De Silva  is the present Deputy Chairman of Deshodaya Development Finance company.

Meanwhile Sri Lanka’s Stock Market Regulator - Securities and Exchange Commission (SEC) insiders say SEC may not carry out an investigation when Ranjan Huugalle and Lakshaman Bandaranayake manipulates shares of Deshodaya Development Finance and George Stuart Finance (DDFC and GSF) since Dr. Harsha De Silva’s Ministry looks after SEC, CSE and EPF and ETF where Dr. Harsha has appointed the ‘Bankrupted’ Touchwood Investments major shareholder Multi Chemi Exports Chairman  Thilak Karunaratne as the SEC Chairman.

Sri Lanka Market Follower Reveals Watch Dog’s ‘Goni Billa’ Price Band Theory?

By CSE Leaks Professor

The so called unexplained ‘Goni Billa’ Formulae or the 10% Price Band Theory implemented by the Buckle Tight Watch Dogs of Sri Lanka’s Capital Market was revealed to CSE Leaks by a leading market follower in the country.

“According to our studies if a company has more than 30% of Public Float, that share will never get caught to ‘Goni Billa’ Price Band” said the well versed market analyst to CSE Leaks.

“That is why REEF.N was never caught with Price Band. I guarantee similarly that if Touchwood (TOUCH) share reach Rs.500 within a day it will never get caught to ‘Goni Billa’ because there is no major shareholder for Touchwood. It is 100% guaranteed Touchwood will not get caught to 10% Price Band” he concluded.

Ceylinco to sell the Model ‘Ceylinco City’ in Colombo

The Finance PLC to sell two iconic properties of the company at R.A. De Mel Mawatha

Sri Lanka’s oldest Golden financial power house, Ceylinco owned The Finance Company (TFC) PLC which had been in the forefront of creating confidence in country’s finance industry continuously for four generations from Great Grand Fathers’ to Grand Sons has recently call for sealed offers to sell two iconic properties which are the benchmarks of the company.

In a recent advertisement in weekend news papers island nation’s oldest finance company The Finance Company (TFC) PLC had invited for offers to outright purchase of two commercial properties, including its head office at No. 55, R.A. De Mel Mawatha, Colombo 04 and No.9A, De Fonseka Place, Colombo 04 amidst a recent secondary offer by the company to raise funds through a public share issue which is offering 40 million ordinary voting shares at Rs.40 per share.

The four storey commercial building property at No.55, R.A. De Mel Mawatha is built on a 72.65 perches land covering 17,800 square feet with ample parking facilities added with access to two road fronts including Gower Street. The other two storey commercial building covering 2500 square feet is built on 13.75 perches land which is just 25 meters from R.A. De Mel Mawatha and 50 meters from Galle Road, in Colombo.

Accordingly any interested party could send their offers titled ‘Offers for the purchase of Commercial Property’ indicating the either property name out of two on the top left corner of the envelope to reach the company’s Assistant General Manager-Administration before the noon of 28 January 2011.

The advertisement further said that prospective buyer should deposit a refundable fee of Rs.250,000 in cash with  TFC, prior to obtaining the title documents of each property while once the buyer is accepted; the buyer should pay 25% of the offer within two working days and the balance with next 14 days whilst the refundable deposit will not be refunded at an instance where buyer delays the full payment of the property.

R.A. De Mel Mawatha which was formerly known as Duplication Road was the central hub Sri Lanka’s former most diversified conglomerate Ceylinco Consolidated, where many head offices of Ceylinco subsidiaries were located including Chairman Lalith Kotelawala’s house and Ceylinco Consolidated head office which was also the consular office of Honorary Consulate for Singapore.

Many Sri Lankans arguably called R.A. De Mel Mawatha as ‘Future Ceylinco City’ as many subsidiaries such as Ceylinco Consolidated, Ceylinco Shriram, Ceylinco CISCO (Now CERTIS Singapore), Ceylinco Fast Cash, Golden Key Credit Card Company, The Finance Co. PLC, Ceylinco Building Society, Lalith Kotelawala’s House at No.28, Elibank Road, American National College (ANC) are all housed in the close proximities of the Road whilst many ‘Big Properties’ at R.A. De Mel Mawatha was once owned by Ceylinco Group.

However, as at today only Punarjeeva Karunanayake advised by Jagath Alwis is been able to carry out Ceylinco’s Multi Million Education business with ANC and Wycherley International School  while securing some of the Premier R.A. De Mel Mawatha properties owned by Ceylinco.

While its main properties are up for sale The Finance Co. PLC had started issuing 10% of the value of its deposits by way of non-voting shares to company’s depositors due to the collapse that resulted after Ceylinco owned Golden Key shutting down its operations without paying back its Rs.26 billion worth depositors.