The Hon. Bimal Rathnayake

Jathika Jana balawegaya· National List· 18 December 2024 ·Oral question: Oral Questions (Questions 1–10)

Public Finance

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Hon. Bimal Rathnayake answered a question regarding Maga Neguma, confirming that the company owns vehicles and current assets, and tabling annexures with details. He stated that the Cabinet decided on 20 March 2023 to wind up Maga Neguma and its three subsidiaries, and that legal proceedings, including Case No. HC (Civil) 32/2023/CO, are ongoing. He reported litigation expenses of Rs. 13,964,027.30 up to 22 July 2024 and arbitration payments of Rs. 3,015,000 as of 13 September 2024, with supporting annexures tabled.

Verbatim record (translated)

Machine-translated from Sinhala / Tamil / English

¶ 01 Mr. Speaker, the answer to that question is as follows.

¶ 02 (a) (i) Yes.

¶ 03 (ii) Yes. A list of vehicles owned by Maga Neguma is presented as Annex 02 and the accounts statement containing current assets as Annex 03. I also wish to present the relevant Cabinet Paper connected to this question. On 20.03.2023, the Cabinet decided to wind up Maga Neguma and its three subsidiaries: Maga Neguma Road Construction Equipment Company (Pvt) Ltd., Maga Neguma Consultancy and Project Management Services (Pvt) Ltd., and Maga Neguma Emulsion Production Company (Pvt) Ltd., and to take necessary steps accordingly. This is shown in Annex 01.

¶ 04 (iii) Yes. Details of legal proceedings are presented as Annex 04. These are lengthy, and can be provided to you and the House if required.

¶ 05 (iv) Yes. Case No. HC (CIVIL) 32/2023/CO is being maintained.

¶ 06 (v) Mr. Speaker, expenses incurred for that case so far are in two parts. For litigation from September 2023 to 22.07.2024, Rs. 13,964,027.30 has been spent. In addition, an arbitration has commenced on 09.08.2024. As of 13.09.2024, Rs. 3,015,000 has been paid for arbitration. These are presented as Annexes 05, 06 and 07. I table Annexes 01 to 07.

¶ 07 (b) Not applicable.

Provenance

Source: Hansard, Wednesday, 18 December 2024 ·No. 1735286612086554 ·English daily/uncorrected Hansard
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Cite as: The Hon. Bimal Rathnayake. 10th Parliament, Parliament of Sri Lanka. Hansard, 18 December 2024. No. 1735286612086554. Politick, https://staging.politick.io/lk/speeches/12115