The Hon. Rauff Hakeem, Attorney-at-Law

¶ 01 Hon. Presiding Member, as we take up for debate this very voluminous Bill of over 550 pages, I wish initially to make a brief comment outside it.

¶ 02 When our Hon. Deputy Minister, Sunil Wattagala, spoke, he tried to justify the Government side’s freedom to speak against the Opposition’s criticism of a recent speech by the President which allegedly contributed to recent agitation, particularly concerning attempts to influence the judiciary. As lawyers in this House, we all know the Bar Association of Sri Lanka, an independent professional body, has already expressed its opposition. The issue was not merely saying a court date existed against a particular politician; rather, in the President’s speech, the exhortation to “get ready to clap in handcuffs” to excite the gallery was the problem, implying a signal. That is why even the Bar Association objected. I ought to have highlighted that. On that note, I will briefly make a few remarks in Tamil.

¶ 03 Today, as we debate an important Bill, several spoke here about the elections just concluded in Tamil Nadu. The celebrated film star, known to all of us, who is to take oath as Chief Minister, Joseph Vijay, identified himself unhesitatingly as a Christian, preferring to call himself “Joseph Vijay” rather than the fan-bestowed “Thalapathy Vijay.” He boldly asserted his religious identity and now leads the party that has won the most seats across Tamil Nadu within just two and a half years. On behalf of my party, I extend our congratulations to Thalapathy Vijay for this Himalayan achievement.

¶ 04 Among Tamil-speaking people, the idea that sectarian religious identity should not overshadow a shared linguistic identity has been strengthened by the growth of the Dravidian movement. I must point out that well before others, in Sri Lanka we did not sideline a towering personality—“Selva,” the “Son of the Soil”—for being a Christian, but embraced him as our leader. By asserting language identity over religion, Eelam Tamils pointed the way to a broader national identity, and we proudly record that here.

¶ 05 Members of some of our friendly parties have also won seats in the Tamil Nadu Legislative Assembly, and I extend my greetings to them as well. In particular, the Indian Union Muslim League has had an impressive victory, winning 22 seats in Kerala. Recently, its leader Prof. Kader Mohideen received the “Distinguished Tamil” award from former Chief Minister Stalin; we too hosted a reception for him here. We also extend congratulations to Sadiq Ali Thangal, Chairman of that party’s National Advisory Council, and to former State MLA and National Treasurer Kunjalikkutty, who is poised to assume one of five imminent cabinet positions.

¶ 06 In Tamil Nadu, both IUML candidates who contested won their seats. I especially congratulate my friend and frequent travel companion to Tamil Nadu, the newly elected MLA for Papanasam, Aathur A.M. Sajahan; the MLA for Vaniyambadi, S.S.P. Syed Farooq; the leader of the Manithaneya Makkal Katchi and winner in Nagapattinam, Prof. Jawahirullah; the winner in Chidambaram, Thamimun Ansari; and, from the DMK in Palayamkottai, Abdul Wahab. I also extend my greetings again to the new Chief Minister, Vijay, whose party achieved an overwhelming victory despite many pundits deriding these “whistling chicks” and predicting nothing special.

¶ 07 Joseph Vijay also spoke about Kachchativu, boasting that they would reverse a decision made between two sovereign nations. Instead of making such emotional and unrealistic claims, I urge him to work to build bridges between India and Sri Lanka—especially between Tamil Nadu and the Tamil-speaking people here—and to press the Central Government to make that happen. As the revolutionary poet Bharathi sang—“We must build a bridge to Ceylon… strengthen the Sethu and lay the road…”—let this be our guiding inspiration.

¶ 08 I must also speak of former Chief Minister Stalin. He honoured Tamil Nadu as the motherland of all Tamil-speaking people worldwide by declaring and celebrating an “International Day of Tamils Abroad” to honour us. He implemented a “Dravidian Model Governance,” transforming Tamil Nadu into a stronghold for secular and religiously tolerant forces. He also made Tamil Nadu a leading state in attracting foreign investment and promoting economic growth; for that we must congratulate him.

¶ 09 The new Chief Minister should seek the counsel of experienced leaders like Stalin. Whatever criticisms may exist, he should carry forward their achievements and work hard to do so. Furthermore, he should prevent the entry of sectarian forces into Tamil Nadu.

¶ 10 Among Stalin’s achievements was expanding opportunities for those from the most disadvantaged castes and helping them succeed, continuing the struggle of the Dravidian movement against caste oppression. We pray that these efforts continue successfully.

¶ 11 I also extend my greetings to former Chief Minister Stalin, who has magnanimously accepted his electoral setback and chosen to treat each step as a foundation for future victory.

¶ 12 Hon. Presiding Member, I now turn to today’s Bill: the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill, which amends and consolidates the laws on rescue, rehabilitation and insolvency of individuals and companies. It repeals the 19th-century colonial Insolvency Ordinance, and amends the Companies Act, No. 07 of 2007, the Inland Revenue Act, No. 24 of 2017, the Mediation Boards Act, No. 72 of 1988, and others.

¶ 13 I wish to highlight a salient point made before the Committee on Public Finance by investment expert Mr. Thilan Wijesinghe: we should study India’s 2016 Insolvency and Bankruptcy Code, which reduced NPAs on Indian balance sheets from about 9 per cent to 2 per cent or less through time-bound processes. Our Bill provides only two months initially for rehabilitation, while India provides 180 days initially and a maximum of 360 days. When converting from a debtor-controlled to a creditor-controlled process, investors need confidence. Time-bound, realistic windows matter for distressed companies seeking relief.

¶ 14 On another matter: after cyclone “Ditwah,” the Government’s response to assist those who lost property has been a colossal failure. I come from the Central Province.