Central Bank Freezes Assets of Six Companies and Directors

The Central Bank of Sri Lanka (CBSL) has imposed freezing orders on the assets of six companies and their directors. These directives, issued under Section 44 of the Finance Business Act No. 42 of 2011, prohibit the companies and their directors from disposing of, transferring, or otherwise dealing with their properties and other assets. The Colombo High Court has subsequently confirmed and extended these freezing orders. The action was initiated by the Director of the Department of Supervision of Non-Bank Financial Institutions of the CBSL.