Notice of Action
2023
2022
2021
| Name of the Person | Offence | Date of Notice of Action | Remarks |
|---|---|---|---|
| Shamindra Rajiyah | Conspiracy to breach Rule 31(3) of the Takeovers and Mergers Code of 1995 (as amended) in connection with the Mandatory Offer made by Renuka Capital PLC to purchase the remaining shares of On’ally Holdings PLC during the period 19th January to 08th February 2018 | 27th June 2023 | |
| Dr. Ali Asgar Shabbir Gulamhusein | Conspiracy to breach Rule 31(3) of the Takeovers and Mergers Code of 1995 (as amended) in connection with the Mandatory Offer made by Renuka Capital PLC to purchase the remaining shares of On’ally Holdings PLC during the period 19th January to 08th February 2018 | 27th June 2023 | |
| Dr. Ali Asgar Shabbir Gulamhusein | Aiding and Abetting to violate Rule 31(3) of the Takeovers and Mergers Code of 1995 (as amended) in connection with the Mandatory Offer made by Renuka Capital PLC to purchase the remaining shares of On’ally Holdings PLC during the period 19th January to 08th February 2018 | 27th June 2023 | |
| Chairman and Board of Directors of Shaw Wallace Investments PLC (Former Renuka Capital PLC) | Violation of Rule 31 (3) of the Takeovers and Mergers Code 1995 (as amended) in connection with the Mandatory Offer made by Renuka Capital PLC to purchase the remaining shares of On’ally Holdings PLC during the period 19th January to 08th February 2018 | 27th June 2023 | |
| Shaw Wallace Investments PLC (Former Renuka Capital PLC) | Violation of Rule 31 (3) of the Takeovers and Mergers Code 1995 (as amended) in connection with the Mandatory Offer made by Renuka Capital PLC to purchase the remaining shares of On’ally Holdings PLC during the period 19th January to 08th February 2018 | 27th June 2023 | |
| P.D Nalin Perera | Market Manipulation (Rule 12 of the SEC Rules) in the shares of Union Chemical Lanka PLC during the period 01st to 30th November 2020 | 18th May 2023 | |
| Dr. S.M.D.N.P. Banda | Market Manipulation (Rule 12 of the SEC Rules) in the shares of Associated Motor Finance Co PLC during the period 04th June to 22nd June 2021 and Palm Garden Hotels PLC during the period 12th July to 26th July 2021. | 16th May 2023 | |
| S.M. Upendra Premarathna Aruna Banda | Market Manipulation (Rule 12) in the shares of Associated Motor Finance Co PLC during the period 04th June to 15th June 2021 | 16th May 2023 | |
| Pahalagedara Hewayalage Indrani Chandralatha | Insider Dealing (s. 137 (2) (a) of the Securities and Exchange Commission of Sri Lanka Act No 19 of 2021) in the shares of Multi Finance PLC during the period 16th December 2021 to 12th January 2022 | 16th May 2023 | |
| K. Naveekanth | Conspiracy and Market Manipulation (Rule 12 of the SEC Rules) in the shares of Industrial Asphalts (Ceylon) PLC during the period March 2019 to March 2020 | 15th May 2023 | |
| G. Ramanan | Conspiracy and Market Manipulation (Rule 12 of the SEC Rules) in the shares of Industrial Asphalts (Ceylon) PLC during the period March 2019 to March 2020 | 15th May 2023 | |
| Mohammed Husain Nassim Hussain | Market Manipulation (Rule 12 of the SEC Rules) in several shares traded on the CSE during the period 01st September 2020 to 15th January 2021 | 26th April 2023 | |
| Arjun Aloysius | Conspiracy and Aiding and Abetting to commit Market Manipulation (Rule 12 of the SEC Rules) in the shares of Ceylon Grain Elevators PLC during the period 14th December 2010 to 3rd March 2011 | 24th April 2023 | |
| Sriyan Gurusinghe | Conspiracy and Market Manipulation (Rule 12 of the SEC Rules) in the shares of Ceylon Grain Elevators PLC during the period 14th December 2010 to 3rd March 2011 | 24th April 2023 | |
| Dinal Wijemanne | Conspiracy and Market Manipulation (Rule 12 of the SEC Rules) in the shares of Ceylon Grain Elevators PLC during the period 14th December 2010 to 3rd March 2011 | 24th April 2023 | |
| Riyaz Sangani | Insider Dealing (Section 32 (1) of the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987) in the shares of Vidullanka PLC on 06th July 2015, on 03rd August 2018, on 17th January 2020, on 28th February 2020, on 02nd March 2020, 04th March 2020 and procuring and/or counseling another to commit Insider Dealing (32 (6) of the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987) in the shares of Vidullanka PLC during the period 07th January to 10th March 2020 | 23rd March 2023 | |
| Sattar Kassim | Insider Dealing (Section 32 (1) of the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987) in the shares of Vidullanka PLC on 11th February 2016 | 23rd March 2023 | The matter was compounded for Rs.3 Million based on his request to compound |
| Lakshmi Renuka Premani Dossa | Insider Dealing (Section 32 (1) of the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987) in the shares of Hunter & Co PLC on 29th January 2021 | 21st March 2023 | |
| Name of the Person | Offence | Date of Notice of Action | Remarks |
|---|---|---|---|
| Tushan Wickramasinghe | Market Manipulation (Rule 12 of the SEC Rules) in the shares of Browns Investments PLC during the period 08th December 2020 to 04th January 2021 | 05th September 2022 | |
| K.A.L.D. Lanka Kannangara | Creation of a false market/false price (Rule 12 of the SEC Rules) in the shares of Ascot Holdings PLC during the period 05th September – 30th September 2011 | 18th July 2022 | |
| W.D.N.H Perera | Creation of a false market/false price (Rule 12 of the SEC Rules) in the shares of Ascot Holdings PLC during the period 05th September – 30th September 2011 | 18th July 2022 | The matter was compounded for Rs. 3.3 Million based on request made on his behalf. |
| Name of the Person | Offence | Date of Notice of Action | Remarks |
|---|---|---|---|
| R K Kaluthanthrige Don | Creating a false price in the shares of Expolanka Holdings PLC during the period 06th October to 21st October 2020 (Rule 12 of the SEC Rules) | 15th January 2021 | Further to the decision of the Commission taken at its 474th Meeting held on 10th October 2022 these persons were warned and discharged |
| G B D Tilakarathne | Creating a false price in the shares of Expolanka Holdings PLC during the period 15th September to 05th November 2020 (Rule 12 of the SEC Rules) | 15th January 2021 | Further to the decision of the Commission taken at its 474th Meeting held on 10th October 2022 these persons were warned and discharged |
| H M C B Mavilmada | Creating a false price in the shares of Expolanka Holdings PLC during the period 02nd September to 05th November 2020 (Rule 12 of the SEC Rules) | 15th January 2021 | Further to the decision of the Commission taken at its 474th Meeting held on 10th October 2022 these persons were warned and discharged |