🚨 CBSL Denies Regulation Claims by Kasagala Green Plantation; Confirms Investigation

The Central Bank of Sri Lanka (CBSL) has categorically refuted public statements made by Kasagala Green Plantation Ltd. (KGPL) Director Malwattage Ranjith Nandana Pieris during an ITN television broadcast on June 8. • The False Claims: The KGPL Director stated that the company is regulated by the CBSL, submits mandatory data to the apex bank every six months, and is subject to direct CBSL inquiries for any operational concerns. The CBSL labeled these claims as completely incorrect, misleading, and legally baseless. • The Investigation: Far from regulating the entity, the CBSL revealed that it is actively investigating KGPL under the Finance Business Act, No. 42 of 2011 (FBA). • The Scope: The ongoing probe aims to determine whether the plantation company has unlawfully conducted finance businesses or accepted public deposits in direct violation of Section 2 of the FBA. • Public Warning: The CBSL issued this formal clarification to prevent serious financial damage to the public, who may have been misled by the television and social media broadcast.