Second Central Bank bond-scam prosecution against Ravi Karunanayake adjourned pending new trial bench
Regarding Ravi Karunanayake
What happened?
On 10 September 2026, the Colombo High Court adjourned a Central Bank bond-scam prosecution concerning the 29 March 2016 bond auction, after finding that the Permanent Trial-at-Bar bench previously assigned to hear it had not been fully constituted. The Attorney General has filed 32 indictments against 11 accused, including Karunanayake and former Central Bank Governor Arjuna Mahendran, alleging a loss of approximately Rs. 36.98 billion to the State. This is a separate prosecution from the 27 February 2015 bond-auction case already recorded for Karunanayake, which involves 23 indictments and a smaller alleged loss.
What changed?
This is the first time this specific 2016 bond-auction prosecution has been recorded for Karunanayake on Nadu, alongside his existing, separate 2015 bond-auction case. No conviction has occurred in either matter.
What happens next?
4 October 2026: The case is due to be recalled once a new Permanent Trial-at-Bar bench has been constituted. Two outlets report 4 October 2026 as the date, though that date falls on a Sunday and should be treated as provisional pending confirmation.
The case
People involved
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