An account holder of Seylan Bank PLC has informed Colombo District Court that its CEO Kapila Ariyaratne and Seylan Bank had fraudulently calculated the interest amount by deferring and avoiding the calculation of interest and payments due to him.
The complaint was made by Security Kingdom (Pvt) Ltd alleging that Seylan Bank PLC has charged 28% interest on a bank overdraft of Rs. 1.5 million with the aim of cheating and gaining high profits fraudulently.
The summons in the above case was handed over to the defendants including the CEO in September 2021 and then the defendants filed a preliminary hearing on September 23, 2021 and asked for dates for objections and answers.
In paragraph 17 and paragraph “b” of the plaintiff’s complaint, Seylan Bank is accused of concealing the details requested, failing to provide information and delaying, charging the plaintiff with high interest and fraud.
The bank has also been accused of failing to provide the required details to the account holder despite issuing an interim notice within a short time regarding paragraph 17 of the complaint and paragraph “b” of the complaint.