Daya Gamage’s companies to be auctioned over loan default
Three institutions reportedly owned by former Minister Daya Gamage are set to be publicly auctioned following a decision by the Colombo Commercial High Court.
According to the Registrar and the Deputy Fiscal of the Colombo Commercial High Court, the auction will take place on July 2 at 10:00 a.m.
The decision to auction the three institutions was made to recover a sum of Rs. 104,229,342 owed to People’s Leasing and Finance PLC.
Out of the total debt of Rs. 108,309,342, the respondents have already paid approximately Rs. 4,080,000. Therefore, the auction is being held under a court ruling issued on November 10, 2022, to recover the remaining balance.
The institutions to be auctioned are Daya Group Limited, Daya Apparel Exporters (Private) Limited, and Olympus Construction (Private) Limited.
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