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.
Latest Headlines in Sri Lanka
- Lanka Ashok Leyland donates vehicles worth Rs. 65 Million to support Sri Lanka’s disaster response December 6, 2025
- Sri Lanka President orders unified drive to speed up disaster recovery December 6, 2025
- Sri Lanka extends income tax return deadline due to Cyclone Ditwah December 6, 2025
- CBSL announces relief measures for people and businesses hit by cyclone and floods December 6, 2025
- German Defence Attaché calls on Sri Lanka’s Defence Secretary December 5, 2025
