Former CPC Chairman Dhammika Ranatunga granted bail by Colombo Court
The Colombo Magistrate’s Court today (December 15) ordered the release on bail of Dhammika Ranatunga, the former Chairman of the Ceylon Petroleum Corporation (CPC), who was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).
The order was made by Colombo Chief Magistrate Asanga S. Bodaragama after considering submissions made by officers of the CIABOC and the legal counsel representing the suspect.
During the court proceedings, the CIABOC informed the court that steps will be taken to arrest former Minister of Petroleum Resources Development, Arjuna Ranatunga, and produce him before court as a suspect in connection with the same incident.
Dhammika Ranatunga was arrested earlier today over allegations that he caused a financial loss of nearly Rs. 800 million to the Ceylon Petroleum Corporation.
The CIABOC stated that the loss occurred after he cancelled three long-term tenders planned for fuel procurement for the years 2017–2018 and instead carried out spot tenders at higher prices.
Further investigations into the matter are continuing.
Latest Headlines in Sri Lanka
- Italian Ambassador, Sri Lankan Defence Secretary discuss security ties April 30, 2026
- Oil hits highest price since 2022 as Trump to hear new Iran options April 30, 2026
- India plans new rules as digital payment fraud surges April 30, 2026
- Sri Lanka to set up authority to restore Central Highlands April 30, 2026
- Sri Lanka to launch Colombo Electric Train project next year April 29, 2026