Sri Lanka's auto dealers made large profits last year following an import tax cut and low interest rates.
After bank credit was used to manipulate energy prices, and central bank credit was used to manipulate interest rates, Sri Lanka's currency came under pressure and eventually fell from 110 to 130 rupees and interest rates also rose.
The state then also put up taxes on cars. Cars are a favourite target of rulers when the exchange rate falls from manipulating interest rates.
Sri Lanka's Employees Provident Fund was the top shareholder of the firm with 13.44 percent.