An investigation is being carried out with regard to the activities of Kasagala Green Plantation, says CBSL

The Central Bank of Sri Lanka (CBSL) has announced that it is conducting an investigation into the activities of Kasagala Green Plantation (Private) Limited (KGPL) under the provisions of the Finance Business Act, No. 42 of 2011 (FBA).

This follows public statements made by Malwattage Ranjith Nandana Pieris, Director of KGPL, during an appearance on ITN’s “Pini Viyana” programme on June 8, 2026. Pieris claimed that KGPL was regulated by CBSL, submits reports to the regulator every 6 months, and would be subject to CBSL inquiries if concerns arose.

CBSL has categorically denied these claims, stating they are “factually incorrect, misleading, and have no legal basis.” The regulator emphasized that such statements could mislead the public and cause serious harm, especially when disseminated through television and social media.

The ongoing probe seeks to determine whether KGPL has carried on finance business without authorization and accepted deposits from the public in violation of Section 2 of the FBA.

CBSL clarified that KGPL is not a regulated entity under its supervision and urged the public to exercise caution when dealing with the company.