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I Will Tell

Sharhan Muhseen and Raja Senanayake

Distressed depositors of the failed Pramuka Savings & Development Bank say that they are complaining to Courts that the Central Bank is not properly carrying out judicial orders.
Pramuka Bank has failed to attract serious investor interest, after Central Banks deadline lapsed on Wednesday.rn

rnOn Friday, depositors wrote to the Monetary Board complaining that they had not received an answer to an earlier letter.rn

rnLawyers to Pramuka depositors said the only option left was to report the matter to Court.rn

rnAt a media briefing on Tuesday, Pramuka Depositors warned of possible legal action for damages against Central Bank, KPMG Ford Rhodes & Thornton and the bank management, if authorities proceed with the liquidation of the bank as the deadline for expressions draws close.rn

rnldblquote We will sue Central Bank who did not take action for three years and the auditors who endorsed a report that showed a profit when the bank was making losses, dblquote says Pramuka Depositors Association Presi

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