Krrish given more time to pay for Sri Lanka land: report

(From left) Dharmasri Kumaratunga, Director - Payments and Settlements, Central Bank; Nanda Fernando, Managing Director, Sampath Bank; and Tharaka Ranwala, Head of Operations and Group Chief Marketing Officer, Sampath Bank

July 17, 2013 (LBO) – Sri Lanka has given another extension to pay for state land in the capital Colombo for a proposed real estate project by India’s Krrish group, a media report said. Sri Lanka’s The Island newspaper said the firm had been given till July 31 to pay up the balance due for the land, after full payment was not made by July 15.

The project has run into controversy amid allegations of pay-offs being made which had been denied.