Central Bank withdrew its appeal in the Supreme Court, against the order given by the Court of Appeal on the Pramuka case on Monday.
The Appeal court issued a writ of mandamus directing the Central Bank to explore options other than liquidation to resolve the Pramuka Savings & Development Banks problems.rn
rnThe depositors lawyers complained to Supreme Court that the Central Bank was not trying hard enough to push through other options to restructure Pramuka Bank.rn
rnDepositors also voiced concern over the old Pramuka management being given freer access to the books of Pramuka Bank.rn
rnSupreme Court dismissing the appeal, directed Central Bank to consult depositors, through their representative K C Vignarajah, in any future attempts to restructure Pramuka Bank.rn