"Accordingly, the Monetary Board of the Central Bank of Sri Lanka has decided to invite fresh proposals once again from all five selected prospective strategic investors in accordance with revised criteria," the regulator said in a statement.
John Keells Holdings, Lanka ORIX Leasing Company, National Development Bank, Sampath Bank and V V Karunaratne & Company, were earlier short listed and given information about the Seylan.
Only Sampath and LOLC submitted bid for the bank.
The central bank said, potential buyers would be given till June 05 to submit fresh bids. The Central Bank would announce the winner on June 16.