Former Central Bank Governor Ajith Nivard Cabraal has withdrawn the appeal petition he filed in the Supreme Court challenging the Greek bond case against him before the Colombo Permanent Trial-at-Bar, Hiru News reported on Friday.

Lawyers representing Cabraal told the court the petition was being withdrawn because the Permanent Trial-at-Bar is scheduled to announce its order in the underlying case.

What the case is about

The prosecution, brought by the Commission to Investigate Allegations of Bribery or Corruption, concerns the Central Bank’s investment in high-risk Greek sovereign bonds between 11 March 2011 and 19 November 2012, at a time when Greece was in severe economic crisis. CIABOC alleges the investments caused the Sri Lankan state losses of more than Rs. 1.84 billion.

The case is being heard by a three-judge Special Trial-at-Bar comprising Presiding Judge Manoj Thalgodapitiya with judges Udesh Ranatunga and Buddhika C. Ragala, as NewsFirst reported in July.

Why this is a fresh indictment, not the old case

Readers searching for this case will find earlier reports in which Cabraal was discharged or acquitted over Greek bond proceedings. Those concern an earlier prosecution over the same transactions. According to NewsFirst’s account, after the accused allegedly failed to comply with a condition requiring the state’s losses to be settled within three months, CIABOC moved to file a fresh indictment before the Trial-at-Bar under the new Anti-Corruption Act. The present proceedings are that fresh indictment.

Cabraal’s counsel, President’s Counsel Sampath Mendis, had raised preliminary objections on 30 June arguing the Special Trial-at-Bar lacked jurisdiction, principally on the ground that the court was created only by the Judicature (Amendment) Act No. 9 of 2018 and so could not hear offences alleged to have occurred in 2011 and 2012. The Trial-at-Bar rejected those objections unanimously on 13 July, and the trial was set to begin on 20 July.

The Supreme Court appeal withdrawn on Friday was the challenge that followed.

Not reported

Hiru’s filing is brief. It does not say when the Trial-at-Bar order is expected, what the order will decide, or on what grounds the Supreme Court appeal had been brought. It does not name the Supreme Court bench or Cabraal’s counsel in the appeal, and it does not report any position taken by CIABOC on the withdrawal.

It also does not state what stage the trial itself has reached since July, or whether any co-accused remain party to the proceedings.

A single-source report for the current development

The withdrawal itself is reported here on one verified newsroom. The July background above is drawn from NewsFirst’s contemporaneous account, which is linked in text rather than listed as a source for today’s event because it predates it by three months. Ada Derana’s site has returned a CloudFront block to this desk for eighteen consecutive days.

Source: Hiru News.