Depositors of CIFL who have been denied of their money with due interests at a press conference held at OPA observed that an integrated approach is being made to recover their money.
CIFL depositors’ Association President Vijaya Gunawardena said, “We already have had several discussions with the Central Bank on measures taken to retrieve depositor’s money from CIFL with the due interests.
“Originally we deposited large sums of money with the CIFL since it had the Central Bank’s license. From that initial deposit base of Rs 3.5 billion, they have invested Rs 1.2 million in Aspic Homes a subsidiary of CIFL. Aspic Homes has not paid our money back with the due interests to its mother company. Now the depositors who are denied of their finances are in the process of helping CIFL to recover that money from Aspic Homes”, he added.
“We received interests for our deposits up to 2013 and since then not a single cent has been paid to depositors,” Gunawardena stressed.
Dakshitha Bogollagama who is a Director of Citi Finance Company and an investor said an integrated approach is made towards recovering the due amounts of money from Aspic Homes.
It was said at the press-con that Bogollagama was in touch with investors from Singapore who are willing to invest money in the company once it startsed smooth sailing.
‘Citi Finance Corporation Limited’ Company has been commissioned in 1962 with the name; Industrial Finance Limited by Thudawe brothers.
In 2008 Industrial Finance Limited Company’s balance sheet showed a risk of Rs 400 million thus Aspic Group bought the company. At the time CIFL was a subsidiary of Aspic Group.
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