Touchwood boss could face jail?

CEO of Touchwood Investments Plc (TWOD), Vijan Lanka Kiwlegedara could face arrest after handing over a bad cheque of Rs. 21 million, reports say. Handing over a bad cheque intentionally is considered a criminal offence and challenges Kiwlegedara's competency to hold leading posts in a listed firm. Under this backdrop, a special AGM could also take place, reports say. Source say that Kiwlegedara also faces charges of misleading the judiciary by handing over a bad cheque. The charge is leveled after a motion filed in the Commercial High Court of Colombo by a petitioner named Priyanka Nanayakkara (petitioner) called to wind up the TWOD. The call for the appointing of a provisional liquidator is expected to continue. The case is to be taken up today (March 06). Meanwhile, it is said that the company has been shifted to No. 220, Nawala Road, Nawala and further inquires can be made on 0777-077324.   Slbiznews

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