Mahendran insisted on Rs.10bn bid

Former Central Bank Governor Arjuna Mahendran had recommended that the Rs.2.6 billion bid made at the bond auction be ignored and the Rs.10 billion be accepted instead, Central Bank Statistics Department Additional Director Dr. M.Z.M. Aazin today told the Presidential Commission of Inquiry (PCoI) inquiring into the CB bond issue. He testified that the documents relating to these recommendations had not been submitted to the Parliamentary Committee on Public Enterprises (COPE) when it inquired into this matter.