Krrish scandal sets stage for a major shake-up at SEC

The Colombo Krrish Square scandal over alleged kickbacks received by a prominent official to secure the legal rights to develop the Transworks property at Colombo Fort is to claim its first victim setting the stage for a major shake-up in the country’s capital market regulator, informed official sources said.

Construction work of the project has come to a standstill and the massive hoardings advertising the Krrish towers have disappeared and no statements are forthcoming from anyone on the current status.

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(Source: Sunday Times)