Sri Lanka’s Central Bank freezes assets of six companies and the ‘Owners’

The Central Bank of Sri Lanka (CBSL) has freezed assets of six companies and their directors, citing violations of the Finance Business Act, No. 42 of 2011 (FBA).

Acting under Section 44 of the FBA, the Director of the Department of Supervision of Non-Bank Financial Institutions issued orders barring the companies and their directors from disposing of, transferring, or otherwise dealing with any of their properties or assets.

The Colombo High Court has since confirmed and extended these freezing orders.

The six companies named are:

Kasagala Green Plantation (Private) Limited*
Ceylon Green Life Plantation (Private) Limited*
Singhe Capital Investment Limited**
Pro Shop Advertising Holdings (Private) Limited**
Athens International Education Centre (Private) Limited**
Eyon Lanka Investment & Film Production International Company (Private) Limited**

According to CBSL, the first two companies remain under investigation under Section 42 of the FBA, while the remaining four have already been determined by the central bank to have carried on finance business and/or accepted deposits in violation of the law.

Central Bank reiterated that only entities licensed under the Banking Act, No. 30 of 1988, or the FBA — or specifically exempted from those laws — are authorized to accept public deposits.

It says, the Bank is currently investigating several other institutions and individuals based on complaints received, to determine whether they too have been unlawfully soliciting deposits.

The regulator urged the public to deposit money only with legally authorized institutions, warning that failure to do so could result in the loss of their savings.

CBSL also encouraged the public to report any institution or individual suspected of accepting deposits unlawfully.

The notice was issued by the Department of Supervision of Non-Bank Financial Institutions on September 22, 2026.