The Precedent Partner of Nithya Partners, Mr. Arittha R. Wikramanayake was appointed by the Central Bank of Sri Lanka to a four member expert group to advise the banking, financial and leasing industries on the use of a stimulus package approved by the Government of Sri Lanka for the purpose of rebuilding confidence in the financial services industry.

More >>

The Companies Act No. 7 of 2007 (“the Act”) has been passed by Parliament and certified by the Speaker. However, the appointed date for the coming into operation of the Act had not been gazetted by the Minister to-date i.e. 12th April 2007. It is expected that the appointed date would be within the next two months.

More >>

The provisions of the Draft Companies Act (the Draft Act) introduces certain concepts which inter alia affect the definition of capital of a company and other disclosure requirements regarding accounts and responsibilities of auditors. While facilitating transparency, these provisions would also impact those responsible for the preparation of accounts. Some of these aspects are discussed below.

More >>

This article will discuss the SEC perspectives of the New Companies Act and how the proposed changes sought to be introduced through it will effect the responsibilities of directors of quoted companies.

More >>