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SEC Plans Further Action Against MTD Walkers PLC
Rusiripala Tennakoon
Sunday Times BT reported about the engagement of a Local Audit Firm by the SEC to get to the bottom of MTD accounts. This action is pursued in the context of defaulting payments on the type B Debentures issued by this Company and several other irregularities committed there. Non submission of the Annual Reports for 2018/2019, Interim financials after 30th June 2019 and alleged sale of assets associated with siphoning out of Funds without proper internal controls. The Commission has decided to initiate action to conduct a Special Purpose Audit and obtain a report to consider any further action warranted. ....

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