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SLC chief gets bail in share scam

Colombo: Sri Lanka’s cricket chief Jayantha Dharmadasa was granted 100,000 rupees ($ 910) bail by the Commercial Court of Colombo over his alleged role in manipulating share prices.

Dharmadasa, who heads Sri Lanka Cricket, the governing body of the sport, his son and seven others are charged with illegally boosting the share price of Nawaloka hospitals, in which they hold a majority stake.

The cricket chief was granted bail along with his son and others when the case was called on Friday.

Sri Lanka’s securities watchdog last year filed a case against all nine for alleged “acts to create a false and misleading appearance of an active share market.”

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