ECONOMYNEXT – Sri Lanka’s Bimputh Finance Plc (BFP), a licensed finance company, has said it will change the company name.
“Since the Central Bank required to exclude … using the word ‘Finance’, … board has decided to change the company name as Bimputh Lanka Investments PLC with effect from 20th May 2024,” the company said in a stock exchange filing.
The Registrar of the Companies had approved the change, it said.
Earlier this year, disciplinary action was taken against the Board of Directors of Bimputh Finance Plc for its failure to submit an annual report in violation of the Listing Rules.
A penalty of one million rupees was imposed on each director of the Board of Directors of the Company on January 5.
In September 2023, Sri Lanka’s central bank cancelled the license of Bimputh Finance Plc, and announced that the remaining deposits will be repaid through a deposit insurance scheme. (Colombo/May17/2024)