Even while some depositors have requested that the reforestation company to be liquidated, Touchwood Investments has announced that it is to begin a new operation at another premises under a new theme and a new logo.

It states that its offices would be moved to Pelawatte in Battaramulla and its operations would begin on 02 June.

The new directors are Wijendra Kiwulegedera as chairman and chief executive officer and Upul Indrajith Pieris and Anuradh Dias Bandaranayake as directors.

Its new theme is ‘Your Future Breath’ and its bankes are Bank of Ceylon, Hatton National Bank and Sampath Bank.

Court is to deliver its final verdict on the case to liquidate Touchwood Investments on 05 June.

Meanwhile, AdaderanaBiz revealed recently that the Securities and Exchange Commission is preparing to take legal action against frauds confirmed as having been committed by the earlier management of the crisis-ridden Touchwood Investments.

The Securities and Exchange Commission had discovered considerable facts on the frauds alleged to have been committed by this company

The Securities and Exchange Commission in cooperation with the Criminal Investigations Department and Interpol had investigated into the frauds allegedly committed by management of this company and had discovered considerable facts.

Based on these facts the Securities and Exchange Commission is soon to take legal action against the earlier management of the company.