Sri Lanka Customs has agreed to release 991 BYD electric vehicles currently held in its custody, subject to several conditions, the Court of Appeal was informed on Thursday.
The development came during the hearing of a petition filed by John Keells CG Auto Pvt. Ltd. challenging the prolonged detention of the imported vehicles.
According to submissions made in court, the Customs Department has stipulated that a sum of approximately Rs. 3.6 billion — representing the disputed difference in duties — must be provided as a bank guarantee through a state-owned bank. In addition, the petitioner has agreed to bear the interest costs related to the guarantee.
Of the 997 vehicles originally held, six will remain in custody for ongoing investigations, while the remaining 991 will be released under the proposed terms.
Following partial agreement by the petitioner to the proposed conditions, the Director General of Customs expressed consent before the court to proceed with the release of the vehicles under the outlined terms. (Islandnews)
