Indian investers have expressed concern at companies they have invested in, being listed among the 37 companies identified by the government through in the expropriation act as 'underperforming'.
The investors are said to be studying the provisions of the Act very carefully.
According to reports, the investors, such as one involved in the export of Wanaspathi oil, are in the process of appealing to the Indian High Commission to intervene.
The bill, which was passed as law - the Revival of Underperforming Enterprises and Underutilized Assets Act - allows the government to takeover companies it deems to be underperforming.
Twenty percent of the US$560 million of foreign direct investment received last year was from India.
See previous articles:
Central Bank defends takeover bill (19 Nov 2011)
Moody's slams government's expropriation bill (14 Nov 2011)
SL struggling to revive state-owned businesses (13 Nov 2011)
Volumes down as bourse reacts to expropriation bill (11 Nov 2011)
Parliament passes expropriation bill (10 Nov 2011)
Supreme Court backs government's expropriation bill (08 Nov 2011)
Expropriation bill claims first victim (05 Nov 2011)
Sri Lankan Government to 'takeover 36 private companies' (01 Nov 2011)
Asset expropriation bill expected to be passed soon (28 Oct 2011)
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