Sri Lanka, Oct. 28 -- The Central Bank of Sri Lanka (CBSL) has declared 27 companies, applications and organisations to be prohibited schemes following investigations conducted under Section 83(C) of the Banking Act, No. 30 of 1988, as amended.

According to the Central Bank, investigations found that Max App Media Ltd., together with its affiliated companies Max LK (Pvt) Ltd. and Max Media Lanka (Pvt) Ltd., had engaged in, conducted and promoted a prohibited scheme.

The following companies, applications and organisations have also been identified and declared prohibited schemes under the relevant provisions of the Banking Act.

1. Tiens Lanka Health Care (Pvt) Ltd

2. Best Life International (Pvt) Ltd

3. Mark-Wo International (Pvt) Lt...