The 'King Fisher Marketing' company was fined ten lakh rupees for selling rice above the stipulated price.

Colombo Additional Magistrate Darshika Premaratne ordered a prominent rice trading establishment in Pettah, which was accused of selling rice above the government-stipulated control price, to pay a fine of ten lakhs rupees. This penalty was imposed after the defendant company pleaded guilty in court to two cases filed by the Consumer Affairs Authority.

The rice trading business that was subjected to this severe penalty was 'King Fisher Marketing', located on Old Moor Street, Pettah.

These two cases were filed by the Narahenpita District Office and the Colombo Head Office of the Consumer Affairs Authority. According to the first case, the defendant institution was accused of selling rice for Rs. 10 more than the control price on or around January 29, 2026, despite a maximum retail price of Rs. 230 being imposed for a kilogram of local Nadu rice. In this instance, they had sold a 5 kg bag of 'New Rathna' brand local Nadu rice to consumers for Rs. 1200, which means Rs. 240 per kilogram.

This illegal rice sale was uncovered during a raid conducted by investigation officers S. G. Punchihewa, Harshana Kumara, and Piyal Samaranayake of the Narahenpita District Office, and the cases were filed with the bill issued at the time presented as evidence. Additionally, the second charge was for selling local Kiri Samba rice for Rs. 80 more than the control price, i.e., Rs. 340 per kilogram, violating the maximum price limit of Rs. 260 per kilogram.

When these cases were initially called, the defendant institution declared themselves innocent, leading the court to set dates for the trial. However, when the case was later taken up for hearing, the defense changed its previous stance and took steps to admit guilt to the charges leveled against them.

Representing the prosecution, Consumer Affairs Authority investigation officer S.G. Punchihewa informed the court that under the Consumer Affairs Authority Act, an institution committing such an offense for the first time could be fined between Rs. 5 lakhs and Rs. 50 lakhs. He also requested the Magistrate to impose an exemplary penalty that would send a strong message to other traders operating above the control price, given the strong tendency of businesses to sell rice at inflated prices in the current market. He further stated that if the defendant institution commits this offense again, they could be subject to a larger fine ranging from Rs. 10 lakhs to Rs. 100 lakhs.

The lawyer representing the defendant company requested the court for a lenient sentence, stating that his client had saved the court's valuable time by pleading guilty to the charges. After carefully considering all the facts presented, the Colombo Additional Magistrate ordered the defendant institution to pay a total fine of Rs. 10 lakhs, with Rs. 5 lakhs for each of the two charges.