India, Dec. 16 -- Sri Lankan authorities are planning to arrest 1996 World Cup-winning captain Arjuna Ranatunga over alleged corruption linked to his tenure as the country's petroleum minister, according to media reports.

According to local media reports, the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) informed a court on Monday that it intends to arrest Ranatunga and produce him before the court in connection with an investigation into an alleged financial loss of nearly Rs. 800 million to the Ceylon Petroleum Corporation (CPC).

The Bribery Commission said Ranatunga has been named as a suspect in a case involving irregular fuel tenders awarded at inflated prices, which investigators allege caused significant...