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July 29, Colombo: The Magistrate Courts of the Colombo Fort today adjourned the decision of bail for the four directors of the troubled Ceylinco Group including its chairman Lalith Kothalawela.
When the case related to the financial fraud at Ceylinco Shriram, Ceylinco Capital Management and Ceylinco Investment and Asset Management was heard this afternoon the Chief Magistrate Gihan Pilapitiya adjourned his decision until the 10th of August.
The chairman of the Ceylinco Group, Lalith Kothalawela, directors S.K De SIlva, P.K Karunanayaka, and A.D Jegadeesan were expected to be bailed out from the Court this afternoon.
When the case was heard the deputy Solicitor General Wasantha Bandara submitted his objections over the bail out of the four Ceylinco directors.
Additionally, the Court ordered an audit of Ceylinco Shriram, Ceylinco Capital Management and Ceylinco Investment and Asset Management and also asked the CID to record a fresh statement from the Ceylinco group Chairman Lalith Kothalawela.
Meanwhile, the depositors also staged a protest campaign outside the court complex this afternoon.
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