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All five accused in Blue Diamond Jewellery Co. Ltd. misappropriation case acquitted

by Kumudu Hettiarachchi

Colombo Fort Magistrate Sarath C. Karunaratne who heard the misappropriation case relating to the Blue Diamond Jewellery Worldwide Company Limited, exonerated all the five accused including the 1st accused Seylan Bank Chairman Deshamanya Lalith Kotalawala of all the charges and acquitted them yesterday (16).

This case was filed by Dayaranjith Senanayake of Eric Place, Colombo 09, on November 15, 2000, against Deshamanya Lalith Kotalawala, Rohini Nanayakkara, Rajkumar Renganathan, Bandula Wansanatha Ranaweera and Henry Anthony Mendis alleging that during the period between september 13, 1999 and 2000, the accused did deceitfully misuse 4800513 shares of the Blue Diamond Jewellery Worldwide Company Limited belonging to Goldlada Limited and thereby they have committed the offence of misappropriation. The 1st to 4th accused were further charged for breach of trust and the 5th accused was charged for aiding and abetting the commission of the said offenses.

The 1st to 4th accused were cited as members of the Board of Directors of the Seylan Bank Limited while the 5th accused was cited as the authorised Attorney of the Goldlada Company, duly appointed by the Complainant.

The Magistrate, having considered the written and oral submissions made by counsel for both parties dismissed the case under Section 186 of the Criminal Procedure Code and acquitted the accused for reasons set out in his judgement.

The Magistrate's Judgement, inter alia stated that the 1 to 4th accused have discharged their duties as the complainant's bankers and that the 5th accused is the complainant's own authorised attorney and that there are two civil cases pending in the District Court pertaining to the same issues as set out in this complaint. The instant case has been filed in this Court, seeking relief that should be sought in a civil action, stated the judgement.

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