Case against Ceylinco Land Exchange Company:

Five suspects granted bail

Sarath MALALASEKERA

The Colombo Additional Magistrate Giyan Ranawaka yesterday granted bail for five suspects of the Ceylinco Land Exchange Company and directed them not to leave the country without prior permissions of the Court and to impound their passports.

The complainant in the case E.A.P. Property Developers Private Company had stated that the Ceylinco Land Exchange Company had not honoured cheques issued to them for Rs. 550 lakhs.

For the five suspects who were not present in court yesterday, the Magistrate issued notice on them to appear in court on May 29.

The Magistrate directed the five directors of the Ceylinco Land Exchange Company who were granted bail to furnish a bond of Rs. one million each and directed them to appear in court on May 29.

The ten suspects are Lalith Kotalawela, Bathiya Samarasinghe, W. B. Krishantha Joseph Fernando, Wasantha Kumara Galaboda, Chandrasiri Kodagoda Gamage, Ajith Rohana Gunawardena, Bandula Ranaweera, Cecilia Kotalawela, W. Herath, M. Nimal Bandara and Nirmal de Silva. Senior Counsel for the suspects Upali Gooneratne, Ajith Pathirana, Lal Kularatne, Kolitha Dharmawardena, and Kuwera de Soysa in their lengthy submissions told court that it has no jurisdiction to hear the case and moved court to discharge the suspects.

The defence counsel submitted that the directors of the company are not responsible for this act. According to the reports before court the Company’s name had not been mentioned as a suspect, the Senior Defence Counsel said.

Sisira Siriwardena, senior counsel for the complainant, submitted to court that this court has power to hear this case, where the company had issued cheques to a tune of Rs.550 lakhs without funds in the bank.

The directors of the company are responsible for this act, senior counsel Siriwardena said.