Ceylinco Shri Ram suspects granted bail

Sarath MALALASEKERA

The Colombo Fort Magistrate and Additional District Judge Gihan Pilapitiya yesterday granted bail to the two main suspects in the Ceylinco Shri Ram Company, CEO Hiran de Silva and Director-General Manager Rajiv Wijesinghe.

The Judge directed them to furnish cash bail in a sum of Rs. one million and a bond of Rs.10 million with four sureties each.

The suspects were directed to appear at the CID on every Sundays between 9 am and 12 noon. Impounding their passports the Judge directed them not to leave the Western Province without informing the area police station.

Deputy Solicitor General Wasantha Navaratne Bandara who appeared for the Attorney General submitted to court that the suspects should forward the re-payment plan and obtain an order from the Supreme Court.

Earlier the Judge directed the ten suspects in the Ceylinco Shri Ram Company alleged misappropriation case to forward their affidavits to the Attorney General to settle the depositors.

The Company is alleged to have misappropriated the depositors' funds running into several millions.

President's Counsel Gamini Marapana, Senior Counsel for the Defence, submitted to court that they have already complied with the court order and moved court to grant bail for the two suspects. President's Counsel Reinzie Arasacularatne, Kuvera de Soysa, Jeewantha Jayatilleke, Ranjan Mendis, Naveen Marapana, Asela Rekawa, Siraz Noordeen, Sudhashini Gunaratne, Krishan Jayaratne, Haritha Adikari and Tazio Ratnayake appeared for the Defence.

Attorney Seetha Wijewardena watched the interests of the depositors.

The case will be called again on December 15.