GK directors barred from selling company assets, personal property

(March 11, Colombo, Sri Lanka Guardian) Directors of the collapsed Golden Key (GK) Group were ordered on Wednesday not to sell or transfer company assets nor their own personal assets or shares.The order by Mount Lavinia Chief Magistrate Harsha Setunga in the GK fraud case also applies to the 48 subsidiaries of the group which is part of Ceylinco Consolidated.

All suspects in the case including Ceylinco Chairman Lalith Kotelawala and GK Deputy Chairman Khavan Perera were further remanded till March 26.

The court noticed Ms Jasmine Chitty, Secretary, International Relations in Kotelawala’s office to appear on March 26 to enable the CID to record her statement. Deputy Solicitor General Sarath Jayamanne told court that she had been present – and took notes - at all board meetings where Kotelawala and deputy chairmen in the group met in December 2008 to discuss GK and related issues.

Kotelawala, who is in hospital for an undisclosed ailment, was not present in Court with a doctor submitting a report on his condition. The magistrate ordered the JMO to examine and report on the suspect Chairman’s ailment.

A medical certificate submitted on behalf of Sicile Kotelawala, Lalith’s wife, from a private Singapore hospital, was not accepted. An open warrant has been issued for the arrest of Sicile who is in Singapore.

Mr Jayamanne said she had asked Seylan Bank to transfer Rs 20 million from her NRFC account to an undisclosed party. “If she can do this why can’t come to courts (return to Sri Lanka),” he asked.

Earlier in the morning, a bail application in the Colombo High Court on behalf of Lalith Kotelawala was put off for March 26 at the request of the Attorney General who wanted time to file objections. -Sri Lanka Guardian