Kotelawala’s jail days to end?

(October 23, Colombo, Sri Lanka Guardian) The Supreme Court on Friday granted bail – under tight conditions - to Ceylinco Consolidated Chairman Lalith Kotelawala in the Golden Key (GK) missappropriation and fraud case, clearing the way for him to be permitted bail in other cases, and leading to his ultimate release from the Welikada prison.

Kotelawala, facing an array of charges along with other directors in the group arising out of the GK case where Rs 26 billion is due to investors, has been in jail since February – after his credit company collapsed with desperate depositors clamouring for their money.

Another senior group director Padmini Karunanayake was also permitted bail in the GK case in the Supreme Court but, like Kotelawala, is in remand in other cases but she too is likely to get bail in these cases. “Kotelawala is in remand in connection with the Mount Lavinia Magistrate’s court case on the GK scam and in the Colombo Magistrate’s court case on Ceylinco Shriram. The highest court in the land has given him bail in the main case and I don’t think other courts will now object to bail,” one of his lawyers said.

Friday’s developments came after Kotelawala – who must be the Welikada prison’s most distinguished prisoner -- agreed to the repayment plan to depositors or investors, worked out by a court-appointed committee. The 3-member Supreme Court bench was headed by Justice Shirani Thilakawardena. Stiff bail conditions were placed on Kotelawala.

-Sri Lanka Guardian