Protesters question Kothalawela bail
Investors of the Ceylinco Consolidated call upon the government to intervene to resolve the crisis created by payment defaults.
The protesters gathered in front of the Hulstdorf court complex said that the government needs to intervene in getting back their investments and deposits from Ceylinco companies. “The Central Bank needs to intervene because it is their responsibility “ said one of the protesters who had invested in the Golden Key Credit Card Company of the Ceylinco group. The protesters said that the Ceylinco Chairman is trying to get out of remand custody without offering an assurance of paying back or providing a payment plan. The Colombo Magistrates Court ordered the bail application of Ceylinco Chairman Lalith Kothalawela to be taken up for hearing on 26th of March. The Ceylinco chairman has been remanded in connection with financial fraud exceeding 26 billion rupees of the Golden Key Credit Card Company. The protesters said that the Ceylino chairman’s wife Sisiliya Kothalawala who is a company director needs to show up and sort out matters if they are honest. Reportedly Ceciliya Kothalawala is out of the country.