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Golden Key Scam - SC approves sale of some Ceylinco properties

Sunday, 8 August 2010 - 1:25 PM SL Time
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The Committee of Chartered Accountants, Chaired by Dr. Laxman R. Watawala, yesterday submitted to the Supreme Court a report recommending the sale of some property owned by the Ceylinco Group of Companies, to credit the consolidated fund, to repay the aggrieved Golden Key credit card depositors.


The properties include the ENT Hospital, the Sea Sand Hotel and three floors of the Ceylinco House, Colombo. The committee also recommended the confiscation and the sale of property owned by Director Kavan Perera, to credit the consolidated fund to repay the depositors.


There was also a suggestion that Ceylinco Group Chairman Lalith Kotalawala s property at Fonseka Place, Colombo 5 be sold to raise funds for repaying the depositors.


The Supreme Court approved thee proposals for the benefit the depositors, who had complained that the Golden Key had failed to repay their deposits.


Meanwhile, Attorney General Mohan Pieris PC, who appeared for the state told the Court that the State would institute criminal proceedings against the Chairman and Director of the Golden Key, who had not paid the dues of the depositors.


The Bench comprised Justices Shirani Tilakawardene, K. Sripavan and Chandra Ekanayake.


Source(s)
• Associated Press

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LankaPride
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LK Information  8 Aug 2010 06:45:05 GMT  Report for Abuse  
Why they cannot sell Ceylinco Insurance and settle all affected at once ?

Why we say it is not under Mr. Kothalawala's Administration ?

Edited By - LankaPride - 8 Aug 2010 06:45:53 GMT
AstroLTTE
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LK Information  8 Aug 2010 06:50:17 GMT  Report for Abuse  
Why they cannot sell Ceylinco Insurance and settle all affected at once ?


Ha ha ha If you know the whole story...u wont ask this...question.....:-))))
AstroLTTE
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LK Information  8 Aug 2010 06:52:47 GMT  Report for Abuse  
There was also a suggestion that Ceylinco Group Chairman Lalith Kotalawala s property at Fonseka Place, Colombo 5 be sold to raise funds for repaying the depositors.


He has properties in Singapore, Malaysia and Switzerland..:-))
LankaPride
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LK Information  8 Aug 2010 07:04:55 GMT  Report for Abuse  
Ha ha ha If you know the whole story...u wont ask this...question.....:-))))


Can you explain little bit more ?
Why they cannot sell Ceylinco Insurance ?
dumindak
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LK Information  8 Aug 2010 07:41:54 GMT  Report for Abuse  

Kotalawala is smarter than Sakvithi. He escaped without running away.
kiwikanga
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LK Information  8 Aug 2010 07:53:08 GMT  Report for Abuse  
Dumindak

He escaped without running away


LK languished in remand for more than an year and was half his size when he came out on bail.

LK was granted cash bail Rs.200,000 and 3 surety bailies of Rs.10 million each with his passport impounded and a condition that he reports to the police every sunday, during the entirety of the proceedings of the case.

Now the SC has ordered that Ceylinco Eye Hospital and Hotel Ceysands be sold. Still the case is not over and there will be some more sales to come!

And you call that 'escaping'!!
Damed
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LK Information  8 Aug 2010 08:03:23 GMT  Report for Abuse  
Already Ceylinco Estates have changed hands.
EEELamaya
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LK Information  8 Aug 2010 09:33:20 GMT  Report for Abuse  
Some 30,000 40,000 prostitutes currently operate countrywide in thousands of trafficking centers, the Health Education Bureau (HEB) told Daily Mirror online....


Finally some good news....!
RealKaruna
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LK Information  8 Aug 2010 11:06:07 GMT  Report for Abuse  
The committee also recommended the confiscation and the sale of property owned by Director Kavan Perera, to credit the consolidated fund to repay the depositors.


Has Kavan Perera been found guilty of fraud? Nothing said about Kotelawala's personal property being confiscated. Has Kotelawala done a KP? (In this instance, KP does not stand for Kavan Perera).

Edited By - RealKaruna - 8 Aug 2010 11:07:17 GMT
Damed
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LK Information  8 Aug 2010 11:31:38 GMT  Report for Abuse  
Has Kotelawala done a KP?


why not....ask 10%.
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