Thursday, February 26, 2009

Ceylinco Chairman Lalith Kothalawala Remanded For Financial Mismanagement

Sri Lanka’s well known businessman Mr. Lalith Kothalawala has been remanded by the Mt.Lavinia magistrate this afternoon. Mr. Kothalawala is a top businessman in Sri Lankan who has more than 250 businesses where most of them are financial institutions such as banks, finance companies and real estate companies.

The controversial Golden Key credit card company which was owned by him crashed off recently due to the financial mismanagement. It is believed that the billions of customer deposits have been swallowed by the company. Recently Mr. Kothalawala announced that he will sell his stake in Saylan bank to repay the customer deposits of Golden Key company and after that feared customers of the bank started withdrawing money.

A warrent has issued to remand his wife Cecile Kothalawala also and magistrate has also ordered to repay the customer deposits within 10 days.         


  1. I did admire Dr. Kothalawala for establishing so many useful companies for Sri Lanka - From the Point of Business: A Man with a vision. Think of the Cancer, diabetes Hospital and Eye Hospital. How important what enrichment. Think of the Monther and child Hospital it would have been so important. Sorry he did not have the oversight to handle the different departments and Companies.
    In our Society it is soo difficult to get competent people to work and oversee. He was totaly played out. The worst thing, He trusted his people. That shows, he did not believe they could be crooks.
    If we would give him time, again and again he said I will make the payments for all, I will not run away...... But his CEOs too have to move and get stuff sold and sold fast, payments have to be made fast. Kothelawalas Man are turning vey slowly. They are the culprits. One man Mr. Nirmal de Silva is doing what he can to lighten the load of Mr. Kothalawala.He is an honarable man. Let us give them some time.
    Sri Lanka needs more Kothalawalas - of course with good CEOs. and therefore good endings, where the people of the country will be blessed. He gave many employments. Gave good Interest. People benefited for a long time. If not for greed this could have benefited so many families.
    What now.? Powerty has come back.....
    Lets be mecyful to this man - he wanted to do good. We all know it is difficult to depend on people, they will use you and play you out. He still did a great job.

  2. dear viewer's

    i 've heard of lalith kotalawala's situation....he will pay back to you those who have invested...we are praying that he will do it soon ,coz some are going mad...
    give him a chance

  3. lalith is a nothing but a crook who loves to give donations to people on the expense of innocent naive people.and is nuts about publicity, would do anything to appear on news paper and other forms of meadia.

  4. Lalith Kotlawela gives out money in forms of loans and then puts you into shit and then collects everything back in the form of interest and mortgages.

    If you have done wrong the Lord is watching and you will get caught either in this life or the next. You cannot fool the Lord. you cannot escape his justice

  5. Mr. Kotelawawla will soon sell his few businesses and settle the mismanaged money. But my personal opinion on this is Courts should have not remanded this man or done any unwanted thing to this man because he is an owner of over 30 Towers which are over 10Storied in Sri Lanka. And 250 Companies with nett Profit exceeding RS 25Billion, Mr. Kotelwala has donated Millions to poor, a Politicians or Courts will never do,Have you ever heard a Politician invests RS 1million or 2 Laks to buy books to the needful, no , If they collect they collect them from Companies which are Called sponsors, a a minister will do his/her best is take the money left in the Government treasury when leaving for home. Even the Sri Lankan President will never give RS 5 million with his own money so he his nett worth to Sri Lanka and a national asset. Most of the people don't understand these things because most of the Sri Lankans are Middle Class - Lower Class or Lower Class. Mr. Kotelwawla.
    And what is the big reason the Judge had to remand such a man ? Is it because he has given over 3 Laks Jobs to Sri Lankans? or is it because he has Developed half of Sri Lanka ? or is it because he has helped poor than any one will do to Sri Lanka ? or is it because misappropriation of RS26 Billion - Goddamn Was the Magistrate was such a fool to remand such as guy with huge assets in Sri Lanka, or did he try to make history remanding a rich man ? Even do you Know the name of that Judge ? Now we have a question How ignorant are Sri Lankan Judges. Go to Schools as memorize what is in book, Pass the examinations, but they are useless in their minds and do foolish things in ground. how can the court earn such billions it doesn't belong to courts at all, You mind your own business.

    It is hard to loose your thousands and stay at home though should think this in deep or international will call Sri Lankans fools or ignorant.


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