Blue Diamond Jewellery Worldwide shares:

Lalith Kotelawala, three others acquitted

Lalith Kotelawala and three other Directors of Seylan Bank were discharged and acquitted in respect of three charges preferred against them with regard to 4,800,513 shares of Blue Diamond Jewellery Worldwide Ltd. The case was filed by its one time Managing Director, Daya Ranjith Senanayake, on a private plaint in MC Colombo Fort, Case No. 53466 in 2000. The four were acquited when the latter offered to withdraw the said case came up for submissions in the Provincial High Court No. 7 presided over by Chamath Morais last week.

These Appeals arise from the order of the Magistrate made on January 14, 2008 quashing the earlier order made on February 7, 2007 acquitting the Accused Directors from the said case. However, on an application made by the complainant Daya Ranjith Senanayake represented by Ranjit Abeysuriya PC to quash the said orders of acquittal as he could show cause against the said acquittal, the said acquittals were overturned and the case ordered to be continued.

In view of the withdrawal of the original criminal cases by the Complainant, the Directors agreed to withdraw the four Appeals filed in the PHC against the complainant without costs. The same were allowed.

C.V. Vivekanandan instructed be Pansy Joseph appeared for Complainant Senanayake. The Directors were represented by Romesh de Silva PC with Sugath Caldera instructed by G.G. Arulpragasam, Upali A. Gooneratne PC with Mahesh Wakishta and Ramitha Dissanayake and Weerasena Ranahewa.