Court orders seizure of Cecille’s Rs. 259 mn to pay GK depositors

Court orders seizure of Cecille’s Rs. 259 mn to pay GK depositors

sisiliaby Chitra Weerarathne- The Island

The Supreme Court yesterday ordered the State to seize forthwith Rs. 259 million, credited to the Bank Accounts of Mrs. Cecille Kotelawala and transfer the money to the ‘Dedicated Account’, to pay the aggrieved depositors of the Golden Key Credit Card Pvt. Limited. The Court also ordered the State to implement the ‘Comprehensive Payment Plan’ forthwith.

The depositors who have invested upto one million rupees are to be repaid 75 per cent of their money within three months; those who have deposited upto two million are to be paid within six months and those who have deposited over two million are to be paid within one year.

Attorney General Mohan Peiris, PC, appeared for the State. The rights violation application complained that the GK credit Card Company had failed to repay the money deposited by the petitioners. The total amount deposited by the aggrieved depositor amounted to Rs. 26 billion, according to the petition.

Romesh de Silva PC, appeared for Lalith and Cecille Kotelawala, respondents in the petition and proprietor of the GK Pvt. Limited. The Bench comprised Justice Shirani Tilakawardene, Justice K. Sripavan and Justice Saleem Marsoof. The issue is to be mentioned again on October 23, 2009.

/ English

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