16 March 2016 04:27 pm
Former CSN senior executive Nishantha Ranatunga, who was under the remand custody under Money Laundering Act, was released on bail today by Kaduwela Magistrate Dhammika Hemapala.
He was released on Rs. 100,000 cash bail and two sureties of Rs. one million each and the Magistrate imposed a travel ban on the suspect.
However, in the morning, accepting the revision bail application filed on behalf of Ranatunga, the Colombo High Court Judge M. C. B. S Morais did not grant Ranatunga bail, but directed the Kaduwela Magistrate to revise the remand orders and consider granting bail after taking into consideration only the Bail Act.
The revision application sought bail for the suspect over the inquiry conducted at the Kaduwela Magistrate on alleged financial irregularities at the Carlton Sports Network (CSN).
The High Court Judge also affirmed that the remand orders given by the Kaduwela Magistrate on January 30 and February 11 could not be considered under the Public Property Act.
However, the Colombo High Court on Monday released Yoshitha Rajapaksa and three other CSN directors on a bail of Rs.100, 000 with two sureties of Rs.1 million each.
Counsel Nalin Ladduwahetti PC appeared for Nishantha Ranathunga.
Five individuals including Yoshitha Rajapaksa, Nishantha Ranatunga, Rohan Welivita, Ravinath Fernando and Kaushal Dissanayake were arrested and remanded for alleged money laundering by the Financial Crimes Investigations Division (FCID). (Shehan Chamika Silva)
Video by Buddhi