Sakvithi & wife pay another installment of Rs.5mn



Popular English tutor Sakvithi Ranasinghe and his wife yesterday settled the second installment of Rs.5 million in the Colombo High Court after pleading guilty to the charges filed against them.

The amount was paid following a court order over the case filed against the two suspects for allegedly running an illegal financial institution without the approval of the Central Bank of Sri Lanka and accepting deposits over Rs.164 million from the people.

At a previous occasion, Ranasinghe and his wife pleaded guilty to the charges and agreed to pay the obtained amount in 20 equal installments. They settled the first installment on that day.

The Attorney General filed a revised charge sheet against the defendants for misappropriating an amount of 164,185,000 invested as deposits in a company called “Sakvithi Construction Company” in Nugegoda from January 01, 2006 to September 03, 2008.

When the case was taken up, Ranasinghe and wife were present in court.

The Attorney General had filed an indictment against Sakvithi Ranasinghe, his wife and eleven Board directors of Sakvithi House Construction Financial Institution. However, the Attorney General had previously decided to release the rest of the accused except Ranasinghe and wife from the case.

The next installment is to be paid on September 22. The Judge ordered the case to be taken up again on the same day.

Attorney-at-law Gamini Alwis appeared for the defendants along with Attorney-at-law Ravindra Senarath.


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