The bail application of Cecille Kothelawala, wife of former Chairman of Ceylinco Consolidated, Lalith Kotelawala, was rejected by the Colombo High Court on February 23.

It is also reported that Colombo High Court Judge Manilal Waidyatilleka had further remanded the sixth accused, a Director of the Golden Key Credit Card Company.

Bail was rejected on the grounds that the accused, a major shareholder of the Company, had been evading the law since 2009, when the Mount Lavinia Magistrate had issued an open warrant for her arrest.

Previously, she was arrested by the officials of the Department of Immigration and Emigration on February 04 2016.

Lalith Kothelawala was remanded for the misappropriation of investments worth over Rs 26 billion from the failed Golden Key Credit Card Company, part of the Ceylinco Group of Companies, which defrauded deposits made by the public.

The case will next be taken up on April 27.