Business couple bailed in Rs. 43 m cheque fraud case

Monday, 8 September 2025 04:52 - - {{hitsCtrl.values.hits}}

By T. Farook Thajudeen

A business couple who allegedly defrauded another businessman for the tune of Rs. 43 million were granted personal bail by the Fort Magistrate.

Colombo Fort Magistrate Nilupuli Lankapura granted bail of Rs. 50, 000 on each of the suspects, with two sureties, to Naresh Parsaram Butani and his wife Meena Butani of De Fonseka Road, Colombo 5, in a case in which the couple were alleged to have defrauded around Rs. 43 million from a Negombo businessman named H. Robinson Sathasivam of Daluwakotuwa, Kochchikade, following their pleading of not guilty to the charges levied against the couple.

The suspects were charged by the Officer in Charge (OIC) of the Financial and Commercial Crime branch of the Criminal Investigation Department (CID).

The couple were alleged to have deliberately issued cheques to the complainant amounting to Rs. 13.2 million while there was no funds in the accounts of the suspects’ bank at Colpetty.

During the inquiry before the Magistrate, it was submitted to the Magistrate that the Police had sought the opinion of the Attorney General and, on his direction, the case was filed against the two suspects.

According to the complaint, the suspects had allegedly issued cheques for a sum of Rs. 13.2 million to another businessman, thereby defrauding the complainant businessman from around Rs. 43 million.

The suspects have been charged under the Recovery of Loans by Banks (Special Provisions) Act for defrauding a total of Rs. 43.2 million as calculated based on the loan agreement.

Counsel Prasanna Weerakoon appeared for the suspects. The case was put off for 29 October.