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COLOMBO (News 1st); Colombo Chief Magistrate Tanuja Lakmali has ordered to release on bail Harshan de Silva, the former Chairman of the Land Reclamation and Development Corporation, who was taken into custody.
De Silva was arrested by officers of the Commission to Investigate Allegations of Bribery or Corruption.
The charges against him relate to the alleged misuse of funds allocated for a flood control project in Colombo in 2014.
It is claimed that he spent Rs 27.6 million on ceremonial activities without following proper procurement procedures, causing a significant financial loss to the government.
The Magistrate granted bail to the suspect on five sureties of one million rupees each and imposed a travel ban on him.
The case is scheduled to be called again on June 24.