Former Chairman of Ceylinco Lalith Kotelawala passes away

Renowned businessman and former Chairman of Ceylinco Consolidated, Lalith Kotelawala, has passed away while receiving medical treatment at a private hospital in Colombo. 

Lalith Kotelawala, a prominent Sri Lankan businessman known for his role as the chairman of Ceylinco Consolidated and as the founding chairman of Seylan Bank, has passed away at the age of 85. Kotelawala was a notable figure in the Sri Lankan business landscape. His legacy is marked by both his business acumen and his role as a peace advocate during Sri Lanka's tumultuous times.

Early Life and Education
Lalith Kotelawala was born to Senator Justin Kotelawala, a prominent Ceylonese politician and businessman, and Millicent Kotelawala, the daughter of Sir Arthur Marcelles de Silva, a leading surgeon. He received his education at Royal College, Colombo, and pursued chartered accountancy in the UK. His family lineage includes Sir John Kotelawala, who served as the third Prime Minister of Ceylon.

Career Highlights
In the 1960s, Lalith Kotelawala took the reins of Ceylinco Consolidated from his father and proceeded to expand the group into various sectors, including banking, non-banking finance, investment banking, housing and property development, travel and leisure, communication & information technology, education, healthcare, and microfinance. Beyond his business endeavors, Kotelawala also initiated a peace campaign in Sri Lanka. His commitment to peace was amplified after surviving an attack by the Liberation Tigers of Tamil Eelam (LTTE) in 1996.

Lalith Kotelawala faced a tumultuous chapter in his career, notably being remanded in connection with the misappropriation of the failed Golden Key Credit Company. This incident was a significant legal and financial challenge in his life, with implications for the Sri Lankan financial sector.

While his legacy is marked by both his business achievements and this legal episode, his impact on the Sri Lankan business landscape is undeniable. Despite the legal challenges he faced, his contributions to various industries and his peace advocacy are aspects of his life that are remembered as well.