Director Board walks away in objection to former SLIC Chairman

Director Board walks away in objection to former SLIC Chairman

28 July 2021 03:29 pm

A heated situation has reportedly occurred in the monthly meeting of the Board of Directors of Sri Lanka Insurance Corporation (SLIC) held yesterday (27) due to the attendance of its former Chairperson Jagath Wellawatte, who was recently ousted from the position due to alleged irregularities.

The Board of Directors has expressed their strong objection over the participation of Wellawatte, leading them to boycott the meeting. The two board members representing the Finance Ministry have emphasised that Wellawatte has no power to join boarding meeting as he is no longer the SLIC's Chairman.

The former SLIC Chief, however, has continued to sit in the meeting despite the strong objection from the rest of the board members. The board members, thereafter, have walked out of the meeting in objection to Wellawatte.

Upon Wellawatte's dismissal, former Chairman of Ceylon Electricity Board (CEB) Vijitha Herath was appointed as the SLIC Chairperson on July 19. Nevertheless, in the event that Wellawatte was not ready to give up his former position, Herath is forced lay out of duty.

Wellawatte was proposed to the post of Sri Lankan High Commissioner for Australia and he was schedued to leave for the country next month. Accordingly, his motive is to remain in his former SLIC position with being paid the July's paycheck, until depature. It is in this backdrop had Wellawatte joined the monthly Board Meeting.