Prasannajit De Silva

His appointment as a President’s Counsel (PC)—the highest professional rank for a lawyer in Sri Lanka—was not merely a ceremonial honor. It was a recognition of his command over complex financial instruments and his ability to navigate the intersection of equity and statute. If there is a single role that defines Prasannajit de Silva in the public eye, it is his tenure as the Chairman of the Securities and Exchange Commission of Sri Lanka. Appointed in the aftermath of the country’s civil war, de Silva took the helm during a volatile period. The Colombo Stock Exchange (CSE) was emerging from a devastating bear market and needed structural reform to attract foreign direct investment.

As Sri Lanka navigates its economic recovery, the principles championed by Prasannajit de Silva—transparency, procedural fairness, and rigorous enforcement—remain more relevant than ever. He has built a legacy that will outlast any single case or commission: a legal infrastructure built to last. Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific legal inquiries regarding Mr. de Silva’s current practice, readers should contact the relevant legal chambers. prasannajit de silva

Legal scholars note that de Silva’s judgments (in his capacity as an arbitrator) and his legal opinions tend to favor ex post regulation—the idea that regulators must act swiftly after a breach to restore market confidence, rather than just drafting prospective rules. In a rare interview with the Bar Association Law Journal , Prasannajit de Silva articulated his core philosophy: "Commercial law is not a set of handcuffs; it is the lubrication for the engine of commerce. Without trust in the legal system, capital flees to jurisdictions with clearer rules." Appointed in the aftermath of the country’s civil

In the annals of Sri Lanka’s legal and financial history, few names command as much respect as Prasannajit de Silva , PC. While many lawyers gain fame for courtroom theatrics or political commentary, de Silva carved a unique legacy as the quiet, cerebral architect behind the island nation’s modern corporate regulatory framework. As a President’s Counsel, former Chairman of the Securities and Exchange Commission (SEC), and a titan of commercial litigation, Prasannajit de Silva represents the gold standard of legal excellence in South Asia. He has built a legacy that will outlast

This pragmatic, pro-business yet pro-integrity stance distinguished him from the populist regulators of his time. He argued against over-regulation of small-cap companies while advocating for zero tolerance for fraud in blue-chip firms. After stepping down from the SEC, Prasannajit de Silva returned to full-time practice as a President’s Counsel, leading the litigation department at one of Sri Lanka’s leading firms. He continues to serve as an independent director on several blue-chip companies and as a panel arbitrator for the London Court of International Arbitration (LCIA).

In a profession often accused of peddling influence, Prasannajit de Silva stands as a testament to the power of merit. He has proven that a lawyer can be both a fierce advocate in the courtroom and a wise regulator in the commission chamber. Prasannajit de Silva, PC, is not just a lawyer; he is an institutional memory for Sri Lankan capitalism. His work at the SEC shielded the stock market from the cronyism that plagued other emerging markets. His courtroom victories established legal precedents that protect commercial fairness. And his teaching has inspired a generation of attorneys to take commercial law seriously as a pillar of national development.