Police suspect that the Bambalapitiya businessman was murdered before the demand for a ransom was made.
Mawanella police responsible for the investigation stated the body of the victim had already begun decomposing when it was recovered last night.
The inquiry into the murder was conducted by Mawanella Magistrate Mahinda Liyanagama this morning.
The post mortem was conducted by the Judicial Medical Officer of Kegalle Teaching hospital Dr. Ramesh Alagiyawanna.
Colombo Crime Division and Kegalle Police Special Operation Unit have initiated a joint investigation looking into the incident.