Police said the businessman had imported 5 kilos of kush and 500 grams of cocaine through courier earlier this year.
Police investigations began after another person attempted to collect the parcel. The businessman, a major auto spare parts importer in Colombo 10, was subsequently arrested.
It was revealed that the suspect had been living in a rented house in Nawala earlier this year. After the PNB's seizure of the drugs, he relocated to another residence near School Lane, Nawala.
The suspect reportedly informed the police that he had paid Rs. 10 million for the car, with an outstanding balance yet to be paid.
Piyumi Hansamali is also under investigation by the Illegal Assets Investigations Division of the Criminal Investigation Department (CID) for the alleged suspicious acquisition of property.
DM