"It's baffling for all of us to accept how Sri Lanka Cricket would have been bankrupt in six months. It is not unusual for Sri Lanka Cricket to incur a loss during a particular period and come up with a surplus in another year," he said at a press conference here.
"We are very hurt and disappointed the way the honorable minister has acted. He has not given us a fair hearing before taking this decision," he said.
The board's finances was not strong because Sri Lanka had few matches during the year which could have boosted its coffers," he added.
He said that he will seek an opportunity to explain his position to Kumaratunga.
De Silva also defended sending former president Thilanga Sumathipala to international meetings saying he was elected by the board as its representative and this was explained to the minister.
The administration of Sri Lanka Cricket was taken over Friday by a committee appointed by the sports ministry, which said the board had misappropriated funds resulting to the tune of loss of Rs 329 million ($3.3 million; 2.55 million) at the end of 2004.