Jafferjee and Jafferjee (Pvt.) Ltd. v. Credit Information Bureau of Sri Lanka – sllr 2002 volume 3 page 348

In the case between JAFFERJEE & JAFFERJEE (PVT) LTD. and the CREDIT INFORMATION BUREAU OF SRI LANKA, the Court addressed whether, under the amended Credit Information Bureau of Sri Lanka Act, No. 18 of 1990 (as amended by Act No. 8 of 1995), the respondent is required to inform a borrower or prospective borrower that credit information has been provided to lending institutions which are shareholders of the Bureau. It was held that the Act mandates simultaneous disclosure of credit information to both lending institutions and borrowers or prospective borrowers. The holding reaffirms the principle that borrowers must be granted prompt notice and an opportunity to rectify inaccuracies in credit information. This determination relied upon statutory interpretation of the legislative amendments,