Development Finance Corporation (D.F.C.C. Bank Ltd) v. Somaweera – sllr 2003 volume 3 page 128

In Somaweera v. DEVELOPMENT FINANCE CORPORATION (D.F.C.C. Bank Ltd), the court addressed whether the Bank, under the Recovery of Loans by Banks (Special Provisions) Act, No. 4 of 1990 and the DFCC Act, possessed the statutory authority to extend loans to a business engaged in selling fast foods and operating a restaurant, and if actions taken on mortgage bonds met legal requirements. It was determined that the statutory term “commercial enterprise” within the DFCC Act should be construed broadly, and that the plaintiff’s business fell within its scope. The interim injunction issued by the District Judge was found to be based on erroneous statutory interpretation. The appeal was allowed, the injunction set aside, and costs awarded to the Bank, reaffirming the principle that inclusive statut