K.A.S. Auto International (Pvt) Ltd and Another vs. Sampath Bank PLC and Others – sllr 2020 volume 2 page 112

In the case between K.A.S. Auto International (Pvt) Ltd and Another (petitioners) and Sampath Bank PLC and Others (respondents), the court examined whether the petitioners could challenge the Sampath Bank’s Board resolution to recover dues by parate execution under the Recovery of Loans by Banks Act. It was held that the existence of disputed material facts regarding the loan facilities, alleged defaults, and the nature of the mortgage documentation precluded issuance of relief by way of writ. The proceedings underscored that an adult signatory is generally bound by the contents of documents personally signed, unless specific exceptions apply, and discussed the legal effects of novation in contract law. Reference was made to the petitioners’ ongoing actions in other judicial forums to reso