Araliya Impex (Pvt) Ltd. and Others vs Bank of Ceylon – sllr 2013 volume 2 page 012

In the case between ARALIYA IMPEX (PVT) LTD. AND OTHERS and BANK OF CEYLON, the court addressed the issues of whether adequate evidence supported the amounts claimed by the Respondent Bank, whether the personal guarantees obtained from company directors were valid, and whether the Commercial High Court possessed proper jurisdiction under the relevant legislative provisions. It was determined that the evidence substantiated the sums claimed and that the guarantees signed by the 2nd and 3rd Defendants were executed in their personal capacity. The interest rate applied by the Respondent was found to be consistent with prevailing market practice, and jurisdiction was properly vested in the Commercial High Court according to statutory requirements. The appeal was dismissed, costs imposed, and t