Commercial Bank of Ceylon PLC v Nawa Rajarata Appliances (Pvt) Ltd. – SC APPEAL NO.44/2016-2022

In the case between Nawa Rajarata Appliances (Pvt) Ltd. and its Managing Director, K.D.G.S. Wijeratne (plaintiffs) and Commercial Bank of Ceylon PLC (defendant), the court addressed the issue of whether the plaintiffs had accepted the rescheduled banking facilities by conduct despite not signing the offer letter, whether the grant of an interim injunction by the High Court restraining the sale of mortgaged properties was proper, and whether suppression of material facts by the plaintiffs affected their entitlement to such relief. It was determined that the plaintiffs’ conduct, including receipt and use of funds from the facility, indicated acceptance of the rescheduling, and the High Court’s reasoning based solely on the unsigned letter was insufficient. The holding set aside the interim i