M. Razeen Salih vs I. Chandra Ukwatta & MacCallum Breweries (Ceylon) Ltd. – CA 1135/93 F -2011

In the case between M. Razeen Salih (Plaintiff-Appellant) and I. Chandra Ukwatta (as legal representative of U.K. Edmund) and MacCallum Breweries (Ceylon) Ltd. (Defendants-Respondents), the court addressed the enforceability of a claim for the balance purchase price in the sale of shares in Ceylon Hotels Limited in excess of the amount approved by the Controller of Exchange. It was held that the Plaintiff-Appellant was not entitled to recover the claimed balance, reaffirming the principle that contractual performance must align with statutory requirements under the Exchange Control Act and parties are precluded from relying on estoppel to circumvent statutory illegality. The reasoning relied on the Exchange Control Act and principles of illegality and finality, emphasizing the binding effe