S.A.S.Karunawathie Perera v. People’s Bank et al. – 613/2007-2011

In the case between S.A.S. Karunawathie Perera (Petitioner) and People’s Bank, W. Karunajeewa (Chairman, People’s Bank), Sarojini Gabadage (Inquiring Officer), S.N.K.Kamala Guruge, P.G.J. Sithy Sawahir, M.G.M.G.M. Mohamed Hanafie, and the Public Trustee (Respondents), the court addressed the issue of the legality of People’s Bank’s decision to acquire immovable property under Section 71(4) of the Finance Act No. 11 of 1963 (as amended), the right of a subsequent transferee to challenge such acquisition, the eligibility of a descendant of the original owner to seek redemption, and the exception based on residential necessity. It was held that the conveyance to the petitioner was subject to the statutory encumbrance created by the Finance Act due to a registered notice, the eligibility deter