Premasiri and Priyanga vs National Development Bank PLC et al. – CA WRIT/0023/23-2023

In the case between Vithan Harischandralage Premasiri and Vithan Harischandralage Sampath Priyanga (Petitioners) and National Development Bank PLC, Thrivanka & Senanayake Auctioneers, H. S. K. J. Bandara, and others (Respondents), the court addressed whether a prima facie case existed to quash the Bank’s resolution to auction the petitioners’ property under the Recovery of Loans by Banks (Special Provisions) Act No.4 of 1990 and the Land Development Ordinance. It was held that the Bank’s decision did not contravene Cabinet decisions or the Land Development Ordinance since the statutory language and legislative intent aimed to bind property owners rather than restrict actions by commercial banks. The court reaffirmed that contractual obligations and express assumptions of risk by the petiti