Global Lifestyle Lanka (Pvt) Ltd. v. The Monetary Board of the Central Bank of Sri Lanka – CA WRIT/121/2017-2017

In the case between Global Lifestyle Lanka (Pvt) Ltd. (Plaintiff) and the Monetary Board of the Central Bank of Sri Lanka (Defendant), the main issue considered was whether a writ application challenging a principal order (P3) issued by the Respondent in 2012 was maintainable when it was filed after a delay of nearly five years, and whether the application disclosed sufficient grounds to proceed. It was held that no effective or consequential action under the Banking Act had resulted from the order and that no actual suspension of business had occurred. Therefore, it was determined that the application did not meet the necessary threshold for judicial review, which requires a prima facie impact on rights or interests. The petition was dismissed, but the Petitioner was granted liberty to se