Perpetual Treasuries (Private) Limited and others Vs. Central Bank of Sri Lanka and others – WRIT APPLICATION 35/2017-2017

In the case between Perpetual Treasuries (Private) Limited and Central Bank of Sri Lanka, the court addressed the issue of the legal viability of petitioners seeking a Writ of Certiorari and restraining orders against a Directive issued by the Central Bank. It was determined that, due to the lack of legal existence of the principal petitioner following a name change and insufficient supporting documentation, the application was not legally maintainable. The underlying principle reaffirmed was that legal proceedings require the existence of a competent party before the court. The decision relied on established procedural legal standards, emphasizing that lack of standing or legal entity status precludes substantive consideration and warrants dismissal with costs, without conferring recognit