Sri Lanka Co-operative Marketing Federation Ltd. v. The State Trading Corporation of India – SC CHC. APPEAL 02/11-2012

In the case between State Trading Corporation of India and Sri Lanka Co-operative Marketing Federation Ltd., the court addressed whether the relevant commercial transaction constituted a written contract or a sale of goods under the Prescription Ordinance and Limitation Act, and assessed the appropriate standards for granting a writ pending appeal, including the quantum of security. It was held that the transaction did not present extraordinary grounds to disturb the Commercial High Court’s decision, and that ordinary loss was insufficient to justify relief under Section 763 of the Civil Procedure Code. The court reaffirmed the principle that mere assertions of ordinary losses do not warrant modification of security orders pending appeal, emphasizing established law concerning prescription