Araliya Impex (Private) Limited vs Bank of Ceylon – 55/2006-2013

In the case between Bank of Ceylon and Araliya Impex (Private) Limited, Mylvaganam Rajkumar, and Liyanage Mahesh Paul De Silva, the court addressed issues concerning the evidentiary sufficiency of loan amounts claimed, the nature and capacity in which guarantee bonds were signed, the validity and terms of the imposed 26% interest rate, and the jurisdiction of the Commercial High Court. It was held that the guarantee bond was executed in a personal capacity by the 2nd and 3rd Appellants, the interest rate was duly established by the submitted documents and correspondence, and the jurisdiction of the Commercial High Court was properly invoked. The decision reaffirmed the principle that parties must closely scrutinize and understand documents they sign, particularly in commercial transactions