People’s Bank vs Rosy Jayasuriya – SC APPEAL 156/2010-2014

In the case between The People’s Bank and respondents including Rosy Jayasuriya, A.R. Kodituwakku of Layland Florists, and Ekman Dalugoda, the Supreme Court addressed the interpretation and enforcement of eviction orders under section 72 of the Finance Act. The proceedings concerned whether the vesting order, as issued by Gazette notification in favor of The People’s Bank, lawfully extinguished all encumbrances—including tenancy rights—held by the respondents, and whether actions taken under such order affected tenancy rights in contravention of the Act or prior agreements. The Court determined that the plain language of section 72 of the Finance Act mandates the vesting of property with the Bank, cleared of all encumbrances, thus supporting the enforcement of eviction against the occupyin