Handuwala Devage Simon Fernando vs Ranepura Devage Hector Jayasiri – SC APPEAL NO.134/14-2020

In the case between Handuwala Devage Sisira Munasinghe and Handuwala Devage Simon Fernando/Munasinghe (Applicants), and Ranepura Devage Hector Jayasiri, along with the Chairman and Members of the Debt Conciliation Board (Respondents), the Supreme Court addressed whether Section 19A(1A) of the Debt Conciliation (Amendment) Act No. 29 of 1999 applies retrospectively to debts secured by transfers executed before 17th September 1999. It was determined that the statutory amendment could not be applied retrospectively to transactions predating its certification, thereby restricting the jurisdiction of the Board to cases where the deed of transfer was executed after the operative date. The court underscored that the applicability of legislative amendments is generally prospective unless expressly