Yasasiri Kasturiarachchi vs Peoples’ Bank – SC APPEAL NO: 127/2014-2021

In the case between Yasasiri Kasturiarachchi (and Yasodha Holdings) and Peoples’ Bank, the Court addressed the legal validity and enforceability of the 10.07.1997 resolution to sell mortgaged land under public auction and whether the appellant was entitled to further relief despite previous unsuccessful litigation. It was determined that the appellant was precluded from pursuing additional remedies following definitive adjudication at the High Court and Court of Appeal, affirming that the principle barring re-litigation of conclusively settled matters applied. Established legal precedents clarified the legal interpretation of “third party mortgage” provisions, and it was held that the Certificate of Sale validly transferred title. The Court reaffirmed the enforceability of statutory proces