Pan Asia Banking Corporation PLC vs. N. S. Gunaratne & Company (Pvt) Ltd. – SC CHC APPEAL NO 74/2013-2023

In the case between Pan Asia Banking Corporation PLC (“the Bank”) and N. S. Gunaratne & Company (Pvt) Ltd., Udawattage Don Nalin Srilal Gunaratne, and Roshanie Ayoma Gunaratne (“the Defendants”), the Court addressed the enforceability of a term loan facility and the sufficiency of documentary evidence for establishing liability. It was held that the crediting of Rs. 5,687,000.00 to the 1st Defendant’s account, corroborated by loan documents, account statements, and repayment records, conclusively established the Defendants’ liability under the facility. The principle reaffirmed was that documentary and transaction evidence from a recognized financial institution suffices to establish the existence and execution of a loan unless expressly disproved. This outcome relied on the evaluation of