Asian Finance Ltd vs. Wasantha Kumara Galagoda – SC APPEAL 43/2021-2024

In the case between Asian Finance Ltd (Party A) and various respondents including Wasantha Kumara Galagoda, Liyana Thanthri Gamage Dammika Dharshana, H. Hiranagama/H.A.M. Nanayakkara, the Commissioner General of Labour, the Monetary Board of the Central Bank, and the Attorney General (Party B), the court addressed the issue of whether Asian Finance Ltd was legally required to comply with directives issued by the Monetary Board and the Labour Department concerning salary caps for directors and employees. It was held that the petitioner was bound by such directives, and acts by the Commissioner of Labour and Monetary Board regarding salary reductions were within statutory authority. The findings reaffirmed the principle that statutory directives issued for the purpose of safeguarding liquidi