Dehigaspe Patabendige Nishantha Nanayakkara vs Ceylon MKN Eco Power (Pvt) Ltd. – SC/CHC/APPEAL/26/2003-2024

The case between Dehigaspe Patabendige Nishantha Nanayakkara and Ceylon MKN Eco Power (Pvt) Ltd. involved allegations concerning oppressive conduct and mismanagement in connection with the development of a hydro power project. The dispute centered on claims of breaches of fiduciary duty, conflicts of interest linked to business decisions, and enforcement issues regarding a shareholders’ agreement. It was determined that the petitioner’s actions, including his removal from a directorial position and involvement in a rival enterprise, did not legally constitute oppression or mismanagement. The ruling reaffirmed the principle of deferring to the business judgments of majority shareholders and relied on relevant statutory provisions and case law to dismiss the appeal with costs, while declarin