Saffany Chandrasekera vs Indian Overseas Bank – SC APPEAL NO: 48/2021-2024
The case between Indian Overseas Bank and Saffany Chandrasekera/Nalini Natasha Chandrasekera, carrying on business as Cambridge Traders, addressed the issue of whether additional security under the Debt Recovery (Special Provisions) Act was mandatory despite an existing mortgage bond. The court determined that the statutory framework requires additional security when the evidence presented by the defendants does not suffice to establish a prima facie defence, thereby emphasizing the need for written evidence in debt recovery. The decision relied on the interpretation of Sections 2, 4, and 6 of the Act and relevant judicial precedents, reinforcing the principle that procedural requirements inherent in written evidence must be satisfied.
Arjuna Obeyesekere, J. — The opinion provided a
