Yuparaet Ayesha Salih vs. Chandana Ukwatta & McCallum Breweries (Ceylon) Limited – SC APPEAL 20/2012-2024

In the case between M. Razeen Salih (Plaintiff/Appellant) and Chandana Ukwatta (legal representative of the late Mr. U.K. Edmond) with McCallum Breweries (Ceylon) Limited (Defendants/Respondents), the court addressed whether the Defendants were liable to pay the balance sum of Rs. 1,999,200 under a contractual agreement for the sale of 27,508 shares in Ceylon Hotels Limited and the impact of the Exchange Control Act on the transaction. It was held that the Exchange Control Act’s requirements, specifically payment into a non-resident blocked account and the binding nature of decisions not appealed within the stipulated period, were applicable. The finality of administrative decisions under the Act was reaffirmed, and it was established that the Plaintiff’s failure to appeal within the presc