Arunesh Seelanathakuruppu vs Bartleet Asset Management (Pvt) Ltd. and others – SC CHC Appeal 02/2017 -2025

This case involves an appeal by Arunesh Seelanathakuruppu (Appellant) against Bartleet Asset Management (Pvt) Ltd. (1st Respondent) and Bartleet Religare Securities (Pvt) Ltd. (2nd Respondent). The Appellant, a businessman, entrusted Rs. 15 million to the 1st Respondent for fund management under a Fund Management Agreement (P4), with the 2nd Respondent acting as the stockbroker. The Appellant claimed losses of Rs. 6,200,870 due to alleged breach of contract, wrongful delegation, negligence, fraudulent misrepresentation, and unjust enrichment by the Respondents. The Commercial High Court dismissed the action, finding the Appellant failed to prove his cause of action. The Supreme Court affirmed the Commercial High Court’s judgment, ruling that the agreement did not guarantee a minimum return