Yasodha Holdings (Private) Ltd. v. People’s Bank – sllr 1998 volume 3 page 382

In the case between Yasodha Holdings (Private) Ltd. and People’s Bank, the court addressed the issue of whether an interim injunction and enjoining order should be granted to restrain the Bank from transferring Yasodha Holdings’ loan facility into the non-performing category and from reporting the appellant to the Sri Lanka Credit Information Bureau. It was held that such injunctive relief was not justified, as the appellant had failed to establish a bona fide dispute with respect to the indebtedness and there was no evidence of irreparable harm. The principle reaffirmed was that an injunction is an extraordinary remedy only to be granted on clear and satisfactory grounds, requiring the establishment of a prima facie case and balance of convenience. Reliance was placed on the evidence pres