Cornel Perera v. Suren Wickremasinghe and Others – sllr 1999 volume 3 page 062

In Cornel Perera v. Suren Wickremasinghe and others, the court addressed the validity of the 1st defendant’s appointment as Managing Director under Article 120 of the Articles of Association, in light of a prior preliminary agreement favoring the plaintiff. The central issue concerned whether an interim injunction should be granted to restrain the defendants from interfering with the plaintiff’s rights, considering claims of procedural irregularity and substantive company law principles. It was determined that Article 120 permits the board to appoint or remove a Managing Director at its discretion and does not guarantee a life appointment. The requirements for interim injunctive relief—namely the establishment of a prima facie case, risk of irreparable injury, and a favorable balance of co