Peoples Bank v. Hewawasam – sllr 2000 volume 2 page 029

In the case between Hewawasam (Plaintiff-Respondent) and People’s Bank (Defendant-Petitioner), the court examined the effect of a typographical error on the execution date of a mortgage bond and the validity of the Bank’s resolution to sell the mortgaged property by public auction. It was held that a notarial error in the date does not, by itself, invalidate the mortgage bond, given statutory protections under relevant laws. The challenge to the Bank’s resolution of sale was found untenable in light of Section 29(D) of the People’s Bank Act, which shields such resolutions from judicial review. The interim injunction restraining the Bank from selling the mortgaged property was therefore set aside, and the revision application was allowed with costs. The decision reaffirmed the legal princip