Gunawardane and Others v. Indian Overseas Bank – sllr 2001 volume 2 page 113

The case between Gunawardane and Others (as representatives of A. M. K. Agency) (Plaintiff-Respondents) and Indian Overseas Bank (Defendant-Appellants) addressed the issues of the existence of an overdraft facility and Trust Receipt transaction in the absence of a formal written request, the admissibility and probative value of certain documentary evidence, and the applicability of prescription with respect to the claimed debts. It was held that the contractual relationship and indebtedness were sufficiently established based on the available evidence, including acknowledgment letters and bank correspondence, notwithstanding the loss of original documents due to the 1983 Ethnic Riots. The court reaffirmed the principle that acknowledgment of indebtedness can extend or negate limitation def