Shaw Wallace and Hedges Ltd V Nirmal Fernando and Others – sllr 2003 volume 2 page 366

In the case between Shaw Wallace and Hedges Ltd and Nirmal Fernando and Others (in relation to the winding‑up proceedings of Bonaventure Textiles (Lanka) Limited), the court addressed whether an ex parte decree obtained by the petitioner constituted a final, executable judgment under the Civil Procedure Code and if such status rendered the petitioner a judgment creditor for purposes of the Companies Act. The findings established that an ex parte decree remains provisional until crystallized by law, and as such, the holder of redeemable preference shares with merely an ex parte decree is not a judgment creditor in winding-up proceedings. This determination was based on the interpretation of the Civil Procedure Code and the Companies Act, underscoring the requirement that a decree must be fi