Dayarathne v. State Mortgage And Investment Bank – sllr 2005 volume 3 page 138

In the case between Dayarathne (Plaintiff) and the State Mortgage and Investment Bank (Defendant), the court addressed the issue of whether, under Sections 16 and 17 of the Stamp Duty Act, the recovery by the bank in respect of a mortgage bond stamped for Rs. 600,000 could include amounts beyond the principal sum, particularly concerning the recovery of interest. It was held that while stamp duty is strictly applicable only to the principal amount endorsed on the mortgage bond, the Act does not prevent recovery of interest accruing thereon. The application for a writ of certiorari/mandamus was dismissed, with costs determined at Rs. 10,000. This holding reaffirmed the principle that statutory requirements regarding stamp duty are limited to the principal sum, and recovery of interest remai