Category: Featured Artcles
United States SEC v. Surage Kamal Roshan Perera and Janues Capital Incorporated
1. Introduction This report analyzes the legal case initiated by the U.S. Securities and Exchange Commission (SEC) against Surage Kamal Roshan Perera and his firm, Janues Capital Incorporated. The case, filed in the United States District Court for the Eastern District of New York, alleges fraudulent investment practices by the defendants, resulting in significant investor losses.…
Conviction under the Prevention of Money Laundering
Under the Prevention of Money Laundering Act, No. 5 of 2006 (as amended) in Sri Lanka, the prosecution must establish the following elements to secure a conviction for money laundering: The accused must have:• Converted or transferred property knowing or having reason to believe that such property is derived from an unlawful activity.• Concealed or…
Legal Analysis of the shareholder oppression and corporate mismanagement case against Harry Jayawardene in 2011
1. Introduction The Milford case is a legal dispute adjudicated in the Supreme Court of Sri Lanka, involving the shareholders and directors of Milford Exports (Ceylon) Ltd. The case primarily concerns allegations of corporate mismanagement, shareholder oppression, and procedural issues under the Companies Act No. 7 of 2007. This report comprehensively analyzes the case, its legal…
Wrongful termination of employment under TEWA
Case Details: Case Title: China Harbour Engineering Company (Lanka) Limited v. Commissioner General of Labour & OthersCase No.: C.A. (WRIT) 464/2021Court: Court of Appeal of Sri LankaJudges: Sobhitha Rajakaruna, J. & Dhammika Ganepola, J.Counsel: Malik Hannan for the Petitioner; Navodi de Zoysa, SC for 1st & 2nd RespondentsDecision Date: 19.01.2024 Background The Petitioner, China Harbour Engineering Company (Lanka) Limited, sought a…
Bill for Demutualization of the Colombo Stock Exchange (CSE)
The Demutualization of the Colombo Stock Exchange Act aims to convert the CSE from a company limited by guarantee into a company limited by shares. This transformation is designed to enhance governance, transparency, and operational efficiency. The following report provides an analysis of the Bill 405/2018 presented by the Prime Minister and Minister of National…
Legal Analysis of S.C. (CHC) Appeal No. 22/2010: Pramuka Savings and Development Bank vs. Habib Bank AG Zurich
Introduction This report examines the Supreme Court of Sri Lanka’s decision in S.C. (CHC) Appeal No. 22/2010, a pivotal case involving a dispute over financial transactions between Pramuka Savings and Development Bank Limited (Plaintiff-Appellant), later substituted by Sri Lanka Savings Bank Limited, and Habib Bank AG Zurich (Defendant-Respondent). The core issue pertained to whether the Defendant Bank had a…
Corporate Takeovers: Regulatory Frameworks, Challenges, and International Comparisons
Corporate phenomena such as takeover offers—exemplified by Hatton National Bank’s bid for control of the Commercial Bank of Ceylon and the contest between Vanik Incorporated Ltd and Asia Capital Ltd over Forbes Ceylon Ltd—highlight the importance of regulatory frameworks like the Company Takeovers and Mergers Code of Sri Lanka. This code, introduced by the Securities…
Terminating a Company’s Existence
The termination of a company’s existence is a structured and legally governed process aimed at ensuring fairness, transparency, and adherence to statutory obligations. This article delves into the various methods by which a company can cease to exist under the Companies Act No. 17 of 1982, detailing the processes of cancellation of registration, removal of…
Cancellation of the registration of Craig Estate Tea Factory
1. Case Background Petitioner: Maskeliya Plantations PLCRespondents: Sri Lanka Tea Board, Jayampathy Molligoda (Chairman), Anura Siriwardena (Director General), E.A.J.K. Edirisinghe (Tea Commissioner) Court of Appeal Case: CA (Writ) Application No. 337/2020 Court: Court of Appeal of the Democratic Socialist Republic of Sri LankaNature of Application: Writs of Certiorari and Prohibition under Article 140 of the Constitution…
Arbitration and Public Policy
Judicial Analysis of Supreme Court Appeal No. 155/2023: Arbitration and Public Policy Background of the Case: This case pertains to an appeal filed by the Respondent-Petitioner-Appellant, Ceylon Electricity Board (CEB), challenging an arbitral award dated October 29, 2013. The arbitral award was in favor of the Claimant-Respondent-Respondent, Heladhanavi Limited. The matter concerns a Power Purchase Agreement…
Labour dispute between Namunukula Plantations PLC and Commissioner General of Labour
Case Overview This Court of Appeal Case CA/WRT/0599/2021 involves Namunukula Plantations PLC (Petitioner) seeking relief through Writs of Certiorari and Prohibition under Article 140 of Sri Lanka’s Constitution. The primary contention arose from a labor dispute over salary increments for plantation employees, with the petitioner challenging the statutory obligations enforced by the Commissioner General of Labour (1st Respondent). Key Issues Court’s…
Tax dispute between Lion Brewery (Ceylon) PLC and the Director-General of Excise
Background This case pertains to a tax dispute between Lion Brewery (Ceylon) PLC and the Director-General of Excise, involving unpaid excise duties on beer for multiple financial quarters between 1998 and 2002. The central questions addressed the proper calculation of excise duties, whether complimentary beer should be taxed, and procedural issues under the Excise (Special…
Precedent for interpreting Section 337 of CPC and managing execution-related disputes
The Supreme Court’s decision resolves a long-standing property dispute, reaffirming the importance of judicial efficiency and fairness in execution proceedings. By prioritizing substantive justice over procedural technicalities, the Court upheld the plaintiff’s rights and highlighted the judiciary’s role in correcting errors and ensuring justice. This case serves as a precedent for interpreting Section 337 and…
Transparency and accountability in judicial appointments
Case Overview The petitioner, Bulugaha Pathirannehelage Sarith Maheeputhra Pathirathne, challenged the Constitutional Council’s decision not to approve the nomination of the President of the Court of Appeal for appointment as a Judge of the Supreme Court. The case alleged violations of fundamental rights under Article 12(1) of the Sri Lankan Constitution (equality before the law).…
Copyright law applicable to Online Legal information providers in Sri Lanka
The Intellectual Property Act No. 36 of 2003 of Sri Lanka provides comprehensive guidance on the protection of copyright and intellectual property. A critical exemption from copyright protection is outlined in Section 8(b), which states that “no protection shall be extended under this Part to any official text of a legislative, administrative, or legal nature, as well as…