Supreme Court Upholds Commercial High Court Judgment in Favor of People’s Bank Against Yashodha Holdings in Rs.120 Million Loan Dispute

December 05, 2023

HC (Civil) 90/99 (1) was filed on 02.08.1999 in the Commercial High Court of the Western Province holden in Colombo against Yashodha Holdings (Pvt) Limited by the People’s Bank to recover the outstanding of a Short Term Loan facility of sum of Rs.120,000,000/-.

The Commercial High Court delivered its judgment in favor of the Bank and the Yashodha Holdings (Pvt) Ltd appealed against the said Judgment to the Supreme Court under Case No. SC(CHC) Appeal No.01/2018 which was dismissed by the Supreme Court on 04.12.2023 with cost, confirming the Judgment of the said Commercial High Court.

Mr. S.A. Parathalingam, President’s Counsel, with Mr. Kushan D’ Alwis, President’s Counsel and Mr. Hiran Jayasuriya, Attorney-at-Law appeared for the People’s Bank.