Relief granted to plaintiff company

Sarath Malalasekera

Western Province High Court Judge E.A.G.R. Amarasekera has granted relief to the Plaintiff Company for the recovery of the sum of US $ 585,151 with interest thereon at 12 percent per annum from December 31, 2002 till payment in full converted to Sri Lankan Rupees at the exchange rate prevalent at the point of payment.

The Court also granted the cost of the case and stated that action need not be dismissed.

The Plaintiff Osni Lanka Company (Private) Limited cited Rystar Communication Limited, Canada, Chalmway Proprietary Limited, Australia, Ruhunu 2001 Multivision (Private) Limited, Colombo 5 and The Registrar of Companies, Colombo 10 as Defendants. The Judgement also stated that this action has been filed by the plaintiff to get his rights which it claims under the agreement titled “Convertible Secured Promissory Notes” and the collateral security instruments titled “Security Pledge Agreements.”

After the filing of answers by the defendants on March 20, 2007 parties have settled their admissions and issues. Plaintiff has led the evidence of one of its directors named Nirange Indrajith Hettiarachchi. On November 25, 2008, plaintiff has closed its case leading in evidence the documents marked as P1 to P56. As no objection was reiterated at the closure of plaintiff’s case, these documents can be treated as evidence for the all purposes of this case.

On that date Counsel for the first defendant has said that he has no instructions from his client. Though date has been given to call the witnesses of the other defendants, they too have defaulted in appearing and proceeding with their case.

Therefore, this Court decided to deliver judgement on the evidence already led before my predecessor, the judgement added. President’s Counsel Romesh de Silva with Attorneys Nihal Jayawardena, Uditha Egalahewa and Lasantha Hettiarachchi instructed by Mahinda Wickremeratne appeared for Osni Lanka Private Limited. Avindra Rodrigo and Manoj Bandara instructed by F.J. & G. de Saram appeared for Chalmway and Multivision. Attorney Buddhika Illangathilake instructed by B.W. Kularatne Associates appeared for Rystar.