Mackwoods and Directors emerge victorious against Nirmali Samaratunga in Court

Monday, 21 November 2016 00:15 - - {{hitsCtrl.values.hits}}

Justice A. L. Shiran Gunarathne of the Commercial High Court of Colombo yesterday dismissed the case bearing number 35/2016/CO filed by Nirmali Samaratunga regarding the sale of shares in Agalawatte Plantations PLC(APL) by Mackwoods Plantations Ltd.

The case was filed against, among others, Mackwoods Ltd., Mackwoods Plantations Ltd., and its Directors including Dr. Chris Nonis and Shelendra Nonis.

The sale of such shares took place in the midst of a bitter dispute between family members who are shareholders of Mackwoods for control of Mackwoods Securities Ltd.

With the said sale of shares in APL, APL stood removed from the Mackwoods Group of Companies.

The said Nirmali Samaratunga filing a petition in the Commercial High Court of Colombo sought to have the sale of shares annulled on the grounds, among others, that the sale of the shares was against the interests of Mackwoods Plantations Ltd., and its shareholders.

A preliminary objection was raised by certain Respondents including the said Mackwoods Ltd. (1st Respondents), Mackwoods Plantations Ltd. (2nd Respondent), APL (3rd Respondent) and Directors including Dr. Chris Nonis and Shelendra Nonis on the ground that the Petitioner has sought to join two complete different and unique statutory remedies set out in the Companies Act No. 07 of 2007 together in one action.

Justice A. L. Shiran Gunarathne of the Commercial High Court of Colombo by order dated 18 November upheld the said preliminary objection raised by the said Respondents and dismissed the case filed by Nirmali Samaratunga in limine.

In dismissing the said case, Justice A. L. Shiran Gunarathne specifically observed the unique and distinctive nature of the two statutory remedies as raised by the 1st Respondent, Mackwoods Ltd., in its written submissions.

Avindra Rodrigo, AAL with Shanaka Gunasekara, AAL and Rozali Fernando, AAL appeared for the 1st and 7th Respondents. K Kang-Isvaran, PC with Lakshmanan Jayakuamr, AAL and Dilumi de Alwis, AAL appeared for the 2nd Respondent, Nihal Fernando, PC appeared for 13th and 14th Respondents and Chandaka Jasundara, AAL appeared for the 3rd Respondent. Romesh de Silva, PC appeared for the Petitioner.