The Colombo Commercial High Court yesterday ordered a private commercial bank to present its facts before court on November 14 regarding the auction of 24 perches of land in Pitakotte belonging to the former Western Province Governor Azath Salley.
Colombo Commercial High Court Judge Sumith Perera issued this order when a case filed by former Western Province Governor Azath Salley seeking an order to suspend the auction of his property against a private commercial bank was taken up before the Court yesterday.
Counsel appearing for the respective private bank informed the court that if Azath Salley repays the loan amount obtained by mortgaging that relevant land, the property auction can be suspended, otherwise the bank has the legal right to auction the land.
The respective private bank had published newspaper advertisements that the mortgaged property will be auctioned to recover the loan premium of the credit facility of nearly Rs. 58 million granted to Former Western Province Governor Azath Salley by mortgaging his land in Pitakotte.
A Counsel who appeared for the relevant Bank also informed that if the plaintiff Salley agrees to pay a certain percentage of the loan, a settlement can be reached regarding the auction of the property.
After considering the facts presented by both parties, the Commercial High Court Judge ordered that if the both parties come to any agreement or settlement regarding the auction of the property, the court will report on it on November 14. The case will be taken up again on that day.
by dailynews sri lanka
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