Notes to the Consolidated Financial Statements - Seylan Bank
Notes to the Consolidated Financial Statements - Seylan Bank
Notes to the Consolidated Financial Statements - Seylan Bank
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North Bound > <strong>Seylan</strong> <strong>Bank</strong> Annual Report 2011<br />
337<br />
2. In addition <strong>to</strong> <strong>the</strong> above <strong>the</strong> following civil cases are pending against <strong>the</strong> <strong>Bank</strong>.<br />
Case<br />
CHC 638/09/MR<br />
(DC Colombo 6033/SPL)<br />
DC Colombo 04768/09DMR<br />
36780/MR<br />
DC Negombo 2798/P<br />
DC Matara 20512/P<br />
DC Colombo DMR 09088/10<br />
DC Horana 1792/P<br />
HC (Civil) 379/2011/MR<br />
CHC 157/2009/MR<br />
SC (APP) 85A/2009<br />
DC Kalutara 6070/P<br />
HC (Civil) 166/05 (1)<br />
Nature/Description<br />
Counter claim made by <strong>the</strong> defendant for <strong>the</strong> case filed by <strong>the</strong> <strong>Bank</strong>.<br />
Claiming damages Rs. 10.0 Mn. from <strong>the</strong> <strong>Bank</strong> for negligence<br />
prosecution and wrongful act. Transferred <strong>to</strong> Commercial High Court<br />
and CHC 744/2010/MR .<br />
Against <strong>the</strong> fraudulent withdrawal of Rs. 280,000/- made by <strong>the</strong> 3rd party.<br />
Claiming <strong>the</strong> title of <strong>the</strong> mortgaged property by a third party.<br />
Claiming <strong>the</strong> title of <strong>the</strong> mortgaged property by a third party.<br />
Accusing <strong>the</strong> <strong>Bank</strong> for negligence resulting a cheque fraud<br />
(claim Rs 5.0 Mn.).<br />
Obtain a partition decree against <strong>the</strong> mortgaged property.<br />
Sarana International (Pvt) Limited property was acquired by <strong>the</strong> <strong>Bank</strong><br />
in 2009. They claim that <strong>the</strong> <strong>Bank</strong> as a party of <strong>the</strong> Ceylinco Group has<br />
contributed money in settlement of <strong>the</strong> loan and due <strong>to</strong> non-payment by<br />
<strong>the</strong> <strong>Bank</strong>, <strong>the</strong> loan went in<strong>to</strong> arrears. Claim Rs. 992,547.65 and interest<br />
from Oc<strong>to</strong>ber 2008.<br />
Fraudulent encashment of a cheque of Rs. 9.5 Mn. by third party from<br />
BOC account.<br />
Hat<strong>to</strong>n National <strong>Bank</strong> has filed <strong>to</strong> nullify <strong>Seylan</strong> <strong>Bank</strong> Mortgage Bond<br />
executed by Lanka Trac<strong>to</strong>rs.<br />
Obtain a partition decree against <strong>the</strong> mortgaged property <strong>to</strong> <strong>the</strong> <strong>Bank</strong>.<br />
Claiming a refund from <strong>the</strong> sales proceeds of <strong>the</strong> property.<br />
3. Labour Tribunal Cases<br />
1. Labour Department inquiry No. IR/1055/2009 CA Writ 891/2009 - Retired employees of <strong>Seylan</strong> <strong>Bank</strong> PLC<br />
vs <strong>Seylan</strong> <strong>Bank</strong> PLC. Labour Commissioner ordered <strong>to</strong> pay gratuity at <strong>the</strong> rate of one month salary of each<br />
year of <strong>the</strong> service for <strong>the</strong> employees who completed 10 years service. <strong>Bank</strong> has filed a writ/settlement<br />
application in Court of Appeal. Argument or settlement postponed <strong>to</strong> 26.01.2012. Again date refixed for<br />
support and argument on 15.03.2012.<br />
2. LT application before <strong>the</strong> Labour Tribunal by ex-employees. Case Nos. LT 1/32/2010, LT 1/33/2010,<br />
LT 1/34/2010, LT 1/35/2010, LT 1/36/2010, LT 1/37/2010, LT 1/38/2010, LT 01/39/2010, LT 01/40/2010,<br />
LT 01/41/2010, LT 01/42/2010, LT 01/43/2010, LT 01/44/2010, LT 02/109/2010, LT/08/505/2010, LT/13/78/2010,<br />
LT/13/79/2010, LT/13/80/2010, LT/13/81/2010, LT/13/82/2010.