🏛️ Court Stays DFCC Bank’s Parate Execution on Ranfer Group

• Overview: The Commercial High Court of Colombo issued an enjoining order halting DFCC Bank's resolution to auction properties belonging to Ranfer Ltd., Ranfer Teas Ltd., and Kemulla Developments Ltd. until 14 October 2026. • Legal Dispute: Counsel for Ranfer Ltd. argued that DFCC Bank’s parate execution resolution to recover outstanding facilities was legally flawed, threatening irreparable harm to the tea exporter and associated entities. • Key Grounds: • DFCC Bank wrongfully amalgamated debt across separate mortgage bonds securing distinct assets. • Failure to specify individual facility amounts, enforceable sums, and contractual caps per bond prevented the mortgagors from tendering exact payments to stop property sales. • Status: Proceedings were heard before Justice Viraj Ranatunge, with temporary relief granted to the Plaintiff based on provisional court filings.