IN THE SUPREME COURT OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA In the matter of a Leave to Appeal Application against the refusal to enforce an Arbitral Award by the High Court under and in terms of section 31(1) of the Arbitration Act No. 11 of 1995.

Orient Financial Services Corporation Limited, No: 46, 48, Dr, N.M. Perera Mawatha, Kota Road, Borella.

Petitioner Supreme Court Case No:- SC/Appeal/42/2015 Commercial High Court Case No:- HC/ARB/55/2012 Vs

1. Ranepuradewage Upathissa No. 272/4, Himbutana Patugama Mulleriyawa, Angoda.

2. Ranepuradewage Bandula No. 37/11, Chappell Lane, Nugegoda.

No. 23A, Chappell Lane, Nugegoda.

3. Kalinga Gamini Silva, No. 105, Mahinda Mawatha, Wellampitiya.

4. Nakalandage Marvin Perera, No. 138/10, Pamunuwila Road, Gonawila.

Respondents AND NOW Orient Financial Services Corporation Limited, No: 46, 48, Dr, N.M. Perera Mawatha, Kota Road, Borella.

Petitioner-Appellant Vs

1. Ranepuradewage Upathissa No. 272/4, Himbutana Patugama Mulleriyawa, Angoda.

2. Ranepuradewage Bandula No. 37/11, Chappell Lane, Nugegoda.

No. 23A, Chappell Lane, Nugegoda.

3. Kalinga Gamini Silva, No. 105, Mahinda Mawatha, Wellampitiya.

4. Nakalandage Marvin Perera, No. 138/10, Pamunuwila Road, Gonawila.

Respondents-Respondents AND Orient Financial Services Corporation Limited, No. 46, 46, Dr. N. M. Perera Mawatha, Kota Road, Borella.

Petitioner Supreme Court Case No:- SC/Appeal/46/2015 Commercial High Court Case No:- HC/ARB/55/2012 Vs.

1.Ranepuradewage Upathissa, No. 272/4, Himbutana Patumaga, Mulleriyawa, Angoda.

2. Ranepuradewage Bandula, No. 37/11, Chappell Lane, Nugegoda.

No. 23A, Chappell Lane, Nugegoda.

3. Kalinga Gamini Silva, No. 105, Mahinda Mawatha, Wellampitiya.

4. Nakalandage Marvin Perera, No. 138/10, Pamunuwila Road, Gonawala.

Respondents AND NOW Orient Financial Services Corporation Limited, No. 46, 48, Dr. N. M. Perera Mawatha, Kota Road, Borella.

Presently known as Orient Finance PLC, No. 75, Arnold Rathnayake Mawatha, Colombo 10 Petitioner-Appellant Vs

1. Ranepuradewage Upathissa, No. 272/4, Himbutana Patugama, Mulleriyawa, Angoda.

2. Ranepuradewage Bandula No. 37/11, Chappell Lane, Nugegoda.

No. 23A, Chappell Lane, Nugegoda.

3. Kalinga Gamini Silva, No. 105, Mahinda Mawatha, Wellampitiya.

4. Nakalandage Marvin Perera, No. 138/10, Pamunuwila Road, Gonawila.

Respondent-Respondent Before : Priyantha Jayawardena PC, J Kumudini Wickremasinghe, J Mahinda Samayawardhena, J Counsel : Nishkan Parathalingam with Upeka Sooriyapatabadige for the Petitioner-

Appellant in SC/Appeal/42/2015 and SC/Appeal/46/2015 .

W. Madawalagama for the Respondent-Respondent in SC/Appeal/42/2015 and SC/Appeal/46/2015 Argued on : 29^th March, 2023 Decided on : 25^th September, 2023 Priyantha Jayawardena PC, J The above appeals were taken up for hearing as the parties informed court that the questions of law where Leave to Appeal were granted by this court are identical. Hence, both parties agreed to consolidate and take up the two appeals and to have one judgment in respect of both appeals.

Facts of the case These two appeals were filed to set aside the two Orders of the learned High Court Judge dated 2^nd of December, 2012 which refused to enforce an arbitral award made against the respondents-

respondents (hereinafter referred to as the “respondents”).

The 1^st and 2^nd respondents had entered into a Master Finance Lease Agreement bearing Agreement No. ML 06175 dated 27^th of September, 2006 with the petitioner-appellant (hereinafter referred to as the “appellant-company”), who has been engaged in lease financing business to obtain lease finances to purchase equipment/vehicles from time to time. In terms of the said agreement, each vehicle obtained on a lease was added to it by a separate schedule made to the said agreement.

The 3^rd and 4^th respondents were the guarantors to the said Master Finance Lease Agreement and furnished an indemnity to secure the lease finance facilities given on the said agreement.

The said Master Finance Lease Agreement provided for the part