Sri Lanka, April 26 -- This case centers on a dispute regarding the redemption of land acquired by a Bank under Section 71 of the Finance Act (No. 11 of 1963, as amended). The key question revolves around whether there exists a right to substitute deceased applicants in such proceedings.Redemption is essentially giveback ownership of land that has been forfeited in mortgages if the debts owed are paid.

Section 71 referred to above empowers the Bank (1st Respondent) to acquire land under specific conditions. However, subsection (2)(a) dictates that an application for acquisition must be made by the original owner, their spouse, descendant, parent, brother, or sister. Additionally, subsection (2)(c) mandates that the applicant's and their ...