CTC says capsulated products sale will return to normalcy soon

Friday, 24 November 2023 00:24 - - {{hitsCtrl.values.hits}}

Ceylon Tobacco Company Plc (CTC) said yesterday that the sale of capsulated products would return to normalcy in due course.

Following receipt of a certified copy of the Court of Appeal order dated 17th November 2023 CTC said CTC is referred to as the “Petitioner”, and it is clear that the Court of Appeal has stated that “the ability to make unjust or illegal decisions against the Petitioner has now vanished.”

The order also states “the Respondents would be compelled not to take decisions which are prejudicial to the Petitioner until this matter is finally decided by this Court.”

CTC said it is in the light of the above observations of the Court that the Court has held that “there is no need at this juncture to grant the interim relief requested by the Petitioner.”

CTC announced the return to normalcy in a filing to the Colombo Stock Exchange in due consideration of the Court’s view.

To read the previous story based on earlier development visit https://www.ft.lk/front-page/CTC-to-file-appeal-to-SC-for-interim-relief-on-sale-of-capsulated-products/44-755452