Anilana Hotels and Properties PLC has formally announced to the Colombo Stock Exchange (CSE) that its hotel properties situated in Nilaveli, Trincomalee, and Pasikuda have been acquired by Sampath Bank PLC. This acquisition was carried out in accordance with the Recovery of Loans by Banks (Special Provisions) Act No. 04 of 1990.
In a letter dated September 11, 2026, directed to the Chief Regulatory Officer and Chief Executive Officer of the Colombo Stock Exchange, Anilana Hotels confirmed the receipt of a communication from Sampath Bank PLC, dated August 31, 2026, which was received on September 1, 2026, affirming the takeover of the properties.
This acquisition occurs during a period of ongoing litigation initiated by Anilana Hotels. The company has previously filed two lawsuits in the Commercial High Court (Case Nos. CHC 98/25/MR and CHC 99/25/MR) contesting the resolution passed by Sampath Bank PLC regarding the acquisition of the properties. Both cases are currently under appeal at the Supreme Court, referenced as Case Nos. SC/HCLA/115/26 and SC/HCLA/116/26.
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Additionally, Anilana Hotels has put forth an application for a compromise under the Companies Act No. 07 of 2007 (Case No. CHC 60/2026/CO). In its court submission, the company disclosed that a potential investor has proposed Rs. 1.2 billion for the hotel properties to facilitate a settlement with Sampath Bank PLC. In response to this filing, the Commercial High Court has issued a notice to Sampath Bank.
Anilana Hotels has indicated that if a successful compromise is achieved with the bank in the Commercial High Court, comprehensive disclosures will be provided to the market.
Financial Chronicle Biz English | Sri Lanka Business News.
