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Court issues enjoining order against Abans MD 

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The Colombo Commercial High Court issued an  enjoining order preventing Rusi Pestonjee, Managing Director of Abans PLC or his servants from in any way or manner to use the name McDonald’s or any name in any way or manner similar to the name McDonald’s.

Comercial High Court Judge Sumith Perera further issued an enjoining order preventing Rusi Pestonjee from selling McDonald’s food and menu items in respect of restaurants in Kotahena,  Nugegoda, Kiribathgoda, Battaramulla, Kollupitiya, Rajagiriya, Welisara, Mount Lavinia, Colombo City Centre, Macleod Road restaurant and Shangri-La restaurant.

These enjoining orders will be effective till April 4.

The Commercial High Court made this order consequent to a lawsuit filed by McDonald’s Corporation, a duly incorporated body in the United States of America  which sought court’s jurisdiction under the provisions of the Intellectual Property Act, No. 36 of 2003.

 The plaintiff is the owner of the names “McDonald’s”, “McDonald’s Hamburgers”, “McDonald’s Family Restaurants”. The plaintiff states  that it has developed an iconic reputation throughout the world in relation the name McDonald’s. The plaintiff further states that the plaintiff is the sole proprietor of McDonald’s Restaurants and  what is known as the McDonald’s System. 

The plaintiff states that it has terminated the right of the defendant to use the name McDonald’s or any name in any way or manner similar to the name McDonald’s and to use any name which would convey to the public that the said restaurant is in any way or manner connected to the McDonald’s.

The plaintiff and the defendant Rusi Pestonjee entered into a Developmental Agreement dated 21st August 1997 containing terms and conditions.

The plaintiff further states that the basis of the Development Agreement has ceased to exist due to the actions of the defendant. The plaintiff further states that the plaintiff does not desire the defendant to be a franchisee and to operate any restaurant under the name McDonald’s.

The plaintiff is further seeking a declaration that the defendant has no right to use the name McDonald’s and/or any name in any way or manner similar to the name McDonald’s. 

Dr. Romesh De Silva PC instructed by Sanath Wijewardane appeared for the plaintiff.

Source – Daily Mirror 

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Milco milk powder prices slashed

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The prices of Milco milk powder have been reduced effective from today (Sep 10).

The price of a 400g milk powder packet has been reduced by Rs. 75, to Rs. 1,050.

Meanwhile, the price of a 1kg packet has been reduced by Rs. 190 to Rs. 2,585.

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CBSL relaxes mandatory export conversion period

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The Central Bank of Sri Lanka (CBSL) has relaxed the mandatory export conversion period in the latest exports proceeds conversion rule.

As per the new rules, the mandatory  export conversion period  has been extended to roughly a three-month period from an earlier one-month period.

The CBSL states : Taking into consideration  the macro-economic developments, in particular the developments in domestic foreign exchange market conditions, Central Bank of Sri Lanka issued the “Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024” (Rules), which was published in the Gazette Extraordinary No. 2391/02 dated 01.07.2024, in terms of the Central Bank of Sri Lanka Act, No. 16 of 2023, substantially relaxing the period applicable for exporters of goods to convert their export proceeds into Sri Lanka Rupees.

The complete press release is as follows :

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3 million eggs imported from India 

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A shipment of 3 million eggs from India is set to arrive in Sri Lanka by the end of this week, according to Asiri Walisundara, Chairman of the Sri Lanka State Trading Corporation (STC).

He stated that procurement has been completed and applications for the import have been submitted to the Department of Animal Production and Health (DAPH) for approval.

The imported eggs are expected to be sold at approximately Rs. 40 each.

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