People’s Bank recently filed action against “People’s Capital Investments & Credit (Pvt) Ltd” at the Commercial High Courts holden at Colombo and obtained an enjoining order on 21.05.2021 restraining the latter from using the trade name “People’s” in their company name as it constituted a clear violation of Intellectual Rights of the People’s Bank.
The People’s Bank is a Banking Corporation established under the People’s Bank Act No. 29 1961 and it’s a state owned Commercial Bank carrying business for more than 60 years with the trade name “People’s” having 741 branches, 765 ATM machines, 244 self Banking Units, 221 KIOS and 274 CDMs across the Island.
There are many subsidiaries functioning under the People’s Bank carrying the Trade Name “People’s” namely;People’s Leasing and Finance PLC
- People’s Leasing and Finance PLC
- People’s Insurance Ltd
- People’s Travels Ltd
- People’s Fleet Management Ltd
- People’s Leasing Property Development Ltd
- People’s Leasing Havelock Properties LTD
Legal action against People’s Capital Investment and Credit (Pvt) Limited was instigated by the People’s Bank to restraining and preventing them from using the trade name “People’s” as the said company which has no connection whatsoever to the People’s Bank was carrying on business under the above name at No. 440/3, 1st Floor, C Ponnampalam Road, Clock Tower Road, Jaffna.
This was supported by Mr. Kaushalya Nawarathne, Attorney-at-Law instructed by Mrs. Muditha Peiris, Attorney-at-Law.