Commercial Bank of Ceylon PLC has obtained an enjoining from the Commercial High Courts of Colombo preventing MTD Walkers (KAPI) from being taken over by casino operator Ravi Wijeratne. The Colombo Stock Exchange (CSE) listed construction firm announced in a stock exchange disclosure today (8) that they have received an enjoining order from the Commercial High Courts of Colombo to this effect. The order enjoined the company, or its holding company MTD Capital Bhd, from going through with the transaction or any similar transaction without approval by Commercial Bank until all outstanding dues to Commercial Bank are settled. MTD Walkers owes Commercial Bank, as well as Bank of Ceylon and several other banks, large debts. Last month MTD Walkers in a stock exchange filing said that Ravi Wijeratne was set to purchase a controlling stake of 90.78% of the company from its Malaysian parent MTD Capital Bhd. Wijeratne had  agreed to purchase 152,183,583 shares held by the the company's parent through a voluntary offer to be made to all the shareholders of the company. Earlier this year MTD Walkers in a corporate disclosure announced its intention to transfer its fully owned subsidiaries Walkers Shipyards Limited, Northern Power Company Ltd., and Colombo Fort Heritage Company Ltd., to its parent MTD Capital Berhad. However, this too was blocked as several State and private banks, to which MTD Walkers owed billions of rupees, obtained Enjoining Orders against this transfer. MTD Walkers is a listed construction company engaged in infrastructure-related businesses. It has suffered heavily due to non-payment or delayed payment by the Government for state infrastructure projects carried out by the company. Wijeratne is the owner of Rank Holdings, which operates the popular Star Dust and Casino Marina casinos in Colombo and is also engaged in hydro and wind power generation, infrastructure and real estate development.