Muthukuda Arachchilage Don Suranga Dilruk vs Gamma International (Private) Limited – CA RII/0038/2023-2025

In the case between Muthukuda Arachchilage Don Suranga Dilruk and Gamma International (Private) Limited, including its previous struck-off and newly formed entities and associated directors (Defendants-Respondents), the primary issue addressed was the legal consequence of a company being struck off and the status of beneficial ownership concerning property held in trust. The findings established that a serious question existed regarding whether trust property vests in the State under Section 487(5) of the Companies Act No. 7 of 2007, or remains with the beneficial claimant. The decision determined that the petitioner had raised triable issues of law and fact, particularly on ownership claims arising from contractual arrangements, payment made to directors, and prescriptive rights. It was d