Chanaka Thilan Rodrigo et al. vs Cyril Rodrigo Restaurants Ltd. et al. – SC APPEAL 147/2017-2018

In the case between Chanaka Thilan Rodrigo and Cyril Rodrigo Restaurants Ltd., the court addressed the issue of the legal validity of an interim order restraining the transfer of shares in Cyril Rodrigo Restaurants Ltd., focusing on the application of Section 233 of the Companies Act No. 7 of 2007 and the interpretation of Articles 13 and 15 of the Articles of Association regarding share transfers and Board approval. It was held that the interim order, intended to preserve the status quo and prevent unauthorized share transfers, was lawfully granted. The principle reaffirmed was that interim relief is proper where actions risk contravening company articles or statutory requirements. This decision relied on the Companies Act No. 7 of 2007 and relevant company law precedents, emphasizing tha