K.K.D.T.Dharmaratne and Mrs.D.P.M. Dharmaratne vs Palm Paradise Cabanas Limited and Gonaduwage Upali Perera Gunasekara – SC CHC APPEAL CASE NO. 11/2014-2021

In the case between K.K.D. T. Dharmaratne, Mrs. D.P.M. Dharmaratne, and associated parties (Appellants) and Palm Paradise Cabanas Limited, Gonaduwage Upali Perera Gunasekara (and substituted party Sunethra Gunasekara), and the Registrar of Companies (Respondents), the central issue concerned whether the Appellants’ shares were validly transferred to the Respondents, including the evidentiary value of the board meeting minutes (P18) and the status of allegedly lost share certificates. The court determined that the evidence and submissions, including references to an alleged out-of-court settlement and the actions of the parties post-resignation, did not support the conclusion that a valid transfer was absent. The principle reaffirmed was that appellate courts accord deference to trial-level