The bench - extended to 7 from the original 3 when they issued the interim order - had marathon sessions over four days last week before reserving the order to this week. Sirisena has said he will accept the Supreme Court's ruling on the petitions filed against his gazette notification dissolving Parliament.
Sri Lanka's crisis began in October when Sirisena abruptly sacked then-Prime Minister Ranil Wickremesinghe and appointed former strongman Mahinda Rajapaksa - Sirisena's rival in the 2015 presidential elections - in his place.
According to Sri Lanka's constitution, President Sirisena, without a two thirds Parliamentary majority can not dissolve Parliament for four and a half years since Parliament, first sat on Sept 1, 2015 following the Parliamentary Election in August 2015.
Sri Lanka's legislature voted overwhelmingly Wednesday to demand the reinstatement of prime minister Ranil Wickremesinghe, as a bitter power struggle headed for a government shut down within weeks.
Sirisena had contradicted Wickremesinghe's monetary approaches and his endeavors to explore affirmed maltreatment amid Sri Lanka's long thoughtful war, which finished in 2009.
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Tensions have run high among politicians, who have openly sparred in the country's parliament. The no-confidence votes against Rajapaksa in Sri Lanka's Parliamentary chamber last month descended into chaos, with Rajapaksa supporters occupying the speaker's chair and throwing books and water mixed with chili powder to try to prevent a vote.
The President had said this during a meeting with members of the United People's Freedom Alliance (UPFA) today.
Sirisena has repeatedly rejected appeals to reappoint Wickremesinghe as prime minister, but may now be compelled to do so since Wickremesinghe has the support of 117 lawmakers in Parliament. The military under Rajapaksa has been charged with carrying out some of the alleged abuses.
The United National Front (UNF) coalition led by Wickeremesinghe has moved three no-trust motions against Rajapaksa.The motions came to be adopted after the speaker summoned Parliament, in a direct confrontation with Sirisena.
In a Twitter post, the sacked leader said he hoped Sirisena will "promptly respect the judgement of the courts". Instead, Rajapakse and his allies are boycotting parliament since they do not have a majority in the 225-member assembly.
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His son Namal, a lawmaker, tweeted: "We respect the decision of". The speaker, nonetheless, reported that the votes were passed by voice and that there was never again a leader or different pastors. Prior to the crisis, Wickramasinghe's UNP had the backing of 106 parliamentarians while Rajapaksa and Sirisena combine had 95 seats.
On Nov. 9, Sirisena dissolved the Parliament citing his own reasons for his actions.
But in the current political crisis, will this court ruling make any difference?
"Unless this Parliament approves a budget for 2019, the government will not be able to spend even one cent from Jan 1", Mr Karunanayake told Parliament.
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