The Tigers' first worldwide win since January however, came after a horrendous bowling display on a flat track which allowed the opposition to score 214 losing six wickets in their stipulated 20 overs.
Chris Broad of the Emirates Elite Panel of ICC Match Referees announced his decision following a hearing, in presence of match officials and the Sri Lanka team management, on Sunday.
If the Men in Blue win today, it would take them to the top in the points table past the Lankans, who are now leading the table on net run rate, ahead of India and Bangladesh.
India would look forward to win this crucial match as so far all the teams, including Bangladesh, have managed to win one match each out of two matches they have played so far.
The experienced Karthik joined Pandey at 85-4.
India would make heavy weather of the chase with spinner Akila Dananjaya getting Sri Lanka back into the game by removing both India openers in the space of three balls leaving the tourists 22 for 2 after three overs and one ball.
Opener Kusal Mendis and the sizzling Kusal Perera struck merciless fifties to enable the home side surpass their best total against Bangladesh - 210 in Sylhet.
Sundar then cleaned up in-form Kushal Perera (3) in the next over as the batsman went for an expansive reverse sweep.
Mendis though got little support from the other batsmen as the hosts kept losing wickets at regular intervals.
But Shankar himself spoilt his good work, courtesy two bad deliveries which were clobbered over the boundary by Lankan stand-in skipper Thisara Perera (15).
KL Rahul, who had come into the match after sitting out for the last two games, got off to a steady start, but brought about his own dismissal by stepping his back foot on to the stumps to get hit-wicket.
Dasun Shanaka added 19 runs off 16 balls with a four and a six.