This inscription is engraved on a rock situated about 200 feet (60.96 m) to the south of the vaṭadāgē at the ancient Buddhist monastery now called Nītupatpāṇa (also known Girihandu Seya) near the village of Tiriyāy (Thiriyai). This monastery stands at the summit of a hill, known by the Tamil name of Kandasāmimalai (the Hill of the Lord Skanda), about a mile to the west of the village, which is located near the sea-coast, roughly twenty-nine miles to the north of Trincomalee in the Eastern Province. The inscription was discovered in 1931, as reported in the Archaeological Survey of Ceylon Annual Report for 1931–32 (pt. IV – Education, Science and Art [J], p. 19). It can be dated on palaeographic grounds to the late seventh or first half of the eighth century A.D. and is written in Sanskrit. As B. Ch. Chhabra (1934–41: 312) has shown, the inscription is in verse, the composer having employed the Nardaṭaka metre in the first ten stanzas and the Upajāti metre in the eleventh and final stanza. The engraver has allotted one line to each stanza.
The record begins with an account of some sea-faring merchants, before launching into a long eulogy of a shrine named Girikaṇḍi-caitya. The eulogy is followed by the pious wish of the author that, by the merit he has gained by praising the shrine, the world may be freed from the miseries of existence; this wish identifies the author as a Mahāyānist, something which can perhaps also be inferred from the fact that the document is written in Sanskrit. The next portion of the inscription states that Girikaṇḍi-caitya was founded by two groups of merchants. The record ends with the Buddhist formula about the transitory nature of mundane things.
Paranavitana (1934–41: 151–160) read the names of the groups of merchants who are stated in the inscription to have built the Girikaṇḍi-caitya as Trapussaka and Vallika, which he took to be corruptions of Trapuṣa (Tapussa in Pāli) and Bhallika (Bhalluka in the Nidānakathā), two merchants who offered food to the Buddha immediately after his enlightenment and were the recipients of some his hair. This led Paranavitana to conclude that the Girikaṇḍi-caitya at Tiriyāy was founded by these merchants to enshrine the hair-relics, although B. Ch. Chhabra (1934–41: 313–314) has challenged this interpretation (see Misc. Notes for discussion).