DESIREE ROSELYN D'COSTA 1. ) KALAI SELVAN A/L SUPRAMANIAM 2. ) METRO ASIAJAYA SDN. BHD.

DESIREE ROSELYN D'COSTA 1. ) KALAI SELVAN A/L SUPRAMANIAM 2. ) METRO ASIAJAYA SDN. BHD.

On the balance of probabilities the Plaintiff proved she was allotted 750,000 shares for RM582,442.60 and that those shares were later transferred to the First Defendant without her consent or consideration; the First Defendant failed to produce or authenticate transfer documents and an adverse inference was drawn; the Plaintiff also proved she advanced RM335,000.00 under executed loan agreements which were unpaid; accordingly those sums are recoverable with interest and costs.

Citation
BA-22NCvC-197-05/2022 (Mahkamah Tinggi)
Parties
Plaintiff: Desiree Roselyn D’Costa; First Defendant: Kalai Selvan a/l Supramaniam; Second Defendant: Metro Asiajaya Sdn Bhd
Court
High Court
Jurisdiction
Malaysia
Judgment Date
13 December 2024
Case Number
BA-22NCvC-197-05/2022 (Mahkamah Tinggi)
Procedural Posture
Civil Suit / Full Trial and Judgment
Outcome
Plaintiff’s claims allowed in part and dismissed in part
Legal Topics
Share Transfer, Forgery of Signature, Loan Repayment (friendly Loan), Locus Standi, Interest and Costs
Source Language
Malay/English
Company Law Contract Law Evidence Unjust Enrichment Share Transfer Forgery of Signature Loan Repayment (friendly Loan) Locus Standi +1 more

Case Brief

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Parties

Desiree Roselyn D’Costa

Plaintiff

Kalai Selvan a/l Supramaniam

First Defendant

Metro Asiajaya Sdn Bhd

Second Defendant

Procedural Posture

Civil Suit / Full Trial and Judgment

Legal Issues

  1. 1 Whether the Plaintiff was the beneficial investor and registered shareholder of the Second Defendant
  2. 2 Whether the share transfers were validly executed or forged/unauthorised
  3. 3 Whether the First Defendant received and must repay monies advanced as a friendly loan

Ratio Decidendi

On the balance of probabilities the Plaintiff proved she was allotted 750,000 shares for RM582,442.60 and that those shares were later transferred to the First Defendant without her consent or consideration; the First Defendant failed to produce or authenticate transfer documents and an adverse inference was drawn; the Plaintiff also proved she advanced RM335,000.00 under executed loan agreements which were unpaid; accordingly those sums are recoverable with interest and costs.

Court Disposition

Plaintiff’s claims allowed in part and dismissed in part

Orders

  • Defendants to pay Plaintiff RM582,442.60 for the shares transfer with interest at 5% per annum from date of filing until full realisation
  • First Defendant to pay Plaintiff RM335,000.00 for the friendly loan with interest at 5% per annum from date of filing until full realisation