28 Feb 2025
SANDEEP SINGH GREWAL 1. ) TAN ENG JOO 2. ) JIANG YIHONG 3. ) PAYSOLUTION TECHNOLOGIES SDN BHD
- Citation
- WA-24NCC-155-03/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-155-03/2023 (Mahkamah Tinggi)
The Court found that D1's purported exercise of a casting vote on written resolutions lacked any basis in the Company's constitution (Table A Article 53) because no general meeting or equality of votes occurred, and that the orchestrated sequence of resolutions effected through that artificial majority sidelined the 50% shareholder and constituted a visible departure from fair dealing amounting to oppression under s.346; because the relationship had irretrievably broken down the appropriate remedy was a buyout by D1 at fair value as determined by an independent accountancy firm, with ancillar…