11 Nov 2021
1. SPHERE MANAGEMENT (MAURITIUS) LIMITED 2. SRI HARI INVESTMENT HOLDINGS LIMITED 3. SAHAJANDAND INVESTMENT HOLDING LIMITED 4. JMR CAPITAL LIMITED 1. CIMB BANK BERHAD (Company No.: 13491-P) 2. GEMILANG TEGAS SDN BHD (Company No.: 1246203-M)
- Citation
- WA-22NCC-107-03/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-107-03/2021 (Mahkamah Tinggi)
The pleadings against the receiving bank disclosed no reasonable cause of action: no legal duty of care was owed to non-customer originators; Quincecare duty and duties to inquire do not extend to the facts pleaded; the bank did not retain or become enriched by the funds and therefore claims in constructive trust, knowing receipt, monies had and received or unjust enrichment fail; accordingly the action against the 1st Defendant is struck out under Order 18 rule 19.