27 Dec 2021
Chew Tuan Hong 1. ) RAVINDRAN A/L G VELOO 2. ) Suriakala A/p Munasamy
- Citation
- JB-12BNCC-2-12/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- JB-12BNCC-2-12/2020 (Mahkamah Tinggi)
The court found the appellant to be an unlicensed moneylender and that evidence established the transaction was interest-bearing and not a genuine interest-free "friendly" loan; accordingly the loan agreement was unenforceable under the Moneylenders Act 1951, the actual sum disbursed (RM93,250) less payments made (RM84,000) produced a recoverable balance of RM9,250 only, with no interest, and the appellant's caveats on the two properties were to be removed and prohibited going forward.