19 Jul 2022
SURESHRAJ A/L KRISHNAN 1. ) PV POWER ENGINEERING SDN. BHD. 2. ) YUSOF BIN ALI
- Citation
- B-02(NCC)(W)-138-01/2021 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- B-02(NCC)(W)-138-01/2021 (Mahkamah Rayuan)
The Court found on balance that the respondent failed to prove the appellant was carrying on the business of moneylending as defined in s.2 MLA; the s.10OA presumption was rebutted; the PSA (with the 8% per day clause abandoned by appellant) should be treated as a friendly loan; appellant entitled to recover the unpaid principal balance of RM110,000 with interest at 5% p.a. from 25.7.2018 and costs RM35,000.