30 Aug 2024
Lakhbeer Singh A/L Ajaib Singh Thamil Chelvam A/L Subramaniam
- Citation
- WA-B52NCvC-239-07/2020 (Mahkamah Sesyen)
- Court
- Sessions Court
- Case number
- WA-B52NCvC-239-07/2020 (Mahkamah Sesyen)
On the balance of probabilities the SPA was a sham and served as collateral for an illegal moneylending arrangement: the plaintiff (a licensed moneylender) charged and received interest inconsistent with statutory form/limits, failed to stamp the SPA, failed to take steps to obtain required consent and did not follow prescribed moneylending formalities; accordingly the SPA was void for illegality under Contracts Act s24 and unenforceable, and specific performance was denied.