21 Jul 2025
GOLDEN WHEEL CREDIT SDN BHD DATO' SIAH TEONG DIN
- Citation
- W-02(NCC)(W)-757-05/2023 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- W-02(NCC)(W)-757-05/2023 (Mahkamah Rayuan)
The Court held the moneylending agreements were void and unenforceable under the Moneylenders Act 1951 but not illegal under the Act or s.24 Contracts Act 1950; applying the Detik Ria guidelines the centrality of any illegality was low and proportionality favoured restitution because a licensed lender lent on the respondent's instructions, the interest rate was not extortionate, the loans were performed (disbursed) and denial of s.66 relief would be disproportionate; therefore s.66 CA 1950 entitles the appellant to restitution of RM3,383,500 plus 5% interest and costs.