16 Feb 2023
PELABURAN MARA BERHAD TAN CHIN HOONG
- Citation
- WA-22NCC-174-04/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-174-04/2022 (Mahkamah Tinggi)
The Court held that the Plaintiff validly exercised the Put Option and established entitlement to specific performance; the Defendant failed to produce any credible or contemporaneous evidence to raise a bona fide triable issue of fraudulent misrepresentation or to prove that the Plaintiff sold the specific Sale Shares in breach of Clause 6.1(c); Clause 6.1(c) is ambiguous and unenforceable; the Put Option properly covered 27,000,000 shares after the company share split; accordingly both applications were allowed and the counterclaim struck out.