26 Mar 2024
UDPS PROPERTIES SDN BHD 1. ) DPMM SENTRAL LAND SDN BHD 2. ) SETIA RZ DEVELOPMENT SDN BHD
- Citation
- WA-24NCvC-3212-07/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCvC-3212-07/2023 (Mahkamah Tinggi)
The sale at the tenth auction for RM 2,551,500.00 constituted the market value because market value is measured by the price actually obtained on the open market; there was no contractual term requiring valuations or court directions before each auction and the plaintiff produced no evidence to rebut the sale price, therefore the Originating Summon alleging undervalue was dismissed.