3 Aug 2022
1. ) LIM CHEE SEONG 2. ) LIM CHEE SOON 3. ) LIM POH CHOO 4. ) LIM CHEE PEOW 5. ) INFOLITY SDN BHD 1. ) LIM YOK POO @ LIM YOK POH 2. ) LIM YOK SIN 3. ) LIM CHEE SENG 4. ) LIM YORK WAN 5. ) LIM LI WEI 6. ) GOLDEN 251 SDN BHD 7. ) LIM TEOW YON
- Citation
- WA-24NCC-343-08/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-343-08/2021 (Mahkamah Tinggi)
The court found the rights issue and capital increase were bona fide, properly motivated for business expansion, offered pro rata to all shareholders (plaintiffs declined to subscribe), and the Special Resolution to amend the Articles was validly passed in accordance with the Articles and Companies Act 2016; plaintiffs' allegations were unproven and substantially delayed (laches), therefore the originating summons alleging oppression failed and was dismissed.