17 Feb 2022
XXXX 1. ) XXXX 2. ) Maxvogue Sdn Bhd 3. ) Naspermai Sdn Bhd
- Citation
- W-02(NCC)(W)-358-03/2020 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- W-02(NCC)(W)-358-03/2020 (Mahkamah Rayuan)
The Court upheld the trial judge's factual finding that R.1 was not carrying on the business of moneylending and therefore the loans were not unenforceable under the Moneylenders Act; it found the correct enforceable loan aggregate as RM7,409,688.04 and varied the High Court judgment accordingly, awarding that sum with 5% p.a. interest from date of demand until judgment and thereafter until realization, and ordered delivery of transfers upon payment with liberty to auction if payment not made within 60 days.