MODULAR TROPICAL VENTURES (M) SDN BHD v. GEORGE VARUGHESE & ANOTHER CASE

[2018] 5 MLRH 55

MODULAR TROPICAL VENTURES (M) SDN BHD v. GEORGE VARUGHESE & ANOTHER CASE
High Court Malaya, Shah Alam
Wan Ahmad Farid Wan Salleh JC
[Civil Suit Nos: 22NCVC-575-11-2015 & BA-22NCVC-129-03-2016]
27 June 2018

JUDGMENT

Wan Ahmad Farid Wan Salleh JC:

[1] The plaintiff in Suit 575 is a company under liquidation. The plaintiff was wound up by a court order dated 18 October 2011 at the instance of one Simon James Andrew Scott. Pursuant to a court order dated 16 March 2012, one Encik Augustine TK James ("Encik Augustine") was appointed as the provisional liquidator for the plaintiff company. The nature of the order that outlined the duties of Encik Augustine (who is SP3 at the trial) by the winding- up court are inter alia as follows:

(a) To carry out all the duties involved as the liquidator of the plaintiff company diligently in accordance with the provisions in the then Companies Act 1965 ("CA") which are, inter alia, ss 228, 233 and 236; and

(b) To take all necessary and expedient measures in recording all assets owned by the plaintiff company and dispose of the same according to the market value.

[2] The subject matter that is in dispute in these two actions is in respect of two properties known as Lot E-37-03 ("Unit E-37") and Lot E-38-03 ("Unit E-38"), Type E in one commercial centre known as 3 Two Square, situated on part of the land held under HS(D) 240117, PT 8, Seksyen 36, Bandar Petaling Jaya, Selangor (collectively referred to as "the Subject Property").

[3] The defendant in Suit 575 (and the plaintiff in Suit 129) is a sole proprietor of a legal firm known as Messrs George Varughese.

The Sale And Purchase Of The Subject Property

[4] By two separate sales and purchase agreements ("SPAs") dated 30 November 2007 between 3 Two Square Sdn Bhd ("3 Two Square") as the vendor and developer and the plaintiff as the purchaser, the plaintiff had agreed to purchase both units E-37 and E-38 for RM845,770 and RM779,200 respectively.

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