JUDGMENT

Amarjeet Singh Serjit JC:

Introduction

[1] This is an appeal against the decision of the Sessions Court at George Town allowing an application for summary judgment under O 14 of the Rules of 2012. Judgment was entered for a sum of RM863,000.00 as agreed liquidated damages under a Call and Put Option Agreement dated 19 February 2019 ("the Option Agreement"). On 28 December 2021, I allowed the appeal and remitted the matter to the Court below for trial.

[2] For ease of reference the parties referred to are as they were in the Court below.

The Facts

[3] The facts stated in the affidavit of the parties are largely undisputed. The only dispute raised by the defendant was that he was not served with the put option notice as required by the Option Agreement.

[4] The salient facts are as follows. The plaintiff was the legal registered owner of 8,200,000.00 ordinary shares of D'Nonce Technology Berhad. On 19 February 2019 the plaintiff and defendant executed the Option Agreement. In consideration of granting the call option in respect of 4,100,000 shares within a stipulated period the defendant agreed to grant the plaintiff the put option whereby the plaintiff may at any time during the