Atan Mustaffa Yussof Ahmad J:

[1] Before the court is an application for discovery of documents and inspection under O 24 rr 3, 4 and 5 of the Rules of 2012, together with a prayer for an interim stay of proceedings pending disposal of the discovery application. The documents sought relate to payment records, receipts and transaction details concerning certain agreements between the parties, where payments were allegedly made through third parties. At the heart of the dispute is whether these documents should be disclosed, and whether such disclosure is relevant and necessary for the fair disposal of the substantive action between the parties, where the validity and enforceability of the underlying agreements are contested.

Brief Facts Of The Case

[2] On 22 October 2021, the 1st Defendant in the Counterclaim, Kenanga Investors Berhad ("KIB"), and the 1st Plaintiff in the Counterclaim, Zulrafq Capital Sdn Bhd ("ZCSB") entered into a Put and Call Option Agreement ("1st Option Agreement') relating to 190,476,190 shares in KNM Group Berhad worth RM40,000,000.00 ("Option Shares'). Under this agreement, ZCSB was granted a Call Option to buy back the Option Shares from KIB during spe