Zulkefli Makinuddin J:

[1] This is an application by the applicant chargor ("applicant") to set aside the order for sale of the applicant's land made by the first respondent as the land administrator and to seek a declaration that the charge is null and void. The relevant facts of the case are as follows:

[2] Tymeju Management Services Sdn Bhd ("the borrower company") and the second respondent entered into a share margin trading and financing agreement ("the agreement"). Under the agreement the second respondent is empowered to acquire and dispose of securities on behalf of the borrower company. All shares traded and comprised in the mortgage securities are duly registered in the name of the second respondent and are retained in its custody as security for the loan as required by the second respondent. Additionally, a third party-party charge on the applicant's land was executed between the applicant and the second respondent for the credit facilities granted by the second respondent to the borrower company. Upon application by the second respondent as chargee of the said land the first respondent as the Land Administrator granted an order for sale of the said land under s 26