JUDGMENT

Low Hop Bing J:

Application

[1] This is the plaintiff's application by way of originating summons in encl. (1) pursuant to s. 256 of the National Land Code 1965 seeking an order for sale of two pieces of land held respectively under Pajakan Negeri No. 9441, Lot No. 6836; and Pajakan Negeri 9440 Lot 6837, both in the mukim of Batu Berendam, Melaka (collectively "the land").

[2] A reference hereinafter to a section is a reference to that section in the National Land Code 1965 unless otherwise stated.

Factual Background

[3] This does not appear to be disputed.

[4] Vide letter dated 12 July 1999, the plaintiff offered to the defendant banking facilities in the sum of RM1 million, of which RM350,000 was by way of term loan at the agreed interest of 2.5% p.a. above the base lending rate, with a monthly instalment of RM5,198 repayable over 84 months, the final payment being on or before 31 December 2005, and with a penalty interest of 1% p.a., while the other component of RM650,000 was by way of overdraft and letters of credit, bankers acceptance with various rates of interest stated therein (collectively "overdraft facility").

[5] The said banking facilities were accepted by the defen